Suncrete Announces Q1 2026 Earnings Results
Rhea-AI Summary
Suncrete (NASDAQ: RMIX) reported Q1 2026 revenue of $61.8 million, up 64% year over year. Net result shifted to a $1.7 million loss from $1.1 million income. Adjusted EBITDA rose 25% to $10.2 million and concrete volumes grew 58%.
For 2026, the company guides revenue of $420–$480 million and net income between $(4) million and $20 million. Suncrete highlights post‑quarter acquisitions of Hope Concrete and Nelson Bros and its recent Nasdaq listing.
Positive
- Q1 2026 revenue $61.8M, up 64% year over year
- Q1 2026 Adjusted EBITDA $10.2M, up 25% year over year
- Q1 2026 Supplemental Adjusted EBITDA $10.9M, up 24% year over year
- Ready-mix concrete volumes up 58% year over year in Q1 2026
- 2026 revenue outlook $420M–$480M indicates significant expected scale
- Post-quarter acquisitions expand footprint into Texas and Louisiana
Negative
- Q1 2026 net loss $1.7M versus $1.1M income prior year
- 2026 net income outlook ranges from $4M loss to $20M profit
- Guidance depends partly on closing one acquisition under non-binding LOI
News Market Reaction – RMIX
In the May 15 session, RMIX gained 0.77%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 07 | Acquisition completion | Positive | +0.1% | Closed Nelson Bros. Ready Mix deal, adding 9 plants and 124 mixer trucks. |
| Apr 29 | Acquisition completion | Positive | -0.5% | Completed Hope Concrete acquisition to enter Texas and Louisiana markets. |
| Apr 21 | Earnings scheduling | Neutral | +2.0% | Set Q1 2026 earnings release date and conference call details. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent acquisition news saw muted single-day reactions, with one small gain and one small loss.
Over the last month, Suncrete has focused on expansion and capital markets activity. It closed the Hope Concrete acquisition on Apr 29, 2026 and the Nelson Bros. deal on May 7, 2026, adding multiple plants and mixer trucks across Texas and Louisiana. An earnings release schedule was announced on Apr 21, 2026. Today’s Q1 2026 earnings and outlook build directly on this roll-up strategy, giving investors the first detailed view of post-acquisition operating performance and forward guidance.
Key Terms
adjusted ebitda financial
supplemental adjusted ebitda financial
non-gaap financial measures financial
gaap financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Revenue Up
Company Introduces 2026 Outlook
Randall Edgar, Suncrete's Chief Executive Officer, said, "We are pleased to report strong first quarter results, reflecting substantial year-over-year revenue growth. Our team executed at a high level, consistently delivering materials on time and to specification, reinforcing our core mission of reliably serving our customers. We believe our commitment to putting people, culture, and safety first creates a meaningful competitive advantage, enabling us to deliver superior service and build long-term customer relationships. These results reinforce our confidence in a disciplined approach to increasing market share, accelerating organic growth, and expanding into new markets through accretive acquisitions. With a strong start to the year, supported by industry tailwinds in our geographies for continued infrastructure, commercial and residential construction, we are introducing our growth outlook for 2026."
