Arcosa, Inc. announced its results for the fourth quarter and full year ended December 31, 2024. For Q4 2024, revenues increased 14% year-over-year to $666.2 million, or 22% excluding the divested business. Adjusted EBITDA surged 52% to $128.3 million, with Adjusted EBITDA Margin expanding by 480 basis points to 19.3%.
Full year 2024 revenues reached $2,569.9 million, an 11% increase, or 15% excluding the divested business. Full year Adjusted EBITDA grew 22% to $447.0 million, with margin expanding 150 basis points to 17.4%. Net income for Q4 was a loss of $7.7 million, and for the full year was $93.7 million, impacted by increased depreciation, depletion, and amortization from recent acquisitions and a higher tax rate.
The company generated robust cash flow, with Q4 operating cash flow at $248.2 million and free cash flow at $199.2 million. For the full year, operating cash flow was $502.0 million and free cash flow was $330.6 million. Arcosa made solid progress on deleveraging, ending the year with Net Debt to Adjusted EBITDA at 2.9x, down from 3.4x at the end of Q3.
Arcosa provided full year 2025 guidance, anticipating Adjusted EBITDA between $545 million and $595 million, representing a 30% increase at the midpoint, excluding the divested business. The company expects approximately 40% of its 2025 growth to stem from a double-digit organic increase, driven by strategic actions completed in 2024, including the Stavola and Ameron acquisitions and the steel components divestiture.
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