Arcosa, Inc. Announces Completion of Ameron Acquisition
- Expands Traffic and Telecommunication Structures Offerings
- Provides Entry into Complementary Concrete and Steel Pole Lighting Market
- Transaction Accelerates Engineered Structures Growth Profile
Founded in 1970, Ameron is a leading manufacturer of highly engineered, premium concrete and steel poles for a broad range of infrastructure applications, including lighting, traffic, electric distribution, and small-cell telecom. With four manufacturing facilities strategically located in
The acquisition was funded with a combination of cash on-hand and
The Company plans to update its full year 2024 revenue and Adjusted EBITDA guidance for the acquisition at the time of the release of its first quarter results.
Non-GAAP Financial Measures
This press release contains financial measures that have not been prepared in accordance with
About
Some statements in this release, which are not historical facts, are “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about Arcosa’s estimates, expectations, beliefs, intentions or strategies for the future.
Reconciliation of Ameron Pro Forma Adjusted EBITDA
(in millions)
(unaudited)
“EBITDA” is defined as net income plus interest, taxes, depreciation, depletion, and amortization. “Pro-Forma Adjusted EBITDA” is defined as Ameron's EBITDA plus pro forma adjustments for non-recurring items. GAAP does not define Pro-Forma Adjusted EBITDA and it should not be considered as an alternative to earnings measures defined by GAAP, including net income. We believe Pro-Forma Adjusted EBITDA assists investors in comparing a company's performance on a consistent basis without regard to depreciation, depletion, amortization, and other items which can vary significantly depending on many factors.
|
Year Ended |
|||||
|
|
|||||
Net income, before intercompany adjustments |
$ |
14.9 |
|
|||
Add: |
|
|||||
Interest expense, net |
|
— |
|
|||
Provision for income taxes(1) |
|
— |
|
|||
Depreciation and amortization expense |
|
4.9 |
|
|||
EBITDA |
|
19.8 |
|
|||
Add: |
|
|||||
Inventory revaluation |
|
(0.4 |
) |
|||
Other non-recurring |
|
0.4 |
|
|||
Pro Forma Adjusted EBITDA |
$ |
19.8 |
|
|||
|
|
(1) Pass through entity and not subject to federal income taxes
View source version on businesswire.com: https://www.businesswire.com/news/home/20240409385618/en/
MEDIA CONTACT: media@arcosa.com
INVESTOR CONTACTS
Chief Financial Officer
Director of Investor Relations
T 972.942.6500
InvestorResources@arcosa.com
ADVISIR
T 212.661.2220
David.Gold@advisiry.com
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