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US Concrete's Stock Gains After CEO's CNBC Appearance

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US Concrete Inc (NASDAQ: USCR), a producer of ready-mixed concretes, has seen its stock gain around 25 percent since the start of 2016 but has also seen a strong run-up following the U.S. presidential election.

President-elect Donald Trump pledged to spend upwards of $1 trillion in various infrastructure projects across the country - a proposition that some doubt will yield tangible results.

On Monday, CEO Bill Sandbrook was a guest on CNBC to offer his take which investors applauded as the stock gained nearly 4 percent by late Monday morning.

Sandbrook noted that Trump's first campaign promise was infrastructure related and he is very optimistic that the president will increase funding for infrastructure projects, including "roads and bridges - not so much about a wall."

"Any increase in the ability to move our goods and people to work and to market is going to have a positive economic benefit," he added.

Sandbrook also pointed out that as a concrete supplier with 170 concrete plants with 1,600 concrete trucks only 15 percent of the company's total revenue comes from infrastructure projects and 61 percent come from commercial and industrial construction. Accordingly, Trump's policies on taxes and regulatory reform are going to be "more important" than his actual infrastructure platform.

Posted-In: Bill Sandbrook CNBC CNBCCommodities Politics Markets Media General

 

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