EULESS, Texas (AP) _ U.S. Concrete Inc. (USCR) on Thursday reported first-quarter net income of $6.9 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Euless, Texas-based company said it had profit of 42 cents. Earnings, adjusted for one-time gains and costs, were 55 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.
The concrete and aggregates producer posted revenue of $299.1 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $282.2 million.
U.S. Concrete shares have decreased 5.5 percent since the beginning of the year. The stock has fallen 4 percent in the last 12 months.
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