U.S. Concrete Cuts Q2 below analysts’ estimates
Shares of U.S. Concrete Inc. (Nasdaq: RMIX) slid in pre-market trading after the ready-mixed concrete producer said late Thursday night it’s cutting its second quarter earnings guidance due to unusually wet weather in its Texas market earlier this spring.
For the three months ended June 30, U.S. Concrete says it now sees earnings of between $0.17 and $0.19 per share, which is slightly lower than the company’s previous guidance. Five analysts surveyed by Thomson Financial expect earnings per share of $0.20 per share.
U.S. Concrete will release its second quarter results on August 9. Shares of U.S. Concrete slid 4.01%, or $0.33, to $7.90 in pre-market trading.
