Arcosa Reports 13.7% Revenue Increase in Latest 10-Q

By Tamara Parker • Friday, August 02 15:21 • Permanent Link

Arcosa, Inc. has recently released its 10-Q report, detailing its operations and financial performance. The company, headquartered in Dallas, Texas, provides infrastructure-related products and solutions for the construction, engineered structures, and transportation markets in the United States. It operates through three segments: Construction Products, Engineered Structures, and Transportation Products.

In the Construction Products segment, Arcosa offers natural and recycled aggregates, specialty materials, and construction site support equipment. The Engineered Structures segment provides utility structures, wind towers, traffic structures, and telecommunication structures, while the Transportation Products segment offers inland barges, fiberglass barge covers, winches, marine hardware, and steel components for railcars and transportation equipment.

In the latest 10-Q report, Arcosa reported a 13.7% increase in revenues for the three months ended June 30, 2024, reaching $664.7 million, compared to the same period in 2023. The operating profit for the same period increased by $16.2 million to $67.2 million, driven by growth in all three segments. The effective tax rate for the three months ended June 30, 2024, was 14.3%, compared to 12.0% for the same period in 2023.

Furthermore, Arcosa provided an overview of its market outlook, highlighting healthy market demand in the Construction Products segment, good production visibility in the Engineered Structures segment, and a recovering barge business in the Transportation Products segment. The company also discussed recent developments, including an agreement to acquire the construction materials business of Stavola Holding Corporation and the sale of its steel components business.

Arcosa's unsatisfied performance obligations (backlog) as of June 30, 2024, were $1,338.7 million for utility, wind, and related structures in the Engineered Structures segment, and $251.5 million for inland barges in the Transportation Products segment.

The market has reacted to these announcements by moving the company's shares -11.3% to a price of $80.62. Check out the company's full 10-Q submission here.

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