Welcome to our dedicated page for US Concrete news (Ticker: USCR), a resource for investors and traders seeking the latest updates and insights on US Concrete stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect US Concrete's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of US Concrete's position in the market.
U.S. Concrete reported third quarter 2020 results, revealing consolidated revenue of $374.2 million, a decrease of 8.5% year-over-year.
Aggregate products revenue hit a quarterly high of $63.6 million, driven by a 17.6% increase in sales volumes and a 12.7% rise in average selling price. Notably, Adjusted EBITDA from aggregate products surged 64.4% to $26.8 million.
Despite these strengths, ready-mixed concrete revenue fell 11.5%, adversely affected by pandemic-related disruptions.
U.S. Concrete (NASDAQ: USCR) will announce its third quarter 2020 results on October 29, 2020, at 6:00 a.m. ET. An investor conference call is scheduled for the same day at 10:00 a.m. ET. The company, a top supplier of aggregates and concrete, continues to grow in key markets including Dallas/Fort Worth and New York City. A live webcast of the call will be available on the company's website, with a replay accessible afterward. Investors should consider forward-looking statements, which may be influenced by various risks, including market demand and economic conditions.
U.S. Concrete has successfully closed its offering of $400 million in senior notes with a 5.125% interest rate, due on March 1, 2029. The funds will be utilized to redeem existing 6.375% senior unsecured notes due in 2024, along with covering related fees. The notes are senior unsecured obligations and have been offered exclusively to qualified institutional buyers. This move is expected to improve the company's financial structure by reducing interest expenses and extending debt maturity.
U.S. Concrete has priced a private offering of $400 million in 5.125% senior notes due 2029, increasing by $100 million from previous announcements. The offering aims to close on September 23, 2020, and the proceeds will be used to redeem $400 million of 6.375% senior unsecured notes due 2024. The company plans to guarantee the new notes through its restricted subsidiaries. This offering is targeted at qualified institutional buyers and will be conducted under Regulation S and Rule 144A.
U.S. Concrete (NASDAQ: USCR) announced a proposal to privately offer $300 million in senior notes due 2029. The notes will be guaranteed by the Company's restricted subsidiaries and will help redeem $300 million of its existing 6.375% senior unsecured notes due 2024. The offering is subject to market conditions and will only be available to qualified institutional buyers in compliance with securities regulations. U.S. Concrete continues to hold strong positions in key metropolitan markets across the U.S. and aims to enhance its capital structure through this offering.
U.S. Concrete (USCR) reported strong second-quarter 2020 results, with consolidated revenue of $322.7 million. Aggregate products achieved a record revenue of $54.5 million and an Adjusted EBITDA of $21.6 million. Operating income more than tripled to $21.6 million and net income rose to $6.5 million. The company's Total Adjusted EBITDA increased 13.3% to $47.6 million, with a net cash flow from operations of $40.1 million. Despite challenges from COVID-19, U.S. Concrete showcased resilience through efficient operations and cost containment.
U.S. Concrete (NASDAQ: USCR) will announce its second quarter 2020 results on August 4, 2020, at 6:00 a.m. ET. An investor conference call will follow at 8:30 a.m. ET. Interested parties can join the call by dialing (877) 312-8806 and using Conference ID: 4483164. A live webcast will also be available on the company’s website. U.S. Concrete is a major supplier of aggregates and concrete, serving high-growth markets including New York and Washington, D.C. More details can be accessed via their Investor Relations page.