Arcosa raises 2024 adjusted EBITDA outlook to $435M-$450M from $420M-$440M

Sees 2024 revenue $2.56B-$2.63B vs. prior $2.60B-$2.72B, consensus $2.65B. The company said, “Adjusting for the steel components divestiture, our third quarter results tracked well to our expectations, delivering in-line Adjusted EBITDA and outperforming on margin. Our outlook for the remainder of the year remains very positive. We are pleased to increase our Adjusted EBITDA guidance to reflect the strategic actions we have taken to optimize our portfolio, specifically, the acquisition of Stavola completed at the beginning of October, with some offset from the divestiture of steel components in August.”