Forterra Announces First Quarter 2020 Results
Forterra, Inc. (FRTA)
Last forterra, inc. earnings: 4/29 06:28 pm
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US:NASDAQ Investor Relations:
investors.forterrabp.com
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Source: GlobeNewswire
IRVING, Texas, April 29, 2020 (GLOBE NEWSWIRE) -- Forterra, Inc. (“Forterra” or “the Company”) (NASDAQ: FRTA), a leading manufacturer of water and drainage infrastructure pipe and products in the United States and Eastern Canada, today announced results for the quarter ended March 31, 2020. First Quarter 2020 Highlights Increased net sales by 13.4% to $330.9 million as compared to $291.9 million in the prior year quarterIncreased gross profit by 40.5% to $58.7 million as compared to $41.8 million in the prior year quarterGross profit margin improved by 340 basis points year-over-yearNet loss decreased to $14.1 million compared to $25.0 million in the prior year quarter Adjusted EBITDA¹ increased to $35.5 million as compared to $19.9 million in the prior year quarterAdjusted EBITDA margin¹ improved by 390 basis points year-over-yearImproved operating cash flow by $24.8 million and free cash flow¹ by $43.2 million year-over-year ¹ A reconciliation of non-GAAP financial measures, in
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