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Business Wire
07-08-2025
- Business
- Business Wire
Arcosa, Inc. Announces Record Second Quarter 2025 Results
DALLAS--(BUSINESS WIRE)--Arcosa, Inc. (NYSE: ACA) ('Arcosa,' the 'Company,' 'We,' or 'Our'), a provider of infrastructure-related products and solutions, today announced results for the second quarter ended June 30, 2025. Second Quarter 2025 Highlights Antonio Carrillo, President and Chief Executive Officer, commented, 'This was a record quarter for Arcosa in many respects and highlights the impact of recent strategic actions we have taken to enhance our growth businesses, reduce our cyclicality, and expand margin. In recognition of our portfolio shift, we have expanded our disclosures around our key growth businesses, construction materials and utility structures. 'One year ago, we announced our plan to acquire Stavola, an aggregates-led construction materials company. This quarter we clearly see the accretive impact of the acquisition, which increased Arcosa's consolidated revenues by 14% and consolidated Adjusted EBITDA margin by 250 basis points. Stavola has accelerated the growth of our construction materials platform, contributing to the 13% increase in gross profit for our aggregates business and 15% improvement in Aggregates Adjusted Cash Gross Profit per Ton. 'Engineered Structures also delivered strong results, achieving record top-line and Adjusted Segment EBITDA margin driven by strong execution in utility structures and higher wind tower volumes. The U.S. grid is facing an extended period of load growth, requiring significant additions to power generation capacity, all of which needs to be connected to the grid. These tailwinds are creating strong underlying demand reflected in record second quarter backlog for our utility structures business. 'Our barge business is performing in line with expectations and order activity is healthy. Including orders placed after quarter-end, we have solidified our 2025 production plans, and our backlog for both hopper and tank barges now extends into 2026.' Carrillo concluded, 'We generated $61 million of operating cash flow during the quarter and ended with Net Debt to Adjusted EBITDA of 2.8 times, both a sequential improvement from the first quarter. We continue to prioritize deleveraging following the Stavola acquisition and are on track to reach our target leverage range of 2.0-2.5 times within the next three quarters, consistent with our stated goal.' 2025 Outlook and Guidance The Company is tightening the range for its full year 2025 guidance, resulting in no change to the mid-point of the range for consolidated revenue and Adjusted EBITDA: Consolidated revenues range of $2.85 billion to $2.95 billion, compared to its previous guidance range of $2.8 billion to $3.0 billion. Consolidated Adjusted EBITDA range of $555 million to $585 million, compared to its previous guidance range of $545 million to $595 million. Guidance range includes the direct impact of tariffs, as currently outlined, which is expected to be immaterial. 'Arcosa remains on track for strong growth in 2025. Our U.S.-focused operations are well-aligned with long-term infrastructure and power market tailwinds. Given healthy overall demand in our growth businesses along with solid backlog visibility in our cyclical businesses, we are tightening our guidance range while maintaining the mid-point, to reflect increased confidence in our overall outlook,' concluded Mr. Carrillo. Second Quarter 2025 Results and Commentary All comparisons are versus the prior year quarter unless noted otherwise. Construction Products Revenues increased 28% to a record $354.5 million driven by the contribution from the construction materials business of Stavola Holding Corporation and its affiliated entities (collectively 'Stavola'), acquired in October 2024, which added $90.3 million to revenues during the quarter. Organic revenues declined 4% as higher pricing was offset by lower volumes, which were impacted by wet weather throughout the quarter, a decrease in freight revenue, and a reduction in revenue from several small divestitures completed in the prior period. Adjusted Segment EBITDA increased 44% to a record $100.4 million and Adjusted Segment EBITDA Margin increased 310 basis points to 28.3% from 25.2% in the prior period. Freight-Adjusted Segment EBITDA Margin was 31.0% compared to 28.0% in the prior period. Stavola contributed $35.2 million to Adjusted Segment EBITDA during the quarter and increased Adjusted Segment EBITDA Margin by 360 basis points. On an organic basis, Adjusted Segment EBITDA decreased 6% and Adjusted Segment EBITDA Margin decreased slightly primarily due to the decline in revenues and lower cost absorption from reduced volumes. Within aggregates, total volumes increased 6% and Aggregates Freight-Adjusted Average Sales Price increased 8%, resulting in Aggregates Adjusted Cash Gross Profit per Ton growth of 15%. Depreciation, depletion, and amortization expense increased $12.4 million, or 42%, primarily due to the acquisition of Stavola. Engineered Structures Revenues increased 7% to $293.0 million primarily due to higher volumes from the fully ramped New Mexico wind towers facility. Revenues for utility and related structures decreased 2% as higher volumes and improved product mix were offset by the impact of lower steel prices. Adjusted Segment EBITDA increased 31% to $54.8 million due to significant organic growth across our businesses. Margin expanded 350 basis points to a record 18.7% due to improved product mix and operating efficiencies in our utility and related structures business and higher wind tower volumes. The ongoing