2017 Q1 Form 10-Q Financial Statement

#000156459017000553 Filed on January 24, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q4 2015 Q4
Revenue $278.7M $302.4M $277.4M
YoY Change 10.52% 9.01% -4.84%
Cost Of Revenue $217.2M $215.0M $208.5M
YoY Change 11.5% 3.12% -1.84%
Gross Profit $61.50M $87.38M $68.87M
YoY Change 7.22% 26.89% -12.99%
Gross Profit Margin 22.07% 28.9% 24.82%
Selling, General & Admin $6.100M $9.200M $8.300M
YoY Change -41.9% 10.84% -11.7%
% of Gross Profit 9.92% 10.53% 12.05%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $23.90M $22.65M $25.21M
YoY Change 4.37% -10.18% 28.05%
% of Gross Profit 38.86% 25.92% 36.61%
Operating Expenses $6.300M $9.000M $7.400M
YoY Change -40.0% 21.62% -18.68%
Operating Profit $55.20M $98.62M $80.51M
YoY Change 17.8% 22.5% -12.55%
Interest Expense $4.500M $6.198M $6.700M
YoY Change -18.18% -7.49% -21.18%
% of Operating Profit 8.15% 6.28% 8.32%
Other Income/Expense, Net $429.0K
YoY Change
Pretax Income $54.18M $83.69M $68.21M
YoY Change 3.55% 22.7% -12.41%
Income Tax $17.90M $27.30M $22.40M
% Of Pretax Income 33.04% 32.62% 32.84%
Net Earnings $36.25M $56.39M $45.85M
YoY Change -7.44% 22.99% -11.88%
Net Earnings / Revenue 13.01% 18.65% 16.53%
Basic Earnings Per Share $1.18
Diluted Earnings Per Share $0.75 $1.17 $0.92
COMMON SHARES
Basic Shares Outstanding 48.41M 47.88M
Diluted Shares Outstanding 48.30M

Balance Sheet

Concept 2017 Q1 2016 Q4 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.600M $164.7M $15.80M
YoY Change 22.22% 942.41% 15.33%
Cash & Equivalents $6.561M $164.7M $15.80M
Short-Term Investments
Other Short-Term Assets $4.900M $6.000M $8.000M
YoY Change -5.77% -25.0% 60.0%
Inventory $252.8M $222.8M $232.4M
Prepaid Expenses
Receivables $136.3M $115.3M $103.9M
Other Receivables $0.00 $0.00 $5.300M
Total Short-Term Assets $400.6M $508.7M $365.4M
YoY Change 5.43% 39.22% 0.77%
LONG-TERM ASSETS
Property, Plant & Equipment $1.547B $1.228B $1.266B
YoY Change 23.22% -3.04% 5.1%
Goodwill $198.4M $133.9M $133.9M
YoY Change 48.16% 0.0% 1.03%
Intangibles
YoY Change
Long-Term Investments $48.60M $47.60M $50.40M
YoY Change -1.82% -5.56% 6.78%
Other Assets $14.72M $27.10M $28.90M
YoY Change -51.5% -6.23% -15.99%
Total Long-Term Assets $1.847B $1.465B $1.523B
YoY Change 22.8% -3.8% 1.85%
TOTAL ASSETS
Total Short-Term Assets $400.6M $508.7M $365.4M
Total Long-Term Assets $1.847B $1.465B $1.523B
Total Assets $2.247B $1.974B $1.889B
YoY Change 19.3% 4.52% 1.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $92.19M $63.80M $61.30M
YoY Change 38.4% 4.08% -10.51%
Accrued Expenses $55.38M $57.60M $46.80M
YoY Change 20.45% 23.08% 3.31%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $81.21M $81.20M $8.000M
YoY Change 915.18% 915.0% -85.96%
Total Short-Term Liabilities $229.5M $207.9M $116.1M
YoY Change 90.33% 79.07% -32.62%
LONG-TERM LIABILITIES
Long-Term Debt $605.3M $380.1M $492.7M
YoY Change 21.12% -22.85% 6.95%
Other Long-Term Liabilities $42.88M $57.50M $70.70M
YoY Change -29.85% -18.67% -16.73%
Total Long-Term Liabilities $648.1M $437.6M $563.4M
YoY Change 15.57% -22.33% 3.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $229.5M $207.9M $116.1M
Total Long-Term Liabilities $648.1M $437.6M $563.4M
Total Liabilities $1.044B $810.4M $839.3M
YoY Change 23.79% -3.44% -5.16%
SHAREHOLDERS EQUITY
Retained Earnings $1.061B
YoY Change 20.27%
Common Stock $149.5M
YoY Change -11.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.203B $1.164B $1.049B
YoY Change
Total Liabilities & Shareholders Equity $2.247B $1.974B $1.889B
YoY Change 19.3% 4.52% 1.64%

