Welcome to our dedicated page for Arcosa news (Ticker: $ACA), a resource for investors and traders seeking the latest updates and insights on Arcosa stock.
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Rhea-AI Summary
Arcosa, Inc. (NYSE: ACA) announced its Q3 2023 results, reporting a 2% decrease in revenues to $591.7 million. However, excluding the impact from the divested storage tanks business, revenues increased by 10%. Adjusted EBITDA grew by 24% to $89.4 million, excluding the divested business. The Construction and Transportation Products segments drove the company's growth, while the Engineered Structures segment declined. The company completed three acquisitions for $41 million, expanding its footprint at attractive valuations.
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Arcosa, Inc. to release Q3 2023 results on November 1, 2023
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Arcosa declares regular quarterly cash dividend of $0.05 per share on its common stock.
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Arcosa, Inc. announced that President Biden toured their new Arcosa Wind Towers manufacturing site in Belen, New Mexico. The company has received $1.1 billion of orders for new wind towers since the passage of the Inflation Reduction Act. They are investing $55-60 million in a new wind tower manufacturing facility in Belen, supported by incentives from the state and city. Production is expected to begin in mid-2024.
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Arcosa, Inc. (NYSE: ACA) announced solid growth in construction and transportation businesses, offsetting anticipated second-quarter mix headwinds in utility structures. Operating cash flow increased by 47%, and the company raised the low end of its full-year 2023 revenue and adjusted EBITDA guidance. The divestiture of its storage tanks business was completed on October 3, 2022, and financial results for this business were historically included in the Engineered Structures segment as part of continuing operations until the date of sale. Despite a 3% decrease in revenues, excluding the impact from the divested business, there was an 8% increase. Adjusted EBITDA surpassed last year's record results, normalizing for the divestiture of the storage tanks business. President and CEO Antonio Carrillo expressed satisfaction with the second quarter's performance, highlighting successful advancements in pricing, cost management, and solid unit profitability in natural and recycled aggregates within the Construction Products segment. However, operating inefficiencies in the specialty materials business impacted overall adjusted segment EBITDA margins. The wind towers business performed well, benefiting from tax credits, while anticipated product mix headwinds in the utility structures business resulted in lower overall segment profitability. The company remains optimistic about a stronger second half.
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Arcosa, Inc.
NYSE:ACA
ACA Rankings
ACA Stock Data
4.21B
47.81M
1.21%
92.7%
1%
Water and Sewer Line and Related Structures Construction
Construction
United States of America
DALLAS
About ACA
arcosa, inc. is a provider of infrastructure-related products and solutions with leading brands serving construction, engineered structures, and transportation markets. our individual businesses have built reputations for quality, service, and operational excellence over decades. arcosa serves a broad spectrum of infrastructure-related markets and is strategically focused on driving organic and disciplined acquisition growth to capitalize on the fragmented nature of many of the industries in which we operate. with arcosa’s current platform of businesses and additional growth opportunities, we are well- aligned with key market trends, such as the replacement and growth of aging transportation infrastructure, the continued shift to renewable power generation, and the expansion of new transmission, distribution, and telecommunications infrastructure. our common stock is traded on the new york stock exchange under the symbol aca.