EULESS, Texas (AP) _ U.S. Concrete Inc. (USCR) on Monday reported a first-quarter loss of $3.9 million, after reporting a profit in the same period a year earlier.
The Euless, Texas-based company said it had a loss of 23 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and stock option expense, were 18 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The concrete and aggregates producer posted revenue of $327.8 million in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $321.1 million.
U.S. Concrete shares have decreased 30 percent since the beginning of the year. The stock has declined 5.5 percent in the last 12 months.