Edgar added, "Subsequent to quarter-end, we completed multiple acquisitions, expanding our footprint into
Ned N. Fleming, III, the Company's Executive Chairman, stated, "We are proud of our team's exceptional execution this quarter as we continue to advance Suncrete's growth strategy. We believe Suncrete's high-performing, scalable platform is well positioned to drive continued share gains, supported by both organic growth and disciplined M&A. Our approach centers on partnering with high-quality local operators and empowering them with the scale, resources, and support of a broader platform, with the goal of driving sustainable profitability. This repeatable and scalable strategy is focused on increasing local market share, entering new markets through accretive acquisitions, and maintaining an industry-leading margin profile. Supported by our team's deep operational experience and a proven, repeatable strategy refined over decades, we believe we are well positioned to continue scaling the business and capturing opportunities within the highly fragmented ready-mix concrete industry across the high-growth Sunbelt region of
Revenues were
Net loss was
Adjusted EBITDA(1) in the first quarter was
Supplemental Adjusted EBITDA(1), which excludes affiliated consultant compensation, in the first quarter was
Total yards of ready-mix concrete produced and delivered in the first quarter increased
(1) Adjusted EBITDA and Supplemental Adjusted EBITDA are financial measures not presented in accordance with |
2026 Outlook
The Company is providing its outlook for 2026 that reflects management's current expectations for organic growth and project execution across its core markets and includes the expected contribution of Hope Concrete and Nelson Bros. following the close of those acquisitions in the Company's second quarter. This guidance is based on current economic conditions and assumes no significant changes in the overall economy or other condition in the Sunbelt region of
- Revenue in the range of
$420 million $480 million - Net income (loss) in the range of
$(4) million $20 million - Adjusted EBITDA in the range of
$68 million $93 million - Supplemental Adjusted EBITDA in the range of
$71 million $96 million
(2) Adjusted EBITDA and Supplemental Adjusted EBITDA are financial measures not presented in accordance with GAAP. Please see "Non-GAAP Financial Measures" at the end of this press release for additional information. |
Conference Call
The Company will conduct a conference call today at 10:00 a.m. Eastern Time (9:00 a.m. Central Time) to discuss financial and operating results for the first quarter ended March 31, 2026. To access the call live by phone, dial (412) 902-0003 and ask for the Suncrete call at least 10 minutes prior to the start time. A webcast of the call will also be available live and for later replay on the Company's Investor Relations website at www.suncrete.com.
About Suncrete
Suncrete is a pure-play ready-mix concrete company strategically positioned across
Cautionary Statement Regarding Forward-Looking Statements
Certain statements herein that are not historical facts constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the words "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "should," "will," "would," and similar expressions or the negative of such terms or other comparable terminology. Examples of forward-looking statements include, but are not limited to, statements related to the Company's financial projections, future events, business strategy, future performance and future operations, statements regarding the Company's acquisition strategy and statements relating to the benefits of recently completed acquisitions. Forward-looking statements are based on assumptions as of the time they are made and are subject to risks, uncertainties and other factors that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from those expressed in the forward-looking statements include, but are not limited to, the Company's ability to successfully manage and integrate acquisitions; failure to realize the expected economic benefits of acquisitions, including future levels of revenues being lower than expected and costs being higher than expected; failure or inability to implement growth strategies in a timely manner; declines in public infrastructure construction and reductions in government funding; risks related to the Company's operating strategy; competition for projects in the Company's local markets; risks associated with the Company's capital-intensive business; government requirements and initiatives; unfavorable economic conditions and restrictive financing markets; risks related to adverse weather conditions; the Company's substantial indebtedness and the restrictions imposed on the Company by the terms thereof; risks related to the Company's information technology systems and infrastructure; the Company's ability to maintain effective internal control over financial reporting; and the other risks described in the Company's filings with the Securities and Exchange Commission, including the Company's most recent Quarterly Report on Form 10-Q. Forward-looking statements speak only as of the date they are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events, or circumstances or other changes affecting such statements except to the extent required by applicable law.
The financial statements presented below reflect the historical financial results of Concrete Partners Holding, LLC for periods prior to the consummation of the Business Combination completed on April 8, 2026.
