10-Q · May 15, 2026
Suncrete, Inc. reported Q1 2026 earnings reflecting significant operational shifts post-business combination. Revenue was $0 due to recent acquisitions and operational restructuring, with a net loss of $31,000 for the…
Earnings analysis · 10-Q
RMIX earnings analysis
Filed August 14, 2026 · Our reading of the company's report
The latest report
Suncrete reported Q2 revenue of $97.231 million and EPS of negative $0.14, missing consensus revenue of $102.213 million and EPS of negative $0.01. The balance sheet shows cash of $28.6 million but debt increased to…
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Suncrete reported Q2 revenue of $97.231 million and EPS of negative $0.14, missing consensus revenue of $102.213 million and EPS of negative $0.01. The balance sheet shows cash of $28.6 million but debt increased to $220.0 million, with meaningful floating-rate and covenant exposure. The filing’s most material developments are five acquisitions completed in the quarter and ineffective disclosure controls, with remediation expected through fiscal year 2027. No quantitative forward guidance was provided in the extracted filing text.
Reported figures
- Earnings per share
- $-0.14
What stood out
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Cash Balance Increased
Cash increased to $28.6 million at June 30, 2026 from $6.4 million at December 31, 2025, improving near-term liquidity.
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Revolving Facility Increased
The Credit Agreement was amended to provide a $50.0 million Revolving Credit Facility, alongside a $205.0 million Term Loan and $175.0 million Delayed Draw Term Loan Facility.
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Five Acquisitions Completed
The company completed five acquisitions during the three months ended June 30, 2026 and is implementing new processes, systems and controls to integrate them.
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Control Remediation Underway
Management expects remediation of identified internal-control weaknesses to continue through fiscal year 2027 and has hired additional accounting, finance and information-technology personnel.
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Regional Infrastructure Funding
The company’s markets may benefit from approximately $61.0 billion earmarked through 2026 for infrastructure development in Oklahoma, Arkansas, Texas, Louisiana, Mississippi and Missouri.
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Liquidity Growth Despite Higher Debt
The filing reports total debt of $220.0 million at June 30, 2026 versus $202.1 million at December 31, 2025, while cash increased by $22.2 million over the same period.
What to watch
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Earnings and Revenue Miss
Reported EPS was a loss of $0.14 versus the $0.01 loss consensus estimate, and revenue was $97.231 million versus the $102.213 million estimate, representing misses of $0.13 per share and $4.982 million, respectively.
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Material Weaknesses Persist
Management concluded that disclosure controls and procedures were not effective as of June 30, 2026 because of material weaknesses in the design and operation of key accounting and financial-reporting controls. Remediation is expected to continue through fiscal year 2027.
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Leverage and Floating-Rate Exposure
Total outstanding debt rose to $220.0 million from $202.1 million, and a 100-basis-point change in market rates would change six-month interest expense by approximately $1.0 million.
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Restrictive Debt Covenants
The Credit Agreement requires a consolidated fixed-charge coverage ratio of 1.25 to 1.00 and a senior net leverage ratio of 4.00 to 1.00 through June 30, 2027, tightening to 3.50 to 1.00 after September 30, 2027.
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Acquisition Integration Risk
The filing identifies acquisition integration as a material risk after five acquisitions in the quarter, including potential difficulty integrating finance, information technology, risk management and fleet-management functions.
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Concentrated Voting Control
The SunTx Group beneficially owned approximately 98.8% of outstanding Class B common stock and approximately 82.1% of combined voting power as of August 10, 2026, concentrating control over corporate decisions.
Management's outlook
No quantitative revenue or EPS guidance was provided in the extracted 10-Q text; outlook was not quantified.
Earlier filings 1
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.