Arcosa Cites Progress Achieved in 2022

Arcosa Inc. announced results for the fourth quarter and full year ended Dec. 31, 2022. In the fourth quarter, revenues totaled $500.3 million versus $521.8 million in 2021. Construction Products segment revenues increased 5% to $221.9 million primarily due to strong organic pricing across its businesses that offset overall volume declines as well as the addition of RAMCO, the Southern California recycled aggregates producer acquired in May 2022. For the full year, revenues totaled $2.243 billion versus $ 2.036 billion in 2021, a 10% increase.

Commenting on the annual results, Antonio Carrillo, president and chief executive officer, noted, “Arcosa achieved significant progress in 2022, as we advanced our strategy and generated solid financial performance while navigating a challenging environment. I am proud of the entire Arcosa team, which executed consistently throughout the year to accomplish our strategic and operational objectives. Despite headwinds in our cyclical businesses, Arcosa reported full-year double digit revenue and Adjusted EBITDA growth and expanded Adjusted EBITDA margins by 70 basis points, after normalizing for the impact of the sale of the storage tanks business.

“Throughout the year, our growth businesses in Construction Products and Engineered Structures implemented proactive pricing actions to combat inflationary cost pressures. These successful efforts increased combined Adjusted EBITDA for these businesses by 20% in 2022.

“Our cyclical businesses exceeded our annual expectations as we effectively managed costs and improved operating efficiencies, despite the lower level of production. While earnings from our cyclical businesses declined year-over-year, we received large orders for both wind towers and barges during the fourth quarter, supporting our positive outlook for these businesses,” he concluded.

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