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SEC Filings

10-Q
FORTERRA, INC. filed this Form 10-Q on 11/09/2017
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Segments

 For the nine months ended September 30, 2017:
 
Drainage Pipe & Products
 
Water Pipe & Products
 
Corporate and Other
 
Total
 
(In thousands)
Net sales
$
630,200

 
$
588,999

 
$
45

 
$
1,219,244

Gross profit (loss)
112,323

 
86,327

 
(1,980
)
 
196,670

Income (loss) from continuing operations before income taxes
63,656

 
(21,195
)
 
(113,127
)
 
(70,666
)
EBITDA
98,832

 
30,881

 
(66,714
)
 
62,999


 For the nine months ended September 30, 2016:
 
Drainage Pipe & Products
 
Water Pipe & Products
 
Corporate and Other
 
Total
 
(In thousands)
Net sales
$
552,035

 
$
455,286

 
$
2,530

 
$
1,009,851

Gross profit (loss)
131,325

 
90,611

 
(1,841
)
 
220,095

Income (loss) from continuing operations before income taxes
90,205

 
43,821

 
(128,560
)
 
5,466

EBITDA
126,536

 
80,251

 
(62,518
)
 
144,269

    


Drainage Pipe & Products

Net Sales
    
Net sales increased by $78.2 million, or 14.2%, to $630.2 million in the nine months ended September 30, 2017 from $552.0 million in the nine months ended September 30, 2016. The increase was primarily attributable to the net sales contributed by acquisitions totaling $76.2 million. Existing business net sales also increased by $2.0 million due to higher volume.

Gross Profit

Gross profit was $112.3 million in the nine months ended September 30, 2017, a decrease of $19.0 million or 14.5% from $131.3 million in the nine months ended September 30, 2016. The decrease was primarily due to the higher cost of goods sold including labor, freight, and raw materials, partially offset by the increased net sales.


Water Pipe & Products

Net Sales

For the nine months ended September 30, 2017, net sales were $589.0 million, an increase of $133.7 million or 29.4% from $455.3 million for the nine months ended September 30, 2016. The increase was primarily attributable to an additional $155.7 million in net sales from U.S. Pipe due to a full nine months of activity in 2017 compared to a partial period in 2016, partially offset by a decrease in existing business net sales of $22.0 million due to the effect of inclement weather.


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