Arcosa reported second-quarter results that fell short of analyst expectations and suspended its practice of providing financial guidance due to its pending merger with CRH. Non-GAAP earnings per share came in at $1.13, missing estimates by $0.05, while revenue of $658.7 million, a 1.7% increase year-over-year, missed by $27.4 million. Operating cash flow from continuing operations was negative $24.7 million, compared to positive $38.0 million in the prior-year period, and free cash flow was negative $51.0 million, down from $16.8 million a year ago. Capital expenditures rose to $58.8 million, reflecting increased investment in core growth platforms. The company ended the quarter with $432.1 million in cash and no borrowings on its $700 million revolving credit facility, and net debt to adjusted EBITDA stood at 1.9 times.
Arcosa IncMissed Q2 estimates and suspended guidance due to pending merger with CRH.
