Analyst Note| Kristoffer Inton |
On Aug. 4, U.S. Concrete reported impressive second quarter results--a notable turnaround from the first quarter’s middling performance. On one hand, revenue was down 12% from the prior year quarter to $323 million amid the ongoing coronavirus pandemic. Despite these external headwinds, the company’s efforts in improved logistics combined with lower diesel prices drove adjusted EBITDA to grow 13% to $48 million. Adjusted EBITDA expanded an impressive 3,400 basis points to 14.8%.