Forterra Announces Its First Quarter 2017 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, May 15, 2017 (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, 2017. First Quarter 2017 Results First quarter 2017 net sales increased to $338.3 million, compared to $187.0 million in the prior year quarter. This sales growth is attributable to the impact of acquisitions that increased net sales by $163.0 million. Drainage Pipe & Products (“Drainage”) net sales improved to $160.4 million, compared to $144.3 million in the prior year quarter, due to $20.1 million of net sales from acquisitions. The decline in net sales excluding acquisitions was due to a more typical winter in Q1 2017 and the impact of heavy rain and flooding in California compared to unseasonably warm weather in the northern regions in Q1 2016. Water Pipe & Products (“Water”) net sales more than tr
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