October 26, 2016 1:23 AM ET

Construction Materials

Company Overview of New Enterprise Stone & Lime Co., Inc.

Company Overview

New Enterprise Stone & Lime Co., Inc. operates as a construction materials supplier and heavy/highway construction contractor primarily in Pennsylvania, western New York, and the eastern United States. The company also provides traffic safety services and equipment. It operates in three segments: Construction Materials, Heavy/Highway Construction, and Traffic Safety Services and Equipment. The Construction Materials segment is involved in the production of aggregates, including crushed stone, and construction sand and gravel; hot mix asphalt; and ready mixed concrete products. This segment also operates transportation facilities for bulk cargo storage, railroad transportation, and other tran...

3912 Brumbaugh Road

PO Box 77

New Enterprise, PA 16664

United States

Founded in 1924

2,415 Employees



Key Executives for New Enterprise Stone & Lime Co., Inc.

Chief Executive Officer, President, Corporate Secretary, Director and Member of Executive Committee
Age: 57
Chief Financial Officer, Executive Vice President and Treasurer
Age: 56
Chief Operating Officer and Executive Vice President
Age: 61
Executive Vice President and Chief Executive Officer of Martin Limestone Inc
Age: 39
Executive Vice President and Chief Executive Officer of Valley Quarries Inc
Age: 72
Compensation as of Fiscal Year 2016.

New Enterprise Stone & Lime Co., Inc. Key Developments

New Enterprise Stone & Lime Co., Inc. Announces Cash Flow Results for the First Quarter of Fiscal 2017; Provides Earnings Guidance for the Full Year of Fiscal 2017

New Enterprise Stone & Lime Co., Inc. announced cash flow results for the first quarter of fiscal 2017. For the quarter, cash used in operations was $30 million, an improvement of approximately $1 million compared to a year ago. The company provided earnings guidance for the full year of fiscal 2017. For fiscal year 2017, the company expects operating profit to increase approximately 15% over the prior year, as it now appears likely that delayed job starts will reduce revenues for the year. For the year, the company expects capital expenditures to be approximately the same as last year, although cash used for capital expenditures will be up this year.

New Enterprise Stone & Lime Co., Inc., Q1 2017 Earnings Call, Jul 29, 2016

New Enterprise Stone & Lime Co., Inc., Q1 2017 Earnings Call, Jul 29, 2016

New Enterprise Stone & Lime Co., Inc. Announces Closing of $450 Million Term Loan Facility and Amendment of $105 Million Revolving Credit Facility

New Enterprise Stone & Lime Co., Inc. announced that it has entered into a new $450 million secured term loan facility (“New Term Loan”) with a group of private lenders. The New Term Loan will be used to repay in full its existing 13% Secured Notes and $70 million term loan. In connection with the incurrence of the New Term Loan and the repayment of related existing debt, the Company has entered into an amendment and restatement (“ABL Amendment”) of the terms of its existing $105 million asset-based revolving credit facility (“ABL Facility”). The New Term Loan has a stated maturity of 5 years, providing stability to the Company’s capital structure. The New Term Loan is priced at LIBOR plus 8.0% (with a 1.0% LIBOR floor). This pricing will result in a significant reduction in annual interest expense. Additionally, the ABL Amendment decreases the interest rate margin on the revolving loans under the ABL Facility by 1.25%. The ABL Amendment also removes certain restrictive financial covenants, including a $20 million availability block, and reduces certain operational and financial reporting requirements. While the total ABL Facility remains at $105 million, the ABL Amendment allows for the issuance of an additional $15 million of letters of credit. Furthermore, both the New Term Loan and the ABL Amendment provide increased flexibility in refinancing the company’s remaining debt.

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Recent Private Companies Transactions

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