focus on grid hardening and reliability efforts and increased demand for electricity continue to drive strong order activity for our utility structures business. We ended the second quarter with a record backlog for utility and related structures of $450.0 million, up 9% from the start of the year. The backlog for our wind towers business at the end of the second quarter was $598.6 million, down 23% from the start of the year. We expect to deliver 30% of our current backlog during 2025 and the remainder through 2028. Following the passage of the budget reconciliation bill in July, order inquiry activity has increased as policy uncertainty has improved. Transportation Products Prior period results included revenues and Adjusted EBITDA of $38.1 million and $4.4 million, respectively, for the steel components business, which was divested in August 2024. Revenues for our barge business increased 18% primarily due to higher tank barge deliveries, partially offset by lower hopper barge deliveries. Excluding the impact of the divested steel components business, Adjusted Segment EBITDA increased 10%, to $13.5 million, driven by higher tank barge deliveries. Adjusted Segment EBITDA Margin, excluding the divested steel components business, was 15.1% down from 16.2% in the prior period, in-line with expectations. During the quarter, we received barge orders totaling approximately $33 million primarily for hopper barges for 2025 delivery. For the first half of the year, the barge business recorded a book-to-bill of 1.0. Our barge backlog at the end of the quarter was $277.0 million, roughly flat with the start of the year. We expect to deliver approximately 57% of our current backlog during 2025. Third quarter order volume has increased, and we have currently received $122 million in additional orders. Backlog visibility has improved for hopper barges, now extending into 2026, and our line of sight for tank barges extends deep into the fourth quarter of next year. Corporate and Other Financial Notes Excluding acquisition and divestiture-related costs, which have been excluded from Adjusted EBITDA, corporate expenses decreased to $14.9 million from $16.0 million in the prior period. Acquisition and divestiture-related costs were $0.5 million in the second quarter compared to $3.9 million in the prior period. Interest expense totaled $28.5 million, an increase of $17.1 million from the prior period driven by the additional debt incurred to finance the Stavola acquisition. The effective tax rate for the second quarter was 14.5% compared to 14.3% in the prior period. Cash Flow and Liquidity Operating cash flow was $61.2 million during the second quarter, an increase of $22.9 million compared to the prior period, primarily due to higher earnings, partially offset by increased working capital. Working capital was a $75.6 million net use of cash for the quarter compared to the prior period's $49.3 million net use of cash. The increase in cash required for working capital was primarily due to higher receivables and inventories in-line with the increase to revenues. Capital expenditures in the second quarter were $27.8 million, compared to $47.6 million in the prior period. Free Cash Flow for the quarter was $39.2 million, up from $(6.1) million in the prior period. Net Debt to Adjusted EBITDA was 2.8x for the trailing twelve months, down slightly from 2.9x at the end of the first quarter, as we continue to make progress reducing our leverage following the Stavola acquisition. We ended the quarter with total liquidity of $889.7 million, including $189.7 million of cash and cash equivalents and full availability under our $700 million revolving credit facility. Non-GAAP Financial Information This earnings release contains financial measures that have not been prepared in accordance with U.S. generally accepted accounting principles ('GAAP'). Reconciliations of non-GAAP financial measures to the closest GAAP measure are included in the accompanying tables to this earnings release. Conference Call Information A conference call is scheduled for 8:30 a.m. Eastern Time on August 8, 2025 to discuss second quarter 2025 results. To listen to the conference call webcast, please visit the Investor Relations section of Arcosa's website at A slide presentation for this conference call will be posted on the Company's website in advance of the call at The audio conference call number is 800-723-6494 for domestic callers and 785-424-1619 for international callers. The conference ID is ARCOSA and the passcode is 10156. An audio playback will be available through 11:59 p.m. Eastern Time on August 22, 2025, by dialing 800-839-9324 for domestic callers and 402-220-6086 for international callers. A replay of the webcast will be available for one year on Arcosa's website at About Arcosa Arcosa, Inc. (NYSE:ACA), headquartered in Dallas, Texas, is a provider of infrastructure-related products and solutions with leading positions in construction, engineered structures, and transportation markets. Arcosa reports its financial results in three principal business segments: Construction Products, Engineered Structures, and Transportation Products. For more information, visit Some statements in this release, which are not historical facts, are 'forward-looking statements' as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about Arcosa's estimates, expectations, beliefs, intentions or strategies for the future. Arcosa uses the words 'anticipates,' 'assumes,' 'believes,' 'estimates,' 'expects,' 'intends,' 'forecasts,' 'may,' 'will,' 'should,' 'guidance,' 'outlook,' 'strategy,' 'plans,' 'goal,' and similar expressions to identify these forward-looking statements. Forward-looking