Knife 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.

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Knife 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…

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Summit 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…

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Everybody 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…

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Smart 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…

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Arcosa 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…

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Cemex 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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Cemex Announces Aggregates Joint Venture

Cemex announced a joint venture agreement with sand and gravel supplier Couch Aggregates and marine bulk product distributor Premier Holdings. This agreement is part of Cemex’s ongoing strategy to accelerate growth in the United States and expand its aggregates business. This joint venture will strengthen Cemex’s aggregate reserves with the production, distribution and sale of sand, gravel, and limestone in…

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Knife River Revenues Jump 7% in First Quarter

Knife River Corp. announced financial results for the first quarter ended March 31. The company reported record consolidated revenue of $329.6 million, a 7% increase from the prior-year period, driven by price increases across most product lines and increased contracting services revenues.  Also in the quarter, the company experienced a seasonal net loss of $47.6 million, compared to a seasonal…

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Vulcan Materials Revenues Down Slightly in First Quarter

Vulcan Materials Co. announced results for the quarter ended March 31. Total revenues were $1.546 billion compared to $1.649 billion in the first quarter of 2023. However trailing 12-month revenues were $7.679 billion in the first quarter compared to $7.424 billion in the first quarter of 2023. Aggregates Segment total revenues were $1.291 billion, versus $1.297 billion in the first quarter of…

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