Arcosa, Inc. Announces Second Quarter 2021 Results and Acquisition of Southwest Rock Products
Summary
Commenting on the outlook, Carrillo noted, “Our 2021 Adjusted EBITDA guidance keeps us on a path to meet or exceed 2020’s strong results, despite additional weakness in our barge business and higher raw materials costs. While high steel pricing has curtailed order activity for some of our business lines, our outlook and longer-term fundamentals remain strong.” • Revenues increased 38% to $204.5 million, primarily driven by the acquisition of StonePoint, a top 25 U.S. construction aggregates company acquired in April. • Demand was generally stronger across our natural and recycled aggregates businesses serving construction end markets, but excessive rainfall during the quarter impacted sales volumes, especially our operations in Texas and along the Gulf Coast. • Order inquires for steel components increased during the quarter as the new rail car market continues to show signs of improvement, and third-party forecasts indicate a higher level of North American railcar deliveries in 2022. Arcosa uses the words “anticipates,” “assumes,” “believes,” “estimates,” “expects,” “intends,” “forecasts,” “may,” “will,” “should,” “guidance,” “outlook,” “strategy,” and similar expressions to identify these forward-looking statements.