Cashflow Statement

Concept 2017 Q1 2016 Q4 2015 Q4
OPERATING ACTIVITIES
Net Income $36.25M $56.39M $45.85M
YoY Change -7.44% 22.99% -11.88%
Depreciation, Depletion And Amortization $23.90M $22.65M $25.21M
YoY Change 4.37% -10.18% 28.05%
Cash From Operating Activities $42.70M $128.7M $108.7M
YoY Change -13.74% 18.4% 66.21%
INVESTING ACTIVITIES
Capital Expenditures -$22.90M $15.81M $19.67M
YoY Change 62.41% -19.6% -21.08%
Acquisitions
YoY Change
Other Investing Activities -$400.5M $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$423.4M -$15.80M -$19.70M
YoY Change 2924.29% -19.8% -92.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 222.6M -2.800M -79.60M
YoY Change -586.03% -96.48% -139.96%
NET CHANGE
Cash From Operating Activities 42.70M 128.7M 108.7M
Cash From Investing Activities -423.4M -15.80M -19.70M
Cash From Financing Activities 222.6M -2.800M -79.60M
Net Change In Cash -158.1M 110.1M 9.400M
YoY Change 1434.95% 1071.28% 276.0%
FREE CASH FLOW
Cash From Operating Activities $42.70M $128.7M $108.7M
Capital Expenditures -$22.90M $15.81M $19.67M
Free Cash Flow $65.60M $112.9M $89.03M
YoY Change 3.14% 26.79% 119.94%

Facts In Submission

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DefinedBenefitPlanNetPeriodicBenefitCost
2083000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.33
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.32
CY2016Q4 us-gaap Long Term Debt
LongTermDebt
467714000
CY2016Q1 us-gaap Long Term Debt
LongTermDebt
507714000
CY2016Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
6366000
CY2014Q4 exp Interest Coverage Ratio Minimum
InterestCoverageRatioMinimum
2.50
CY2014Q4 us-gaap Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
0.0010
CY2016Q4 us-gaap Line Of Credit
LineOfCredit
0
CY2016Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
490700000
CY2016Q4 exp Letter Of Credit Maximum Capacity
LetterOfCreditMaximumCapacity
50000000
CY2016Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
9300000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
5
exp Cement Plant Locations
CementPlantLocations
6
exp Slag Grinding Facility
SlagGrindingFacility
1
exp Cement Distribution Terminals
CementDistributionTerminals
16
exp Gypsum Wallboard Plants
GypsumWallboardPlants
5
exp Readymix Plant
ReadymixPlant
17
exp Aggregates Processing Plant
AggregatesProcessingPlant
4
exp Number Of Frac Sand Processing Facilities
NumberOfFracSandProcessingFacilities
2
exp Number Of Frac Sand Drying Facilities
NumberOfFracSandDryingFacilities
3
exp Number Of Frac Sand Transload Locations
NumberOfFracSandTransloadLocations
6
exp Segment Reporting Information Proportionate Consolidation Of Joint Ventures Revenues And Operating Earnings
SegmentReportingInformationProportionateConsolidationOfJointVenturesRevenuesAndOperatingEarnings
0.50
CY2016Q4 exp Sales Revenue Goods Net Including Joint Venture
SalesRevenueGoodsNetIncludingJointVenture
328304000
CY2015Q4 exp Sales Revenue Goods Net Including Joint Venture
SalesRevenueGoodsNetIncludingJointVenture
303417000
CY2016Q4 exp Sales Revenue From Joint Venture
SalesRevenueFromJointVenture
25909000
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
99053000
CY2016Q4 exp Earnings Before Interest And Taxes
EarningsBeforeInterestAndTaxes
89887000
CY2016Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
15812000
CY2016Q4 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
22645000
CY2016Q4 us-gaap Goodwill
Goodwill
133885000
CY2016Q4 us-gaap Investment Income Interest
InvestmentIncomeInterest
19000
CY2016Q4 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
5982000
CY2015Q4 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
3833000
CY2016Q4 us-gaap Interest Expense Other Long Term Debt
InterestExpenseOtherLongTermDebt
235000
CY2016Q4 us-gaap Guaranty Liabilities
GuarantyLiabilities
0
CY2016Q4 exp Contingent Liability For Performance Bonds Required By States Municipalities And Related Agencies
ContingentLiabilityForPerformanceBondsRequiredByStatesMunicipalitiesAndRelatedAgencies
18200000
CY2016Q4 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
312000
CY2015Q4 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
318000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
958000
us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-40000000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
12045000

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