Suncrete Posts $141.0 Million in Third-Quarter Revenue, Cuts 2026 Outlook
Key Facts
Suncrete reported results on Nov. 13, 2026, for the third quarter ended Sept. 30, posting revenue of $141.0 million and net income of just $78,000. Revenue rose 163% from the third quarter of 2025, when it was $53.5 million, and increased 45% sequentially from $97.2 million in the second quarter of 2026. But net income was below the $4.6 million the company earned a year earlier, despite returning to profitability from a net loss of $37.1 million in the previous quarter. Adjusted EBITDA rose to $22.4 million. The most notable change in the announcement was a cut to the 2026 outlook, with the company narrowing its expected revenue range from its previous estimate.
Suncrete said adjusted EBITDA increased 66% from $13.5 million in the second quarter and 64% from $13.7 million in the third quarter of 2025. This operating improvement accompanied an expansion in activity, but did not translate into comparable net income, which totaled $78,000 for the quarter. The company attributed some of the improvement in revenue and margins to organic growth of about 10% in the third quarter. The chief executive said the markets where the company operates "supported organic revenue growth of about 10% and margin improvement during the quarter." Revenue growth also reflected factors beyond the organic growth cited by the chief executive: ready-mix concrete volumes produced and delivered expanded 32% from the second quarter and 125% from the same period last year.
The quarter-over-quarter comparison shows broad improvement in results: revenue rose from $97.2 million in the second quarter to $141.0 million in the third, and the company moved from a net loss of $37.1 million to net income of $78,000. Adjusted EBITDA increased from $13.5 million to $22.4 million over the same period. Year over year, revenue climbed from $53.5 million to $141.0 million, while adjusted EBITDA jumped from $13.7 million to $22.4 million. By contrast, net income in the third quarter of 2025 was higher, at $4.6 million. These comparisons put the growth in sales and adjusted earnings in the context of a limited bottom-line result in the current quarter.
Management pointed to factors that could affect the pace of activity as the year draws to a close. The chief executive said some large projects are moving their start dates to 2027 and that "higher interest rates continue to pressure residential construction." At the same time, the company linked organic revenue growth of about 10% and margin improvement to market performance during the third quarter. In its second-quarter results announcement, the company said demand remained strong despite unusually rainy weather across most of its operating areas. It also announced expansion through the acquisitions of Hope Concrete, Nelson Bros. and ABC Block Company, and said it had established a new platform in Texas and Louisiana through the Hope Concrete acquisition. Those developments provide context for the expansion of the company’s activity, as some large projects are now shifting into next year.
Suncrete cut its 2026 revenue outlook to $408.0–434.0 million, compared with the $420–480 million range it maintained in its second-quarter results announcement on Aug. 14. It now expects an annual net loss of between $48.7 million and $44.7 million, versus the previous loss range of $31 million to $7 million. The company set its 2026 adjusted EBITDA range at $60.0–64.0 million. The updated figures reflect a lower estimate for annual revenue and a change in the loss range the company had previously announced. The chief executive attributed near-term pressures to delays in some large projects and higher interest rates affecting residential construction, while the company said it expects organic and acquisition-driven growth in 2027, with a pipeline of large commercial projects and strong infrastructure activity across its operating states.
Suncrete shares closed at $8.12 on Thursday, Nov. 12, down 3.2% during the session, according to Benzinga. That move came in the session before the third-quarter results were announced on Nov. 13. The price and daily decline did not measure the stock’s movement after the results were released on announcement day. The company was scheduled to hold a call to discuss the results on Nov. 13 at 10:00 a.m. Eastern time, or 9:00 a.m. Central time. Management also framed its 2027 outlook around some large projects moving into that year, alongside expected organic and acquisition-driven growth and activity in commercial projects and infrastructure.