Knife River Corp. announced financial results for the first quarter ended March 31. The company reported consolidated revenue of $353.5 million, a 7% increase from the prior-year period, primarily driven by a $14.6 million increase to its contracting services revenues and price increases on asphalt, aggregates and ready-mix.
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Cemex Reports Record Net Income; Lower U.S. Sales
Cemex reported its first-quarter results as new CEO Jaime Muguiro outlined his vision for the company to the financial community for the first time. As he ushers the company into an era of sustainable and profitable growth, Muguiro’s focus lies on achieving operational excellence, increasing free cash flow and enhancing shareholder returns. The company’s growth strategy remains focused on accretive…
Read MoreVulcan Revenues Rise in First Quarter
Vulcan Materials Co. announced results for the quarter ended March 31, reporting total revenues of $1,635 billion, versus $1,546 billion in the first quarter of 2024. Aggregates segment gross profit increased 18% to $357 million ($7.48 per ton), and gross profit margin expanded 320 basis points to 26.7%. Cash gross profit per ton increased 20% to $10.63 per ton resulting from geographically…
Read MoreKnife River Enters Definitive Agreement to Acquire Strata Corp.
Knife River Corp. has entered into a definitive agreement to acquire Strata Corp., a leading construction materials and contracting services provider in North Dakota and northwestern Minnesota. Based on Strata’s projected 2025 Adj. EBITDA, the purchase price of $454 million reflects a multiple in the high single digits.
Read MoreKnife River Announces Record Results; Reports Six Acquisitions
Knife River Corp. announced financial results for the third quarter ended Sept. 30, as well as several acquisitions. For the three months ended Sept, 30,, the company reported record consolidated revenue of $1.1 billion, a 1% increase from the prior-year record revenue. Although volumes have declined as a direct result of our quality over quantity approach, record revenue was primarily…
Read MoreSummit Materials Grows Aggregates Revenues in Third Quarter
Summit Materials Inc. announced results for the third quarter ended Sept. 28, reporting that net revenue increased $369.9 million, or 49.9%, in the third quarter to $1,111.8 million. In the quarter, $403.4 million of net revenue was due to acquisitions, primarily the Argos USA transaction. Divestitures decreased net revenue by $43.6 million in the period. All lines of business experienced organic…
Read MoreEverybody Talks About The Weather
American essayist and novelist Charles Dudley Warner is known for making the famous remark, “Everybody talks about the weather, but nobody does anything about it.” Mark Twain liked it so much he stole it and everyone now attributes it to him. No matter who said it, the remark is spot on. But what can we do about it? We better…
Read MoreSmart Sand Inc. Up 18% Year-Over-Year
Smart Sand Inc. announced results for the second quarter of 2024. Tons sold were approximately 1,274,000 in the second quarter of 2024, compared to approximately 1,336,000 tons in the first quarter of 2024 and 1,084,000 tons in the second quarter of 2023, a 5% decrease sequentially and 18% increase over the comparable period in 2023. Revenues were $73.8 million in…
Read MoreArcosa Acquires Stavola; Detail Divestitures
Arcosa has entered into a definitive agreement to acquire the construction materials business of Stavola Holding Corp. and its affiliated entities for $1.2 billion in cash, subject to customary post-closing adjustments. Founded in 1948, Stavola is an aggregates-led and vertically integrated construction materials company primarily serving the New York-New Jersey Metropolitan Statistical Area (MSA) through its network of five hard…
Read MoreCemex U.S. Sales Down in Second Quarter
Cemex reported second quarter results, noting that net sales were flat at $4.494 million, reflecting difficult weather conditions in key markets offset by pricing momentum. During the quarter, Cemex achieved an important milestone with its second Investment Grade rating from Fitch Ratings. Cemex was also recognized as the top-scoring company in the World Benchmarking Alliance’s 2024 Climate and Energy Benchmark,…
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