CONCRETE PARTNERS HOLDING, LLC | |||
Condensed Consolidated Statement of Operations | |||
(Unaudited) | |||
(in thousands, except unit amounts) | |||
Three months ended March 31, | |||
March 31, 2026 | March 31, 2025 | ||
Revenues | $ 61,829 | $ 37,739 | |
Cost of Goods Sold | 42,056 | 24,365 | |
Gross Profit | 19,773 | 13,374 | |
Operating Expenses: | |||
Selling, general, and administrative expenses(1) | 16,624 | 9,634 | |
Acquisition-related costs | 956 | — | |
(Gain) loss on disposal of assets, net | — | 80 | |
Total operating expenses | 17,580 | 9,714 | |
Operating income (loss) | 2,193 | 3,660 | |
Other income (expense): | |||
Other income (expense) | 74 | 15 | |
Interest expense, net | (4,015) | (2,608) | |
Total other income (expense) | (3,941) | (2,593) | |
Net income (loss) | (1,748) | 1,067 | |
CONCRETE PARTNERS HOLDING, LLC | |||
Condensed Consolidated Balance Sheets | |||
(Unaudited) | |||
(in thousands, except unit amounts) | |||
March 31, 2026 | December 31, 2025 | ||
Assets | |||
Current assets: | |||
Cash and cash equivalents | $ 6,276 | $ 6,333 | |
Accounts receivable, net | 35,127 | 33,699 | |
Inventory | 9,187 | 8,723 | |
Other current assets | 8,322 | 5,047 | |
Total current assets | 58,912 | 53,802 | |
Property, plant and equipment: | |||
Property, plant and equipment, at cost | 169,953 | 168,767 | |
Less: accumulated depreciation | (20,447) | (15,930) | |
Property, plant and equipment, net | 149,506 | 152,837 | |
Goodwill | 79,505 | 79,505 | |
Customer relationships, net | 69,247 | 71,373 | |
Trade name | 24,800 | 24,800 | |
Other noncurrent assets, net | 7,363 | 2,385 | |
Total assets | $ 389,333 | $ 384,702 | |
Liabilities, Redeemable Mezzanine Equity and Common Unitholder Equity (Deficit) | |||
Current liabilities: | |||
Accounts payable | $ 15,491 | $ 12,558 | |
Accrued liabilities | 27,240 | 27,080 | |
Current portion of lease liabilities | 542 | 475 | |
Long-term debt, current portion | 15,074 | 13,654 | |
Total current liabilities | 58,347 | 53,767 | |
Long-term lease liability | 6,559 | 1,727 | |
Long-term debt, net | 184,053 | 186,625 | |
Total liabilities | 248,959 | 242,119 | |
Commitments and contingencies (Note 15) | |||
Redeemable mezzanine equity: | |||
Redeemable senior preferred units, 26,000,000 units issued and outstanding (at | 26,569 | 26,590 | |
Redeemable preferred units, 115,700,000 units issued and outstanding (at redemption | 133,843 | 130,623 | |
Common unitholder equity (deficit), 95,700,000 units issued and outstanding | (20,038) | (14,630) | |
Total liabilities, redeemable mezzanine equity and common unitholder | $ 389,333 | $ 384,702 | |
CONCRETE PARTNERS HOLDING, LLC | |||
Condensed Consolidated Statement of Cash Flows | |||
(unaudited) | |||
(in thousands) | |||
Three months ended March 31, | |||
2026 | 2025 | ||
Cash Flows from Operating Activities: | |||
Net income (loss) | $ (1,748) | $ 1,067 | |
Adjustments to reconcile net income to net cash | |||
Depreciation and amortization | 6,650 | 4,119 | |
(Gain) loss on disposal of assets, net | — | 80 | |
Non-cash lease expense | (78) | 30 | |
Non-cash share-based compensation | 137 | 129 | |
Non-cash debt issuance cost amortization | 147 | 122 | |
Changes in operating assets and liabilities, net of | |||
Accounts receivable, net | (1,428) | (2,129) | |
Inventory | (464) | (203) | |
Other current assets | 869 | 399 | |
Accounts payable | 2,933 | 1,168 | |
Accrued liabilities | 159 | (340) | |
Net cash provided by operating activities | 7,177 | 4,442 | |
Cash Flows from Investing Activities: | |||
Additions to property, plant and equipment | (1,193) | (338) | |
Proceeds from sales of property, plant and equipment | — | 48 | |
Net cash used in investing activities | (1,193) | (290) | |
Cash Flows from Financing Activities: | |||
Borrowings of debt | 4,500 | — | |
Repayment of debt | (5,799) | (5,825) | |
Payment of deferred financing costs | (4,144) | — | |
Distributions | (598) | (590) | |
Net cash provided by (used in) financing activities | (6,041) | (6,415) | |
Net change in cash and cash equivalents | (57) | (2,263) | |
Beginning cash and cash equivalents | 6,333 | 8,410 | |
Ending cash and cash equivalents | $ 6,276 | $ 6,147 | |
Non-GAAP Financial Measures
Adjusted EBITDA represents net income (loss) before interest expense, net, depreciation and amortization, and further adjusted to exclude certain non-cash or non-operating items that management does not consider indicative of the Company's core operating performance. Such adjustments include share-based compensation expense, acquisition-related costs, and public company readiness costs. Supplemental Adjusted EBITDA further adjusts Adjusted EBITDA to exclude recurring affiliated consultant compensation. Management believes these measures provide investors with a clearer view of underlying operating performance. Adjusted EBITDA margin and Supplemental Adjusted EBITDA margin represent these measures as a percentage of revenue.
