FRTA - FRTA STOCK NEWS

Forterra, a leading manufacturer of water and drainage infrastructure, reported a 16.5% rise in net sales, totaling $1.858 billion for 2021. Gross profit increased by 11.6% to $420.4 million, with net income soaring 80.3% to $116.3 million. Fourth quarter results showed a 23.9% sales growth, reaching $470.7 million. The company reduced its net leverage ratio to 3.1x, achieving its target of below 3.5x. Forterra is advancing its proposed merger with Quikrete, pending regulatory approval. CEO Karl Watson, Jr. highlighted strong operational efficiency despite ongoing supply chain challenges.

Forterra reported a 15.1% increase in net sales to $526.6 million for Q3 2021, up from $457.6 million in 2020. Net income rose to $35.8 million, a significant improvement from $28.8 million in the prior year. However, gross profit declined to $116.6 million from $126.3 million, reflecting cost pressures primarily in the Water segment, where gross margin fell to 15.4%. The company maintained a net leverage ratio of 3.4x and continues to pursue a merger with Quikrete, pending regulatory approvals.

Forterra, Inc. (NASDAQ: FRTA) reported a 15.6% increase in net sales, totaling $492.8 million for Q2 2021, compared to $426.2 million in Q2 2020. Gross profit rose by 13.3% to $119.6 million, while net income surged by 33.2% to $36.1 million. Adjusted EBITDA reached $93.4 million, an 8.7% increase year-over-year. The company achieved a net leverage ratio of 3.4x, below the target of 3.5x. Challenges include rising input costs and supply chain pressures, prompting price increases to maintain margins. Forterra also completed the Barbour Concrete acquisition in July 2021.

Forterra Acquires Barbour Concrete

Forterra, Inc. (FRTA) announced its acquisition of Barbour Concrete Company, expanding its reach in the precast concrete market. Based in Independence, Missouri, Barbour serves the Kansas City metropolitan area. This acquisition aims to enhance Forterra's growth potential in precast products for drainage and infrastructure applications. The strategic move is expected to bolster Forterra's position in the Kansas City and Greater Omaha markets, providing customers with a wider range of products and technical expertise.

Forterra reported Q1 2021 results, showing a 11.2% increase in net sales to $368.1 million, up from $330.9 million last year. Gross profit surged 40.0% to $82.3 million with a margin improvement of over 450 basis points. The company achieved a net income of $18.7 million, recovering from a loss of $14.1 million in Q1 2020. Adjusted EBITDA rose 61.1% to $57.2 million, indicating a healthier financial outlook. The net leverage ratio decreased to 3.6x, reflecting a focus on reducing debt as capital expenditures increased to $12.4 million.

Forterra, a prominent manufacturer of water and drainage infrastructure, reported a positive financial performance for the year ended December 31, 2020. Net sales increased by 4.2% to $1.6 billion, while gross profit surged by 27.1% to $376.7 million, resulting in a gross profit margin improvement of over 400 basis points. The company achieved a net income of $64.5 million, recovering from a loss in 2019, and adjusted EBITDA rose by 36.8% to $279 million. Additionally, Forterra significantly reduced its net leverage ratio to 3.7x and repaid $203.5 million in long-term debt.

Forterra, Inc. (NASDAQ:FRTA) has announced its acquisition by Quikrete Holdings, Inc. for $24.00 per share, totaling approximately $2.74 billion, including outstanding debt. This all-cash transaction was unanimously approved by Forterra's Board and represents a 38.5% premium to its 90-day average share price. The deal is anticipated to close in Q4 2021, pending regulatory approvals. Quikrete aims to enhance its capabilities in water distribution through Forterra's U.S. Pipe business.

Forterra (NASDAQ: FRTA) will release its Q4 2020 financial results on February 24, 2021, after market close. A conference call is scheduled for February 25, 2021, at 9:30 a.m. ET, hosted by CEO Karl Watson, Jr. and CFO Charlie Brown. Investors can access the call via a webcast or through U.S. phone lines. Forterra is a prominent manufacturer of water and drainage products in the U.S. and Eastern Canada, serving a diverse range of customers including contractors and municipalities. For further details, visit the company's website.

Forterra (NASDAQ: FRTA) reported strong financial results for Q3 2020, with gross profit increasing 23.7% to $126.3 million and net income rising 28.6% to $28.8 million. Adjusted EBITDA improved 23.8% to $99.0 million, with significant increases in cash flow, totaling $162.6 million, up 147% year-over-year. The company reduced its net leverage ratio to 4.2x, down from 6.1x at the beginning of the year, reflecting strategic debt repayments. Forterra anticipates full-year 2020 net income between $30 million and $40 million and Adjusted EBITDA from $265 million to $280 million.