Arcosa Inc

Latest Results (04.04.2026):

Arcosa, Inc. reported results for the fourth quarter of 2025 (and full year 2025). In Q4 2025 the company delivered revenue of $716.7 million (up 8% year-over-year), GAAP net income of $52.1 million (versus a loss in Q4 2024), adjusted EBITDA of $145.0 million (up 13%) and adjusted diluted EPS of $1.15. For the full year 2025 Arcosa reported record revenues of $2.883 billion, adjusted EBITDA of $583.3 million (up 30%) and adjusted diluted EPS of $4.47, reflecting margin expansion and portfolio transformation progress.

Q4 headline financials

Revenues $716.7M (+8%); net income $52.1M (vs. $(7.7)M); adjusted EBITDA $145.0M (+13%) with an adjusted EBITDA margin of 20.2% (up 90 bps); adjusted diluted EPS $1.15 (vs. $0.46).

Full-year 2025 — record performance

Full-year revenues $2,883.4M (+12%); adjusted EBITDA $583.3M (+30%) and adjusted EBITDA margin 20.2% (up 280 bps). Net income was $208.4M and adjusted diluted EPS was $4.47 for 2025.

Segment performance (Q4 2025)

Construction Products: revenues $305.4M (‑2%) but adjusted segment EBITDA $83.5M (+3%) with margin 27.3%. Engineered Structures: revenues $301.1M (+15%), adjusted segment EBITDA $55.8M (+22%) and margin 18.5% (backlog strong at $434.9M utility, $627.8M wind towers). Transportation (inland barges): revenues $110.2M (+19%), adjusted segment EBITDA $21.7M (+24%).

Cash flow, capex and liquidity

Q4 operating cash flow $120.0M (down 52% YoY); Q4 free cash flow $58.6M (down 71%) after capex of $64.2M. FY capex $165.6M. Ended Q4 with total liquidity $914.6M (cash $214.6M + full $700M revolver available).

Balance sheet and leverage

Net debt $1,323.8M and Net Debt to adjusted EBITDA 2.3x (improving from prior quarter). Company paid $60M of term loan principal in Q4 and reported lower interest expense ($24.9M in Q4) versus prior year.

2026 guidance and outlook

Full-year 2026 guidance (ex-divestiture impact): consolidated revenues $2.95B–$3.10B and consolidated adjusted EBITDA $590M–$640M. Management expects growth and margin uplift in utility structures and construction materials; anticipates lower wind tower volumes/profitability in 2026 with recovery in 2027.

Barge business divestiture & strategic direction

On February 24, 2026 Arcosa announced an agreement to sell its barge business (Arcosa Marine Products) for $450M in cash (subject to adjustments), expected to close in Q2 2026 pending approvals. Management frames the sale as part of shifting focus to core growth businesses (construction materials and engineered structures).

Other notable items

Q4 adjusted effective tax rate (post one‑time items) was 11.6% (much lower than prior-year adjusted 43.5%). Interest expense declined YoY, and acquisition/divestiture-related costs were minimal in Q4 compared with the prior-year period.