US: Texas Industries reports 2nd quarter results

2007-01-09 00:00:00

< DIV > DALlas, Jan. 4, 2006-Texas Industries (TXI), the largest cement producer in Texas and a major cement producer in California, reported on Jan. 4 its results for the quarter ended Nov. 30, 2006. Net income for the quarter was $28.7 million. The company reaped cash from the cancellation of a long-standing U.S. anti-dumping order against Mexican cement, bringing its after-tax income to $12.9 million in the quarter. In the same period last year, the company's net income was only 6.2 million yuan.

"The construction market in Texas, our primary market, remained solid during the quarter," said Mel Brekhus, CEO of < DIV >. In the California market, construction of housing declined significantly, while construction of highways and other public buildings increased significantly. In this quarter, the company's operating profit margin continued to improve, and the company's operating conditions will be further improved in the next quarter. The company has said it will raise cement prices in Texas and California by $12 a ton on January 1 and March 1, 2007, respectively.

< DIV > For the quarter, the company's net sales were up 11% from the same period last year. Cement prices rose 12% in the quarter, stone, sand and gravel prices rose 17%, ready-mixed concrete prices rose 9%, and shipments of cement and ready-mixed concrete remained relatively stable due to inadequate rail capacity in the northern Texas market and the expiration of low-rate raw material supply contracts. Shipments of stone, sand and gravel fell by 6%.

< DIV > On the other hand, overall energy costs were down year over year, selling, administrative, and general expenses were up $15.3 million year over year, and interest expense was down $3.2 million.

Brekhus also said: "The company's cement plant upgrade and expansion project in California has been scheduled and budgeted.". The project and two expansion projects in Texas will increase TXI's annual production capacity from 5 million tons to 7.5 million tons in the next 4-5 years.
(Please indicate the source for reprinting by China Cement Net)

All can be viewed after purchase

Correlation

[Original] US: Slow Recovery of Cement Industry, Long-term Cement Consumption Will Rise

In the long term, the Portland Cement Association (PCA) has predicted that cement consumption in the United States will increase by 9.7% in 2014 and 2015, reaching 86 million tons in 2014. Cement consumption in the United States is expected to rise by 11% in 2016. PCA also expects cement consumption in the United States to reach 119 million tons by 2018.

2014-08-15 09:40:45

US cement consumption fell 14% in the first 10 months of 2008

2009-01-14 00:00:00

Chinese Experts Respond to Accusations of US Cement Shortage

2007-09-21 00:00:00

Titan Cement USA Acquires S & W Ready-Mixed Concrete

2007-03-27 00:00:00

America: Cement Industry's New Environmental Award Winners Announced

2007-03-23 00:00:00

Nine US States Sued Cement Plant for Excessive Mercury Discharge

2007-02-26 00:00:00

US: Texas Industries reports 2nd quarter results

2007-01-09 00:00:00

US Cement Manufacturing Project Spending Expected to Reach $2 Billion in 2007

2006-11-21 00:00:00

US: Eagle Materials Lowers 2007 Revenue Forecast

2006-09-28 00:00:00

US: Eagle Materials acquires a stake in Houston Cement

2006-09-04 00:00:00

US Federal Government's Latest Energy Efficiency Ratings

2006-08-16 00:00:00

US: Cement Consumption Continues to Grow -- PCA Summer Forecast Revises 2006 Growth Target

2006-08-11 00:00:00

US: Texas Industries Releases Fourth Quarter Profit Report

2006-07-14 00:00:00

American Concrete Limited successfully acquired two companies.

2006-07-07 00:00:00

United States: Texas Industries Sells Houston Area Plant

2006-06-01 00:00:00

12000 t/d cement production line to be built in USA

2006-05-17 00:00:00

American high-tech cement has better seismic performance

2006-04-29 00:00:00

Application of American Advanced Heat Treatment Technology in Domestic Production of Wear Resistant Materials

2006-04-20 00:00:00

A New Type of Cement with High Strength and High Toughness Developed in America

2006-01-18 00:00:00

US Cement Shortage Will Continue

2005-12-20 00:00:00

Taiwanese Businessmen Turn to US Cement Market

2005-12-16 00:00:00

Cement consumption in the United States will increase

2005-12-02 00:00:00

Rinker Group to Build Cement Grinding Plant in Florida

2005-11-07 00:00:00

US Cement Imports Hit by Hurricane

2005-09-28 00:00:00

American Scientists Invented "Smart Cement"

2005-09-27 00:00:00

US Building Material Prices Rise in Response to "Wind"

2005-09-22 00:00:00

According to PCA analysis, cement consumption in the United States will reach 123.4 million tons in 2005.

2005-08-25 00:00:00

American Shenlong Cement won the ASCE National Important Historical Civil Engineering Contribution Award

2005-07-18 00:00:00

US Cement Shortage Heats Up Again

2005-07-13 00:00:00

Cement Industry in the United States in 2004

Due to the recovery and expansion of the economy, the industrial infrastructure of the United States has been strengthened, which has led to an increase in domestic product shipments in the United States, but also stimulated product consumption. The Portland Cement Association of America believes that by 2008, the volume of cement in the United States will exceed 117 million tons.

2004-12-20 00:00:00

The shortage of cement further affects the US construction industry.

2004-05-28 00:00:00

US cement shortage drags down construction industry

2004-05-24 00:00:00

US Cement Imports Continue to Decline

2002-08-01 00:00:00

CEMPI

102.57

+0.01 +0.01%

CONCPI

91.08