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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18 • ROCKproducts • December 2018 www.rockproducts.com I N D U S T RY N E W S IN THE KNOW record results for the third quarter, which, for the second straight quar- ter, included all-time quar- terly highs in c o n s o l i d a t e d revenue and aggregate products volume and revenue. We continue to believe these trends reflect favorably on the demand in the markets we serve. "While the September 2018 weather presented a major obstacle for the quarter, we continue to be excited about the opportunities available to us for growth and margin expansion," he stated. "We started the third quarter on a very positive note with strong vol- umes and revenue in July and August. However, September weather, including record rainfalls yet again in the Dallas/ Fort Worth market, provided margin challenges, as we maintain certain fixed costs necessary to meet recurring demand and our existing backlog. "Our Polaris Materials acquisition continues to provide the significant returns that we expected, but on a more accelerated pace than what we origi- nally contemplated. "We are excited about the opportunity we have to capitalize on the import permit we recently obtained, which will allow us to increase the amount of product we import from Polaris at our Long Beach, Calif., terminal. We are well-positioned to benefit from our increased vertical integration and aggregates exposure and the steady multi-year cyclical recovery that we believe has substantial remaining runway in our vibrant markets. We continue to be focused on generating shareholder value by capitalizing on the strength of our regional markets, main- taining our strong cash flow generation and achieving continued profitability growth," Sandbrook concluded. FAST FACT Aggregate products revenue increased 155.4 percent to $53.5 million, an all-time quarterly high. William J. Sandbrook

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