Arcosa Increases FY24 Consolidated Revenues From $2.46B-$2.72B To $2.58B-$2.78B Vs $2.56B Est.
Portfolio Pulse from Benzinga Newsdesk
Arcosa has raised its FY24 revenue and Adjusted EBITDA guidance following the acquisition of Ameron Pole Products LLC, reflecting better than expected Q1 results and strategic expansion. The updated revenue guidance is now $2.58B-$2.78B, up from $2.46B-$2.72B, with Adjusted EBITDA guidance increased to $410M-$440M from $380M-$420M. This update follows a strong Q1 operating cash flow of $81M, a 195% increase from the previous year, and a series of acquisitions aimed at expanding Arcosa's presence in the Construction Products and Engineered Structures markets.
May 02, 2024 | 8:25 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Arcosa's updated FY24 guidance reflects positive growth from the Ameron acquisition and strong Q1 performance, with revenue and Adjusted EBITDA forecasts exceeding previous estimates.
The upward revision in Arcosa's FY24 guidance, driven by the Ameron acquisition and better than expected Q1 results, signals strong growth prospects and operational efficiency. This strategic expansion and solid Q1 performance are likely to positively influence investor sentiment and Arcosa's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100