Management uses these measures as key performance indicators to evaluate the Company's operating performance and assess trends, and believes they are also frequently used by securities analysts, investors, and other parties to evaluate companies in our industry. Management believes these non-GAAP measures enhance investors' understanding of the Company's operating performance and facilitate meaningful period-to-period comparisons. These measures have limitations as analytical tools and should not be considered as an alternative to net income or any other performance measure derived in accordance with GAAP as an indicator of our operating performance. Our calculation of Adjusted EBITDA, Supplemental Adjusted EBITDA, Adjusted EBITDA margin and Supplemental Adjusted EBITDA margin may not be comparable to similarly named measures reported by other companies. Potential differences may include differences in capital structures, tax positions and the age and book depreciation of intangible and tangible assets.
The following tables present a reconciliation of net income (loss) to Adjusted EBITDA and Supplemental Adjusted EBITDA and the calculation of Adjusted EBITDA margin and Supplement Adjusted EBITDA margin (in thousands):
Three months ended | |||
March 31, | March 31, | ||
Net income (loss) | $ (1,748) | $ 1,067 | |
Plus: | |||
Interest expense, net | 4,015 | 2,608 | |
Depreciation and amortization expense | 6,650 | 4,119 | |
Share-based compensation expense | 137 | 129 | |
Acquisition-related costs(1) | 956 | — | |
Public company readiness(2) | 161 | 196 | |
Adjusted EBITDA | $ 10,171 | $ 8,119 | |
Affiliated consultant compensation(3) | 700 | 656 | |
Supplemental Adjusted EBITDA | $ 10,871 | $ 8,775 | |
Revenues | $ 61,829 | $ 37,739 | |
Net income margin | (2.8) % | 2.8 % | |
Adjusted EBITDA margin | 16.5 % | 21.5 % | |
Supplemental Adjusted EBITDA margin | 17.6 % | 23.3 % | |
(1) | Represents legal and advisory fees incurred in connection with acquisitions. |
(2) | Represents professional service costs incurred in connection with acquisition-related technical accounting and advisory support, as well as incremental costs to support the Company's preparation for becoming a public company (e.g., resources to facilitate public company readiness). |
(3) | Reflects recurring affiliated consultant compensation paid to support the Company's management team on various growth initiatives. |
The following table presents a reconciliation of net income, the most directly comparable measure calculated in accordance with GAAP, to Adjusted EBITDA and Supplemental Adjusted EBITDA, using the high and low ends of the Company's projected ranges (unaudited, in thousands):
For the fiscal year ending December 31, 2026 | |||
Low | High | ||
Net income (loss) | $ (4,356) | $ 20,244 | |
Plus: | |||
Interest expense, net | 18,413 | 18,413 | |
Depreciation and amortization expense | 45,287 | 45,287 | |
Share-based compensation expense | 555 | 555 | |
Acquisition-related costs(1) | 8,140 | 8,140 | |
Public company readiness(2) | 161 | 161 | |
Adjusted EBITDA | $ 68,200 | $ 92,800 | |
Affiliated consultant compensation(3) | 3,200 | 3,200 | |
Supplemental Adjusted EBITDA | $ 71,400 | $ 96,000 | |
(1) | Represents legal and advisory fees incurred in connection with acquisitions. |
(2) | Represents professional service costs incurred in connection with acquisition-related technical accounting and advisory support, as well as incremental costs to support the Company's preparation for becoming a public company (e.g., resources to facilitate public company readiness). |
(3) | Reflects recurring affiliated consultant compensation paid to support the Company's management team on various growth initiatives. |
Contact:
Rick Black
Dennard Lascar Investor Relations
Suncrete@DennardLascar.com
(713) 529-6600
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SOURCE Suncrete, Inc.