statements speak only as of the date of this release, and Arcosa expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein, except as required by federal securities laws. Forward-looking statements are based on management's current views and assumptions and involve risks and uncertainties that could cause actual results to differ materially from historical experience or our present expectations, including but not limited to assumptions, risks and uncertainties regarding the failure to successfully complete or integrate acquisitions, including Ameron and Stavola, or divest any business, or failure to achieve the expected benefits of acquisitions or divestitures; market conditions and customer demand for Arcosa's business products and services; the impact of Arcosa's level of indebtedness; the cyclical nature of, and seasonal or weather impact on, the industries in which Arcosa competes; competition and other competitive factors; governmental and regulatory factors; changing technologies; availability of growth opportunities; market recovery; ability to improve margins; the impact of inflation and costs of materials; impacts from the Inflation Reduction Act and One Big Beautiful Bill Act; the delivery or satisfaction of any backlog or firm orders; the impact of pandemics on Arcosa's business; the impact of tariffs; and Arcosa's ability to execute its long-term strategy, and such forward-looking statements are not guarantees of future performance. For further discussion of such risks and uncertainties, see 'Risk Factors' and the 'Forward-Looking Statements' section of 'Management's Discussion and Analysis of Financial Condition and Results of Operations' in Arcosa's Form 10-K for the year ended December 31, 2024 and as may be revised and updated by Arcosa's Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Arcosa, Inc. Condensed Segment Data (in millions) (unaudited) Three Months Ended June 30, Six Months Ended June 30, Revenues: 2025 2024 2025 2024 Aggregates $ 194.0 $ 169.7 $ 359.3 $ 328.6 Specialty materials and asphalt 133.3 66.0 206.5 129.2 Aggregates intrasegment sales (10.3 ) (0.2 ) (14.4 ) (0.6 ) Total Construction Materials 317.0 235.5 551.4 457.2 Construction site support 37.5 40.6 65.9 70.1 Construction Products 354.5 276.1 617.3 527.3 Utility and related structures 205.2 209.4 401.0 386.7 Wind towers 87.8 65.4 176.8 119.7 Engineered Structures 293.0 274.8 577.8 506.4 Inland barges 89.4 75.7 173.8 155.4 Steel components (1) — 38.1 — 74.2 Transportation Products 89.4 113.8 173.8 229.6 Segment Totals before Eliminations 736.9 664.7 1,368.9 1,263.3 Eliminations — — — — Three Months Ended June 30, Six Months Ended June 30, Operating profit (loss): 2025 2024 2025 2024 Construction Products $ 58.6 $ 39.4 $ 76.9 $ 68.2 Engineered Structures 42.8 35.1 81.8 61.4 Transportation Products (1) 8.8 12.6 22.7 27.2 Segment Total 110.2 87.1 181.4 156.8 Corporate (15.4 ) (19.9 ) (30.8 ) (36.2 ) Consolidated Total $ 94.8 $ 67.2 $ 150.6 $ 120.6 Expand Backlog: June 30, 2025 December 31, 2024 June 30, 2024 Engineered Structures: Utility and related structures $ 450.0 $ 414.0 $ 424.6 Wind towers $ 598.6 $ 776.8 $ 914.1 Transportation Products: Inland barges $ 277.0 $ 280.1 $ 251.5 (1) On August 16, 2024, the Company completed the divestiture of the steel components business. See Reconciliation of Adjusted EBITDA for Steel Components table for the contribution of the steel components business to operating profit, included above, for the three and six months ended June 30, 2024. Expand Arcosa, Inc. Condensed Consolidated Balance Sheets (in millions) (unaudited) June 30, 2025 December 31, 2024 Current assets: Cash and cash equivalents $ 189.7 $ 187.3 Receivables, net of allowance 477.0 350.2 Inventories 406.8 359.9 Other 43.2 56.6 Total current assets 1,116.7 954.0 Property, plant, and equipment, net 2,100.9 2,129.4 Goodwill 1,343.4 1,361.2 Intangibles, net 324.2 338.3 Deferred income taxes 2.6 2.8 Other assets 123.8 129.8 $ 5,011.6 $ 4,915.5 Current liabilities: Accounts payable $ 297.5 $ 237.3 Accrued liabilities 161.4 166.4 Advance billings 58.4 100.2 Current portion of long-term debt 10.2 12.1 Total current liabilities 527.5 516.0 Debt 1,673.3 1,676.8 Deferred income taxes 212.5 200.6 Other liabilities 90.0 93.9 2,503.3 2,487.3 Stockholders' equity: Common stock 0.5 0.5 Capital in excess of par value 1,697.4 1,696.5 Retained earnings 827.2 748.9 Accumulated other comprehensive loss (16.8 ) (17.7 ) 2,508.3 2,428.2 $ 5,011.6 $ 4,915.5 Expand Arcosa, Inc. Consolidated Statements of Cash Flows (in millions) (unaudited) Six Months Ended June 30, 2025 2024 Operating activities: Net income $ 83.3 $ 84.8 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, depletion, and amortization 109.7 89.4 Impairment charge — 5.8 Stock-based compensation expense 13.4 14.1 Provision for deferred income taxes 11.9 14.4 Gain on disposition of property, plant, equipment, and other assets (8.3 ) (5.9 ) (Gain) loss on sale of businesses 2.5 (19.5 ) (Increase) decrease in other assets 2.3 (4.2 ) Increase (decrease) in other liabilities (3.7 ) (9.7 ) Other 5.7 (5.7 ) Changes in current assets and liabilities: (Increase) decrease in receivables (126.3 ) (80.6 ) (Increase) decrease in inventories (50.7 ) 21.9 (Increase) decrease in other current assets 13.4 11.3 Increase (decrease) in accounts payable 60.1 (11.3 ) Increase (decrease) in advance billings (41.8 ) (2.3 ) Increase (decrease) in accrued liabilities (11.0 ) 16.3 Net cash provided by operating activities 60.5 118.8 Investing activities: Proceeds from disposition of property, plant, equipment, and other assets 10.8 7.4 Proceeds from sale of businesses — 33.3 Capital expenditures (61.8 ) (102.0 ) Cash received (paid) for acquisitions 17.6 (179.9 ) Net cash required by investing activities (33.4 ) (241.2 ) Financing activities: Payments to retire debt (6.6 ) (63.4 ) Proceeds from issuance of debt — 200.0 Dividends paid to common stockholders (5.0 ) (4.9 ) Purchase of shares to satisfy employee tax on vested stock (12.4 ) (10.4 ) Debt issuance costs (0.7 ) — Net cash (required) provided by financing activities (24.7 ) 121.3 Net increase (decrease) in cash and cash equivalents 2.4 (1.1 ) Cash and cash equivalents at beginning of period 187.3 104.8 Cash and cash equivalents at end of period $ 189.7 $ 103.7 Expand Arcosa, Inc. Reconciliation of Adjusted Net Income and Adjusted Diluted EPS (unaudited) GAAP does not define 'Adjusted Net Income' and it should not be considered as an alternative to earnings measures defined by GAAP, including net income. We use this metric to assess the operating performance of our consolidated business. We adjust net income for certain items that are not reflective of the normal operations of our business to provide investors with what we believe is a more consistent comparison of earnings performance from period to period. Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 (in millions) Net income $ 59.7 $ 45.6 $ 83.3 $ 84.8 (Gain) loss on sale of businesses, net of tax 2.1 (9.7 ) 1.9 (15.0 ) Impact of acquisition and divestiture-related expenses, net of tax (1) 0.4 4.3 1.0 6.4 Impairment charge, net of tax — 4.5 — 4.5 Adjusted Net Income $ 62.2 $ 44.7 $ 86.2 $ 80.7 Expand GAAP does not define 'Adjusted Diluted EPS' and it should not be considered as an alternative to earnings measures defined by GAAP, including diluted EPS. We use this metric to assess the operating performance of our consolidated business. We adjust diluted EPS for certain items that are not reflective of the normal operations of our business to provide investors with what we believe is a more consistent comparison of earnings performance from period to period. Three Months Ended June 30, Six Months Ended June 30, (in dollars per share) Diluted EPS $ 1.22 $ 0.93 $ 1.70 $ 1.74 (Gain) loss on sale of businesses 0.04 (0.20 ) 0.04 (0.31 ) Impact of acquisition and divestiture-related expenses (1) 0.01 0.09 0.02 0.13 Impairment charge — 0.09 — 0.09 Adjusted Diluted EPS $ 1.27 $ 0.91 $ 1.76 $ 1.65 (1) Expenses associated with acquisitions and divestitures, including the cost impact of the fair value markup of acquired inventory, advisory and professional fees, integration, separation, and other transaction costs. Expand Arcosa, Inc. Reconciliation of Adjusted EBITDA ($ in millions) (unaudited) 'EBITDA' is defined as net income plus interest, taxes, depreciation, depletion, and amortization. 'Adjusted EBITDA' is defined as EBITDA adjusted for certain items that are not reflective of the normal earnings of our business. GAAP does not define EBITDA or Adjusted EBITDA and they should not be considered as alternatives to earnings measures defined by GAAP, including net income. We use Adjusted EBITDA to assess the operating performance of our consolidated business, as a metric for incentive-based compensation, as a measure within our lending arrangements, and as a basis for strategic planning and forecasting as we believe that it closely correlates to long-term shareholder value. As a widely used metric by analysts, investors, and competitors in our industry, we believe Adjusted EBITDA also assists investors in comparing a company's performance on a consistent basis without regard to depreciation, depletion, amortization, and other items which can vary significantly depending on many factors. 'Adjusted EBITDA Margin' is defined as Adjusted EBITDA divided by Revenues. 2025 2024 2025 2024 Low High Revenues $ 736.9 $ 664.7 $ 1,368.9 $ 1,263.3 $ 2,850.0 $ 2,950.0 Net income 59.7 45.6 83.3 84.8 187.2 202.7 Add: Interest expense, net 27.2 10.7 53.7 17.3 100.0 103.0 Provision for income taxes 10.1 7.6 15.7 15.7 41.1 47.6 Depreciation, depletion, and amortization expense (1) 56.1 46.6 109.7 89.4 225.0 230.0 EBITDA 153.1 110.5 262.4 207.2 553.3 583.3 Add (less): (Gain) loss on sale of businesses 2.8 (12.5 ) 2.5 (19.5 ) 2.5 2.5 Impact of acquisition and divestiture-related expenses (2) 0.5 5.6 1.3 8.4 1.3 1.3 Impairment charge — 5.8 — 5.8 — — Other, net (income) expense (2.2 ) 3.3 (2.1 ) 2.8 (2.1 ) (2.1 ) Adjusted EBITDA $ 154.2 $ 112.7 $ 264.1 $ 204.7 $ 555.0 $ 585.0 Adjusted EBITDA Margin 20.9 % 17.0 % 19.3 % 16.2 % 19.5 % 19.8 % (1) Includes the impact of the fair value markup of acquired long-lived assets, subject to final purchase price adjustments. (2) Expenses associated with acquisitions and divestitures, including the cost impact of the fair value markup of acquired inventory, advisory and professional fees, integration, separation, and other transaction costs. Expand Arcosa, Inc. Reconciliation of Adjusted Segment EBITDA ($ in millions) (unaudited) 'Segment EBITDA' is defined as segment operating profit plus depreciation, depletion, and amortization. 'Adjusted Segment EBITDA' is defined as Segment EBITDA adjusted for certain items that are not reflective of the normal earnings of our business. GAAP does not define Segment EBITDA or Adjusted Segment EBITDA and they should not be considered as alternatives to earnings measures defined by GAAP, including segment operating profit. We use Adjusted Segment EBITDA to assess the operating performance of our businesses, as a metric for incentive-based compensation, and as a basis for strategic planning and forecasting as we believe that it closely correlates to long-term shareholder value. As a widely used metric by analysts, investors, and competitors in our industry we believe Adjusted Segment EBITDA also assists investors in comparing a company's performance on a consistent basis without regard to depreciation, depletion, amortization, and other items, which can vary significantly depending on many factors. 