U.S. Concrete (USCR) reported better-than-expected fourth-quarter earnings and faster revenue growth Tuesday morning, lifting the stock ahead of a prime time speech by President Trump, who has pledged “big” infrastructure spending.
U.S. Concrete earned 82 cents a share excluding various items, down 11% vs. a year earlier but 12 cents above Wall Street views. Sales jumped 21% to $318.8 million, beating the consensus for $313.9 million and ending a four-quarter string of decelerating revenue growth.
Shares closed up 3% at 63.00 on the stock market today, briefly retaking their 50-day line when they hit 67.40 intraday. The stock found support at its 200-day line last week.