Arcosa Inc
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Industrials : Construction & Engineering | Small Cap Blend
Company profile

Arcosa, Inc. is focused on manufacturing and producing infrastructure-related products and services. The Company provides its products to a spectrum of markets throughout construction, energy, and transportation. The Company operates through three segments: Construction Products Group, Energy Equipment Group, and Transportation Products Group. The Construction Products Group segment produces and sells construction aggregates and manufactures and sells trench shields and shoring products and services for infrastructure-related projects. The Energy Equipment Group segment manufactures and sells products for energy-related businesses, including structural wind towers, steel utility structures for electricity transmission and distribution, and storage and distribution containers. The Transportation Products Group segment manufactures and sells products for the inland waterway and rail transportation industries including barges, barge-related products, axles, and couplers.

Closing Price
$43.95
Day's Change
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--
Day's High
--
Day's Low
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Volume
(Light)
Volume:
0

10-day average volume:
331,816
0

Paychex profit and revenue fall but beat estimates as pandemic weighs

8:45 am ET July 7, 2020 (MarketWatch)
Print

Paychex Inc. (PAYX) said Tuesday it had net income of $220.7 million, or 61 cents a share, in its fiscal fourth quarter to May 31, down from $230.4 million, or 64 cents a share, in the year-earlier period. Adjusted per-share earnings also came to 61 cents, ahead of the 60 cents FactSet consensus. The human resources services provider said revenue fell 7% to $915.1 million, also ahead of the $911.0 million FactSet consensus. "In this changing work environment, our human capital management solutions and mobility applications have enabled our clients to function and maintain their businesses while working remotely," Chief Executive Martin Mucci said in a statement. The company ended the quarter with $1.0 billion in cash and $801.9 million in debt. "We currently anticipate that cash, restricted cash, and total corporate investments as of May 31, 2020, along with projected operating cash flows and available short-term financing, will support our business operations, capital purchases, share repurchases, and dividend payments for the foreseeable future," said the statement. The company is now expecting fiscal 2021 revenue to fall 2% to 5% and for adjusted EPS to fall 6% to 10%. Shares were slightly higher premarket and have fallen 9% in the year to date, while the S&P 500 has fallen 1.6%.

-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

July 07, 2020 08:45 ET (12:45 GMT)

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