'Adjusted Segment EBITDA Margin' is defined as Adjusted Segment EBITDA divided by Revenues. 2025 2024 2025 2024 2025 Construction Products Revenues $ 354.5 $ 276.1 $ 617.3 $ 527.3 $ 1,195.1 Operating Profit 58.6 39.4 76.9 68.2 142.6 Add: Depreciation, depletion, and amortization expense (1) 41.8 29.4 80.4 59.5 155.6 Segment EBITDA 100.4 68.8 157.3 127.7 298.2 Less: Gain on sale of businesses — (5.0 ) — (5.0 ) — Add: Impact of acquisition and divestiture-related expenses (2) — 0.1 — 1.3 10.9 Add: Impairment charge — 5.8 — 5.8 — Adjusted Segment EBITDA $ 100.4 $ 69.7 $ 157.3 $ 129.8 $ 309.1 Adjusted Segment EBITDA Margin 28.3 % 25.2 % 25.5 % 24.6 % 25.9 % Engineered Structures Revenues $ 293.0 $ 274.8 $ 577.8 $ 506.4 $ 1,118.7 Operating Profit 42.8 35.1 81.8 61.4 146.8 Add: Depreciation and amortization expense (1) 12.0 12.5 24.7 20.4 49.7 Segment EBITDA 54.8 47.6 106.5 81.8 196.5 Add: Impact of acquisition and divestiture-related expenses (2) — 1.6 — 1.6 — Less: Gain on sale of businesses — (7.5 ) — (14.5 ) — Adjusted Segment EBITDA $ 54.8 $ 41.7 $ 106.5 $ 68.9 $ 196.5 Adjusted Segment EBITDA Margin 18.7 % 15.2 % 18.4 % 13.6 % 17.6 % Transportation Products Revenues $ 89.4 $ 113.8 $ 173.8 $ 229.6 $ 361.8 Operating Profit 8.8 12.6 22.7 27.2 25.7 Add: Depreciation and amortization expense 1.9 4.1 3.8 8.1 8.3 Segment EBITDA 10.7 16.7 26.5 35.3 34.0 Add: Loss on sale of businesses 2.8 — 2.5 — 24.1 Adjusted Segment EBITDA $ 13.5 $ 16.7 $ 29.0 $ 35.3 $ 58.1 Adjusted Segment EBITDA Margin 15.1 % 14.7 % 16.7 % 15.4 % 16.1 % Operating Loss - Corporate $ (15.4 ) $ (19.9 ) $ (30.8 ) $ (36.2 ) $ (87.5 ) Add: Impact of acquisition and divestiture-related expenses - Corporate (2) 0.5 3.9 1.3 5.5 28.5 Add: Corporate depreciation expense 0.4 0.6 0.8 1.4 1.7 Adjusted EBITDA $ 154.2 $ 112.7 $ 264.1 $ 204.7 $ 506.4 (1) Includes the impact of the fair value markup of acquired long-lived assets, subject to final purchase price adjustments. (2) Expenses associated with acquisitions and divestitures, including the cost impact of the fair value markup of acquired inventory, advisory and professional fees, integration, separation, and other transaction costs. Expand Arcosa, Inc. Reconciliation of Non-GAAP Measures for Construction Products (in millions, except per ton amounts) (unaudited) 'Aggregates Freight-Adjusted Revenues' is defined as aggregates revenues less freight and delivery, which are pass-through activities, and other revenues, which are largely service related. We use this metric to calculate 'Aggregates Freight-Adjusted Average Sales Price', which is Aggregates Freight-Adjusted Revenues divided by shipments. 'Aggregates Adjusted Cash Gross Profit' is defined as aggregates gross profit plus depreciation, depletion, and amortization and adjusted for certain items that are not reflective of the normal earnings of our business. 'Aggregates Adjusted Cash Gross Profit Per Ton' is Aggregates Adjusted Cash Gross Profit divided by shipments. GAAP does not define these metrics and they should not be considered as alternatives to earnings measures defined by GAAP, including aggregates revenues and aggregates gross profit. We believe that this presentation is consistent with our competitors. These metrics are used by analysts and investors in comparing a company's performance on a consistent basis. 2025 2024 2025 2024 Aggregates Aggregates revenues $ 194.0 $ 169.7 $ 359.3 $ 328.6 Less: Freight and other revenues (35.3 ) (31.5 ) (62.5 ) (62.6 ) Aggregates Freight-Adjusted Revenues $ 158.7 $ 138.2 $ 296.8 $ 266.0 Aggregates gross profit 48.2 42.8 82.9 80.4 Add: Depreciation, depletion, and amortization 25.1 17.5 47.2 35.5 Add: Impact of acquisition and divestiture-related expenses — 0.1 — 1.3 Aggregates Adjusted Cash Gross Profit $ 73.3 $ 60.4 $ 130.1 $ 117.2 Aggregates shipments - tons 8.9 8.4 16.6 16.3 Aggregates Freight-Adjusted Average Sales Price $ 17.83 $ 16.45 $ 17.88 $ 16.32 Aggregates Adjusted Cash Gross Profit per Ton $ 8.24 $ 7.19 $ 7.84 $ 7.19 Expand 'Freight-Adjusted Revenues' for Construction Products is defined as segment revenues less freight and delivery, which are pass-through activities. GAAP does not define Freight-Adjusted Revenues and it should not be considered as alternatives to earnings measures defined by GAAP, including revenues. We use Freight-Adjusted Revenues in the review of our operating results. We also believe that this presentation is consistent with our competitors. As a widely used metric by analysts and investors, this metric assists in comparing a company's performance on a consistent basis. 'Freight-Adjusted Segment EBITDA Margin' is defined as Freight-Adjusted Revenues divided by Adjusted Segment EBITDA. Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Construction Products Revenues $ 354.5 $ 276.1 $ 617.3 $ 527.3 Less: Freight revenues (30.3 ) (27.1 ) (52.5 ) (51.0 ) Freight-Adjusted Revenues $ 324.2 $ 249.0 $ 564.8 $ 476.3 Adjusted Segment EBITDA (1) $ 100.4 $ 69.7 $ 157.3 $ 129.8 Adjusted Segment EBITDA Margin (1) 28.3 % 25.2 % 25.5 % 24.6 % Freight-Adjusted Segment EBITDA Margin 31.0 % 28.0 % 27.9 % 27.3 % (1) See Reconciliation of Adjusted Segment EBITDA table. Expand Arcosa, Inc. Reconciliation of Free Cash Flow and Net Debt to Adjusted EBITDA ($ in millions) (unaudited) GAAP does not define 'Free Cash Flow' and it should not be considered as an alternative to cash flow measures defined by GAAP, including cash flow from operating activities. We define Free Cash Flow as cash provided by operating activities less capital expenditures net of the proceeds from the disposition of property, plant, equipment, and other assets. We use this metric to assess the liquidity of our consolidated business. We present Free Cash Flow for the convenience of investors who use it in their analysis and for shareholders who need to understand the metric we use to assess performance and monitor our cash and liquidity positions. Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Cash provided by operating activities $ 61.2 $ 38.3 $ 60.5 $ 118.8 Capital expenditures (27.8 ) (47.6 ) (61.8 ) (102.0 ) Proceeds from disposition of property, plant, equipment, and other assets 5.8 3.2 10.8 7.4 Free Cash Flow $ 39.2 $ (6.1 ) $ 9.5 $ 24.2 Expand GAAP does not define 'Net Debt' and it should not be considered as an alternative to cash flow or liquidity measures defined by GAAP. The Company uses Net Debt, which it defines as total debt minus cash and cash equivalents to determine the extent to which the Company's outstanding debt obligations would be satisfied by its cash and cash equivalents on hand. The Company also uses 'Net Debt to Adjusted EBITDA', which it defines as Net Debt divided by Adjusted EBITDA for the trailing twelve months as a metric of its current leverage position. We present this metric for the convenience of investors who use such metrics in their analysis and for shareholders who need to understand the metrics we use to assess performance and monitor our cash and liquidity positions. Total debt excluding debt issuance costs $ 1,700.5 Cash and cash equivalents 189.7 Net Debt $ 1,510.8 Adjusted EBITDA (trailing twelve months) (1) $ 544.1 Net Debt to Adjusted EBITDA 2.8 (1) Adjusted EBITDA includes an upward pro forma adjustment for Stavola, acquired on October 1, 2024, of $36.4 million, which was Stavola's Adjusted EBITDA for the three months ended September 30, 2024, to reflect the three-month pro forma impact on our Adjusted EBITDA as if the acquisition had occurred on December 31, 2023. Also included is a $1.3 million upward pro forma adjustment to exclude Adjusted EBITDA loss from the steel components business during the period, which was divested on August 16, 2024. Expand Three Months Ended June 30, Six Months Ended June 30, 2025 2025 Stavola Operating Profit $ 22.9 $ 11.9 Add: Depreciation, depletion, and amortization expense 12.3 21.3 Stavola EBITDA 35.2 33.2 Stavola Adjusted EBITDA $ 35.2 $ 33.2 Expand
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- CNBC
The Home Depot parking lot labor economy at heart of Trump's ICE immigration battle
Home improvement store parking lots were once teeming with aspiring laborers looking for a day's work. Contractors needing temporary help would swing by and scoop up a few workers for the day, and a symbiotic ecosystem thrived. Workers could snag a day's pay, and contractors could get cheap, temporary help without all the paperwork. Since President Trump was reelected, labor experts have warned of unpredictable outcomes for sectors dependent on immigrant labor, including construction and residential housing. The recent Immigration and Customs Enforcement raids in Los Angeles area Home Depot store parking lots sparked protests and put a nationwide pall over the day laborer community. But beyond the deployment of troops and political finger-pointing, labor experts say that the Home Depot parking lot sweeps could have wide-ranging effects on whether critical work in the U.S. gets done. George Carrillo, CEO of the Hispanic Construction Council, estimates there are tens of thousands of "parking lot day laborers" across the country and that the recent ICE raids will have a chilling effect that ripples through the entire economy. "We have members reaching out to us seeing what they should do; they are scared," Carrillo said. The practice of workers gathering in home improvement store parking lots to seek employment is a longstanding part of the labor landscape and many of these workers come from Latin American countries, including Mexico, Guatemala, Honduras, and El Salvador, which are among the countries targeted by the Trump administration's tightening immigration policies. "They are trying to earn a living and have a tough decision to make: pop my head out and get deported or don't and can't support my family," Carrillo said. Carrillo says he is hearing more and more reports of ICE raids targeting construction sites where whole groups of workers are rounded up. The day laborer crackdown will exacerbate an already tenuous labor market in the U.S. The Hispanic Construction Council estimates a nationwide construction workforce shortage of 500,000 workers. Carrillo says that construction projects were 14% behind schedule when Trump took office, but that has now risen to 22% as deportations and immigration enforcement have thinned out the construction labor market. "We are getting farther behind on projects, and we are seeing across the country wherever there is a crackdown, people are not showing up for work," Carrillo said. Day laborers are not the workers on massive construction projects, more likely to be picked up by subcontractors who need help painting or reframing closets. But he added, "If the smaller subcontractor can't get those jobs done, it has a ripple effect throughout the construction industry." Jason Greer, a labor consultant and founder and CEO of Greer consulting, says that the crackdown is causing a slowdown in construction due to a shortage in labor. "Day laborers are scared to death to show up at places like Lowes, Home Depot, etc. because they do not want to be arrested by ICE," he said. While ICE has not