Rock Products

DEC 2018

Rock Products is the aggregates industry's leading source for market analysis and technology solutions, delivering critical content focusing on aggregates-processing equipment; operational efficiencies; management best practices; comprehensive market

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Page 17 of 99

16 • ROCKproducts • December 2018 I N D U S T RY N E W S IN THE KNOW Since August 2018, Summit has completed two aggregates-based acquisitions for total invested capital of $72 million. During 2018 to date, Summit has completed 13 acquisi- tions for total invested capital of $300 million. Across these 13 transactions, Summit has added more than 400 million tons of aggregates reserves to its portfolio. Aggregates net revenues increased by 21 percent to $109.6 million in the third quarter 2018, when compared to the prior year period. Aggregates adjusted cash gross profit margin declined to 69.2 percent in the third quar- ter, compared to 73.0 percent in the prior year period, due to higher variable costs. Organic aggregates sales volumes increased 3.9 percent in the third quarter, when compared to the prior-year period. Organic growth in aggregates sales vol- umes was due to higher volumes in the West region, which more than offset a decline in organic aggregates sales vol- umes in the East region. Organic average selling prices on aggregates increased 1.5 percent in the third quarter 2018 due to improvements in prices within both the West and East segments during the period. U.S. Concrete Inc. reported that for the quarter ended Sept. 30, 2018, its consol- idated revenue increased 14 percent to $404.3 million, an all-time quarterly high. • Ready-mixed concrete revenue increased 7 percent to $346.2 million. • Ready-mixed concrete volume grew by 5.8 percent. • Aggregate products revenue increased 155.4 percent to $53.5 million, an all- time quarterly high. • Aggregate products volume increased 113.8 percent to 3.2 million tons, an all- time quarterly high. • Polaris Materials acquisition contrib- uted revenue and volume of $28.2 million and 1.6 million tons, respectively, both all-time quarterly highs. • Ready-mixed concrete backlog increased 1.9 percent to 8.1 million cu. yd. • Net cash provided by operating activ- ities increased $11.3 million to $42.4 million. • Adjusted Free Cash Flow increased $29.1 million to $45.5 million. William J. Sandbrook, chairman, president and chief executive officer of U.S. Concrete Inc. stated, "We are pleased to report U.S. Concrete Reports Record Aggregates Revenues ROLLER CHAINS • ENGINEERING CLASS CHAINS • BACKSTOPS • SPROCKETS • CABLE & HOSE CARRIERS • POWER TRANSMISSION PRODUCTS U S T S U B A K I . C O M Total Package WHY RISK GOING WITH ANY OTHER BRAND? Stack the deck in your favor by choosing Tsubaki chains, sprockets and backstops. U.S. Tsubaki's portfolio of Mining products will provide the reliability and durability required to keep your operation running at its best, even in the harshest conditions. U.S. Tsubaki's leading service and engineering support will design the right solutions for your application, minimizing downtime and saving you money. So be an ACE and go ALL IN with Tsubaki! DEAL YOURSELF A WINNING HAND © 2016 U.S. Tsubaki Power Transmission, LLC All Rights Reserved.

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