Rock Products

JAN 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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26 • ROCK products • January 2018 www.rockproducts.com Aggregate Industry Market Report I t has been a busy quarter for the nation's aggregates producers. Figure 1 includes the constituents of Headwaters Aggre- gates Materials Index as of 9/30/2017. Headwaters MB Aggregate Industry Market Report In This Exclusive Analysis Prepared for Rock Products , Headwaters MB Looks at Current Market Trends Such As Mergers and Acquisitions, Aggregate Production and Pricing. By Brian Krehbiel Public Valuation Commentary •  Average trailing 12 months (TTM) EBITDA margins decreased from 19.8 percent to 19.7 percent from the prior quarter while average EBITDA multiples were largely flat over the same period. • TTM EBITDA margins remained relatively flat or declined for all constituents of the Headwaters Aggregates Materials index in Q3 except Summit Materials which increased 80 basis points from 20.3 percent to 21.1 percent. Aggregates Performance 2017 YTD Total Returns (Figure 2): • Aggregate Materials Index – (5.8) percent. • S&P 500 – 20.5 percent. • Dow Jones Industrial Average – 22.8 percent. During Q3 2017, tax reform has taken the focus in Washing- ton and few updates on the $1 trillion Trump infrastructure plan have been given this quarter. Trump has promised to unveil details of the plan after Congress passes an overhaul of the tax code. Source: FactSet

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