commented directly on the Home Depot raids, they told the Los Angeles NBC affiliate "U.S. Immigration and Customs Enforcement officers and agents are on the streets every day, prioritizing public safety by locating, arresting, and removing criminal alien offenders and immigration violators from our neighborhoods," ICE's statement read. "All aliens in violation of U.S. immigration law may be subject to arrest, detention and if found removable by final order, removed from the U.S. Home Depot tells CNBC while it does not allow laborers to sell their services on the premises, they are also not involved in any ICE operations. "Like many businesses, we have a longstanding no-solicitation policy, which prohibits anybody from selling goods or services on our property," said a Home Depot spokesperson. "I'd also add that we aren't notified when ICE activity is going to happen, and we aren't involved in the operations. We instruct associates to report the incident immediately and not to engage in the activity for their safety. If associates feel uncomfortable after witnessing ICE activity, we offer them the option to go home for the rest of the day, with pay," the Home Depot spokesperson said. Lowe's and Menards did not respond to requests for comment. Rick Hermanns, CEO of staffing agency HireQuest, which places 70,000 workers from the C-suite all the way down to day workers, says the upstream effects from crackdowns on day laborers are complicated and enormous, and neither political party has solved the problem. Lax enforcement, Hermanns said, incentivizes people to directly or indirectly hire unauthorized workers, creating a two-tiered system where some workers are paid under the table while companies like HireQuest and others pay the requisite workers' compensation and social security. Hermanns says those mandated expenses make up at least 20% of the wages paid, so under-the-table day laborers create a competitive disadvantage. However, Hermanns said a crackdown like the one happening now also creates complications because it reduces an already thin labor pool, which forces wages higher and then spreads throughout the economy in the form of inflation. "The ripple effects are much deeper and broader than what anyone understands," Hermanns said. "Candidly to me, our entire political establishment is unserious about looking at all of the effects," he added. Higher wages can be good because they draw people into the labor pool who might otherwise sit at home. "But moving the foundational wage 20 percent higher is incredibly bad for inflation," Hermanns said. For businesses, Hermanns says the whiplash between the administrative approaches breeds uncertainty. "I'd rather have more lax or more strict; the uncertainty is worse. What needs to be done is for people from both camps to come together and realize what we have is unsustainable," he said. Atlanta-based immigration attorney Loren Locke says that the current sweeps of home improvement store parking lots are doing nothing to solve the country's complicated immigration situation. Locke noted that while day laborers who gather at home improvement store parking lots skew heavily toward immigrants and disproportionately lack U.S. work authorization, there is no reason to think the population is a good source of dangerous criminal immigrants. "Rather, they seem more like easy pickings for ICE to hit daily arrest quotas," Locke said. She points to the complex web of immigration programs that have evolved over the years, creating an unsustainable system. "We are in such a mess right now because there are millions of workers in the U.S. who are in this gray immigration status," Locke said. "They were allowed in, and now we are going back to treating them like they are all criminals who need to be deported immediately." Locke pointed out that there are children who were bestowed DACA status and are now grandparents. "This has not been fixed for their entire adult life," Locke said. Meanwhile, contractors and subcontractors throughout the construction food chain are finding a small labor pool heading into the summer season.
UPI
08-06-2025
- Climate
- UPI
6.5-magnitue earthquake recorded in Colombia
June 8 (UPI) -- A 6.5-magnitude earthquake was recorded in Colombia on Sunday about 56 miles east of Bogota, according to the Servicio Geológico Colombiano. The SGC's database for tracking such incidents recorded the earthquake around 8:08 a.m. local time near the city of Paratebueno and described it as having a shallow depth. The agency said that it had received some 5,000 reports of people who felt the earthquake. Data shows that at least two aftershocks have had magnitudes greater than 4. Carlos Carrillo, the director of Colombia's national disaster risk agency, said during a news conference Sunday that damage was recorded to a national highway in the area. "In the inspection area of Santa Cecilia and the village of La Europa, as well as in Medina, the main church has been affected, including collapsed walls," he said. "So far, two people have been reported injured in that municipality. Damage has occurred to walls and facades of churches and homes, and there may also be damage to bridges." He later clarified that four people total have so far been reported injured, two in Paratebueno and two in Medina. They are all said to have minor injuries. Carrillo said authorities were seeking to verify the impacts of the earthquake on a health center in the town of Fómeque and on a Catholic church in the town of Une in the Andes. Damage to homes were also reported in the towns of Tocaima and Caldas. The U.S. Geological Survey also recorded the earthquake, describing it as a 6.3-magnitude tremor.
