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U.S. Concrete: 2Q Earnings Snapshot

August 7, 2018

EULESS, Texas (AP) _ U.S. Concrete Inc. (USCR) on Tuesday reported second-quarter net income of $16.3 million, after reporting a loss in the same period a year earlier.

The Euless, Texas-based company said it had net income of 99 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.08 per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.39 per share.

The concrete and aggregates producer posted revenue of $404.2 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $391.7 million.

U.S. Concrete expects full-year revenue in the range of $1.52 billion to $1.62 billion.

U.S. Concrete shares have declined 46 percent since the beginning of the year. The stock has fallen 44 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on USCR at https://www.zacks.com/ap/USCR

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