U.S. Concrete misses Street 3Q forecasts

EULESS, Texas (AP) _ U.S. Concrete Inc. (USCR) on Friday reported third-quarter net income of $24.1 million. The Euless, Texas-based company said it had net income of $1.45 per share. Earnings, adjusted for one-time gains and costs, came to 99 cents per share. The results did not meet Wall...

EULESS, Texas (AP) _ U.S. Concrete Inc. (USCR) on Friday reported third-quarter net income of $24.1 million.

The Euless, Texas-based company said it had net income of $1.45 per share. Earnings, adjusted for one-time gains and costs, came to 99 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.

The concrete and aggregates producer posted revenue of $354.6 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $370.3 million.

U.S. Concrete shares have increased 18 percent since the beginning of the year. The stock has climbed 59 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on USCR at https://www.zacks.com/ap/USCR

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