Ammon
31-05-2025
- Science
- Ammon
Nearly 3,000-year-old Mayan complex discovered, featuring pyramids and canals
Ammon News - Archaeologists have discovered the remains of a nearly 3,000-year-old Mayan complex in Guatemala, revealing sanctuaries, pyramids and a unique canal system that could shed further light on the ancient civilization, the country's culture minister said Thursday. The complex was discovered across three sites — Los Abuelos, Petnal and Cambrayal — near the significant Mayan site of Uaxactún in the Petén region of northern Guatemala, the ministry said in a statement. The Mayan civilization arose around 2,000 BC and reached its height between 400 and 900 AD, predominantly in modern-day Mexico and Guatemala. During its height, people built temples, roads, pyramids and other monuments, and developed complex systems of writing, mathematics and astronomy. Los Abuelos, which means 'The Grandparents' in Spanish, lies around 13 miles (21 kilometers) from Uaxactún and gets its name from two human-like rock figures found at the site, believed to represent an 'ancestral couple,' the ministry said. These figures, along with several sacred sanctuaries, suggest it was an important site for Mayan rituals, said Luis Rodrigo Carrillo, Guatemala's vice minister of culture and sports, in a press briefing announcing the findings. A reconstruction of the altar illustrates the painted panels of red, black and yellow which would have depicted a person wearing a feathered headdress and flanked by shields or regalia. Related article Mysterious altar found in ancient Mayan city contains bodies – and wasn't made by the Maya 'Located here is one of the most important ritual centers in the region, with notable sanctuaries, helping to reassess our understanding of Mayan history,' the ministry said in a video announcing the discovery. East of Los Abuelos lies Petnal, which features a 33-meter-high (108-foot) pyramid. At its peak are two preserved rooms adorned with murals depicting various symbolic representations, Carrillo said. In Cambrayal, around three miles (4.8 kilometers) from Los Abuelos, scientists also identified 'unique' water canals inside a palace, marking a notable discovery, the ministry said. 'These sites form a previously unknown urban triangle whose existence we were unaware of until now… These new archeological discoveries constitute a testament of Mayan culture's greatness, which today we are making known to the whole world,' the ministry said. CNN
Yahoo
30-05-2025
- General
- Yahoo
Texas Takedown Weekly: Border's Biggest Busts
One bust involved a man accused of smuggling five illegal aliens; another netted a bus passenger wanted for rape. Here are this week's three biggest criminal apprehensions at the Texas border: 1. Yukon or Tahoe? Border Patrol Busts Alleged Smuggler With 5 Aliens A Border Patrol chief announced the arrest and prosecution of an alleged human smuggler last week — but the details seemed to shift depending on where you looked. Chief Patrol Agent Gloria I. Chavez of the Rio Grande Valley sector posted on X on May 21 that agents had intercepted a white Tahoe allegedly used in an alien smuggling operation near Weslaco. 'Great Teamwork!' she wrote, alongside a photo showing one detained driver and five apparent illegal aliens. A separate post by the same Border Patrol sector — this time on Facebook — described the vehicle as a white Yukon. The types of vehicles described are very similar. However, the photo depicts a GMC, and only GMC makes the Yukon. Both posts claimed the driver was prosecuted under 8 U.S. Code § 1324, a statute commonly used in human smuggling cases. The names of those involved have not been released, and neither post included a specific date of arrest or location beyond the general sector. According to federal law, § 1324 violations can carry up to 10 years per count, with heightened penalties if the smuggling was done for profit or in a manner that endangered human life. The incident appears to be one of several recent smuggling cases in the Rio Grande Valley, a region that federal officials routinely cite as a major corridor for illegal entry and trafficking. 2. Minnesota Rape Suspect Nabbed at Border A man wanted for rape in Minnesota was arrested over Memorial Day weekend while attempting to enter the United States through a Texas port of entry, according to a U.S. Customs and Border Protection press release. CBP officials say 50-year-old Nestor Martinez Carrillo was traveling by bus when he arrived at the Juarez-Lincoln Bridge near Laredo on May 24. Officers reportedly flagged Carrillo for secondary inspection, then used biometric tools and law enforcement databases to confirm his identity. Officials say Carrillo had an outstanding felony arrest warrant issued by the Stearns County Sheriff's Office in Minnesota. The warrant, originally filed in August 2020, stemmed from a third-degree criminal sexual conduct case involving a failure to appear in court. He was transported to the Webb County Jail and booked the same day, The Dallas Express reported. Jail records show Carrillo now faces a charge of 'sexual assault.' Like all criminal charges, the allegations remain unproven until tried in court. CBP officials cited the National Crime Information Center — a federal database for active warrants — as the tool that allowed officers to confirm Carrillo's fugitive status. The arrest was one of several over Memorial Day weekend. According to CBP, another individual wanted in Dallas County for allegedly soliciting minors online was apprehended on May 26, while yet another man accused of rape in Illinois was caught on May 21. A twice-deported sex offender, convicted of assaulting a 14-year-old, was reportedly picked up that same day. 'These types of apprehension perfectly exemplify CBP's ongoing commitment to keeping our communities secure,' said Port Director Tater Ortiz in the agency's press release. 3. Jesus Cedillo Turned A $6K Job Into A 10-Year Sentence for Moving Cocaine A man who admitted to transporting nearly 30 kilograms of cocaine through a Texas Border Patrol checkpoint was sentenced to more than 10 years in federal prison, the U.S. Attorney's Office for the Southern District of Texas announced May 28. Federal prosecutors say Jesus Cedillo, 36, was stopped on October 28, 2024, near the Falfurrias checkpoint. A Border Patrol K-9 reportedly alerted to Cedillo's vehicle, prompting agents to search the car. Inside the speaker boxes in the trunk, they allegedly discovered multiple bundles of cocaine totaling 28.6 kilograms. Cedillo pleaded guilty to possession with intent to distribute and was sentenced to 126 months in federal prison, followed by five years of supervised release. He admitted that a former co-worker had recruited him to make the delivery to Houston for $6,000. Assistant U.S. Attorney Zachary Bird prosecuted the case, which was investigated by the Border Patrol and the Drug Enforcement Administration. Although the source and destination of the drugs remain undisclosed, the bust adds to a growing pattern of drug couriers using everyday vehicles to ferry large narcotics loads through inland checkpoints, sometimes for relatively small compensation. To read about last week's biggest border busts, click here: Texas Takedown Weekly: Border's Biggest Busts (May 23)
