Arcosa, Inc.

Arcosa, Inc. is a Dallas-based infrastructure products company that supplies materials and engineered structures used in construction, utilities, transportation, and energy-related infrastructure. Its portfolio spans aggregates and asphalt, trench shoring equipment, utility and traffic structures, and wind tower-related products, giving it exposure to both public infrastructure spending and private industrial demand. The company has also used acquisitions and divestitures to reshape the portfolio, including the sale of its steel components business and the announced sale of its inland barge and marine components business. Arcosa’s business is tied to North American infrastructure replacement, grid hardening, renewable power interconnection, and data-center-driven electricity demand.

19,6 %

22,4 %

7,2 %

+12,2 %

2.20

1.35

— Arcosa, Inc.
%
Construction Products45% Aggregates, specialty materials, asphalt, and trench shoring/site support products used in construction and infrastructure projects.
Engineered Structures35% Utility, traffic, lighting, telecom, and wind tower structures sold to infrastructure and energy customers.
Transportation Products15% Transportation-related products including inland barge and marine components serving industrial and logistics markets.
Other / Divested Operations5% Residual revenue from businesses sold or being exited, including the former steel components business.

Arcosa sells primarily to infrastructure and industrial customers rather than end consumers...

  • Utilities and grid infrastructureprimary

    Buy utility structures for transmission and distribution projects, often under multi-year alliance contracts, because Arcosa's products support grid expansion and hardening.

  • Wind energy OEMsprimary

    Buy wind towers and related engineered structures for turbine installations; demand is concentrated among a small number of producers.

  • Transportation and public works contractorsprimary

    Buy traffic and lighting structures, aggregates, and asphalt for roads, bridges, and municipal infrastructure projects.

  • Telecom infrastructure providerssecondary

    Buy telecom structures for wireless network buildouts from carriers, tower lessors, and developers.

  • Construction and industrial customerssecondary

    Buy trench shoring, specialty materials, and construction support equipment to improve jobsite safety and execution.

Arcosa is headquartered in Dallas, Texas and describes itself as serving North American markets...

  • •Headquartered in Dallas, Texas
  • •Primary market is North America, especially the United States
  • •Some operations and regulatory exposure in Canada
  • •Revenue depends on U.S. infrastructure and construction cycles
  • •Weather and seasonal conditions affect regional shipment timing
  • •North American focus reduces currency complexity but increases U.S. cycle exposure

Arcosa’s strategy is centered on disciplined organic growth and acquisitions in fragmented infrastructure markets where...

01
Portfolio optimization through acquisitions and divestituresmedium-term

Arcosa is using M&A to add scale in attractive infrastructure niches while selling businesses that are less strategic.

02
Capture infrastructure and grid investment themesmedium-term

Demand is supported by transportation replacement, grid hardening, renewables interconnection, and data center power needs.

03
Improve operating execution and pricing disciplineshort-term

The business faces seasonal swings, cost inflation, and project timing risk, so pricing and execution are key to margins.

Arcosa’s results are exposed to seasonality, weather disruption, and the timing of construction and infrastructure...

high

Seasonality and adverse weather

Construction-related products are highly dependent on weather and project timing, causing uneven quarterly demand and shipment patterns.

Scope
Construction Products
Materiality
high
high

Customer concentration

A limited number of customers buy certain products, and GE Vernova represented 12.2% of consolidated revenue in 2025.

Scope
Wind towers and engineered structures
Materiality
high
medium

Competitive pricing pressure

Arcosa competes with domestic and foreign manufacturers on price, quality, delivery, and engineering, which can compress margins.

Scope
All segments
Materiality
high
medium

Backlog execution risk

Delayed delivery or customer acceptance can push revenue into later periods and hurt relationships and profitability.

Scope
Engineered Structures and Transportation Products
Materiality
medium
medium

Cybersecurity and information system failure

Operational disruption or data compromise could affect suppliers, customers, and regulators and damage reputation.

Scope
Enterprise-wide
Materiality
medium
medium

Goodwill impairment

Acquisition-driven growth creates goodwill balances that may be written down if expected cash flows or discount rates change.

Scope
Acquired businesses
Materiality
high
Goodwill impairment testing
Could materially affect earnings and equity if a reporting unit underperforms
Acquisition accounting and fair value step-ups
Affects operating profit and comparability after acquisitions
Seasonal revenue recognition and quarterly comparability
Can distort quarter-to-quarter growth and margin trends
Divestiture accounting
Affects reported revenue, operating profit, and comparability

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: 11/08/2026