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Mar 31, 2024
Arcosa Q1 2024 Earnings Report
Arcosa's first quarter results for 2024 were announced, revealing revenue growth and increased full-year guidance.
Key Takeaways
Arcosa reported a 9% increase in first-quarter revenues, driven by contributions from all three segments. The company's operating cash flow increased by 195%, and they raised their full-year Adjusted EBITDA guidance due to the Ameron acquisition and strong Q1 results.
First quarter revenues increased by 9%, with contributions from all three segments.
Adjusted EBITDA grew by 7%, normalizing for the $22 million land sale gain in 2023.
Operating cash flow increased by 195% to $81 million.
Full year 2024 Adjusted EBITDA guidance range increased to $410 million to $440 million.
Arcosa
Arcosa
Arcosa Revenue by Segment
Revenue by Segment
Engineered Structures Revenue
CapyFin.comTransportation Products Revenue
CapyFin.com Forward Guidance
The Company raised its 2024 full year guidance to incorporate the acquisition of Ameron Pole Products LLC (“Ameron”), a leading manufacturer of highly engineered, premium concrete and steel poles for a broad range of infrastructure applications, which closed on April 9, 2024. The increased guidance also reflects better than expected first quarter results.
Positive Outlook
- Increased full year 2024 consolidated revenues to a range of $2.58 billion to $2.78 billion, from the prior guidance range of $2.46 billion to $2.72 billion.
- Increased full year 2024 consolidated Adjusted EBITDA guidance to a range of $410 million to $440 million, from the prior guidance range of $380 million to $420 million.
- The recent Ameron acquisition is an excellent strategic fit for Arcosa, expanding our product offerings in traffic and telecom structures and establishing our foothold in the attractive concrete and steel lighting pole market.
- Normalizing for 2023's land sale gain, we anticipate Adjusted EBITDA growth of 23% and margin improvement of 90 basis points at the mid-point of our guidance range.
- We generated strong operating cash flow of $81 million in the first quarter, up 195% from last year, which helped fund significant investment in organic growth projects.
Revenue & Expenses
Visualization of income flow from segment revenue to net income