Arcosa Inc

Latest Results (16.05.2026):

Arcosa, Inc.'s first quarter 2026 results showed profit and margin improvement with Adjusted EBITDA growth outpacing revenue growth. Consolidated net income, adjusted net income and EPS all rose year-over-year, while continuing operations delivered stronger cash flow and management raised full‑year 2026 guidance for continuing operations after completing the divestiture of the barge business.

Consolidated snapshot

Revenues (consolidated) were $663.3M, up 5% y/y; net income was $37.8M (up 60%); Adjusted Net Income $39.6M (up 65%); diluted EPS $0.77 and Adjusted diluted EPS $0.81. Consolidated Adjusted EBITDA was $121.3M (up 10%).

Continuing operations

Revenues from continuing operations were $571.7M (up 4%); Adjusted EBITDA from continuing operations $102.9M (up 10%) with an improved Adjusted EBITDA margin of 18.0% (+100 bps). Income from continuing operations was $23.3M (up 101%).

Engineered Structures outperformance

Engineered Structures revenue rose 4% to $295.4M; Adjusted Segment EBITDA increased 21% to $62.4M and margin expanded 300 bps to a record 21.1%, led by robust utility structures demand. Utility & related structures backlog was a record $557.6M (up 28% since year‑start); wind towers backlog was $600.0M.

Construction Products results

Construction Products revenues were $276.3M (up 5%) driven by aggregates (+5%) and shoring (+26%). Aggregates volumes +4% and freight‑adjusted ASPs +2%; Aggregates adjusted cash gross profit margin expanded 220 bps. Adjusted Segment EBITDA fell 2% to $55.7M and segment margin declined 150 bps, with asphalt impacted by cold weather.

Guidance raised (continuing operations)

Full‑year 2026 guidance for continuing operations was raised: revenues $2.6B–$2.7B and Adjusted EBITDA $545M–$585M (prior ranges lower). The update excludes the barge business.

Portfolio and capital actions

Arcosa completed the sale of its barge business (described as a $450M divestiture in the release). The company estimated after‑tax net proceeds of ~$370M, and used $83M of proceeds in April to prepay part of the term loan. During Q1 the company also completed a $60M aggregates acquisition and repurchased $17.5M of shares.

Cash flow, capex and liquidity

Operating cash flow from continuing operations was $58.1M; Free Cash Flow from continuing operations was $21.2M after $43.5M of capex. Cash and cash equivalents were $153.2M and total liquidity was $853.2M (including a $700M undrawn revolver).

Leverage and other financial metrics

Net Debt to Adjusted EBITDA (TTM) was 2.3x, and pro forma for the barge sale was 1.9x. Interest expense decreased to $24.0M, and the GAAP effective tax rate for the quarter was 5.3% (versus 19.4% a year ago), aided by a one‑time state tax benefit and timing of stock vesting.