AP NEWS
Related topics

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

AP RADIO
Update hourly