Arcosa to acquire Stavola for $1.2B; Q2 revenue record $664.7M, Adj EBITDA up 31%

Arcosa, Inc.

Acquisition of aggregates-led construction materials business in NY-NJ MSA for $1.2B cash; Stavola LTM revenue $283M, Adj EBITDA $100M.
Q2 2024 revenue $664.7M (+14% YoY), net income $45.6M, diluted EPS $0.93; Adj EBITDA $112.7M (+31%), margin 17.0%.
Raised low end of FY2024 Adj EBITDA guidance to $420M from $410M; range $420M-$440M.
Divested steel components business for $137M; proceeds to pay down debt; also sold other non-core assets.
Financing via bridge loan up to $1.2B; expected close Q4 2024; tax benefits NPV ~$125M.

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