Florida Rock Buffeted By Residential Real Estate Slowdown
Building supply and concrete provider Florida Rock saw earnings drop 24 percent and income decrease 40 percent for their 3rd quarter. The company’s sales to commercial and infrastructure (think roads and bridges) rose in the quarter but the slowdown of Florida residential development hurt the company.
It will be interesting to see the impact on the building slowdown on the associated companies. That will be the big indicator on the depth of it’s impact on the rest of the economy.
Florida Rock’s consolidated total sales decreased 24 percent to $275.6 million for the third quarter ending June 30, 2006. Aggregate volume decreased nearly 21 percent to 9.6 million tons — from a nearly 26 percent decrease in ready-mixed concrete production to a 53 percent decrease in its concrete block material.
“The decline in residential construction is the driver of these lower results, especially in Florida, which has historically relied heavily on homebuilding,” said John Baker, president and CEO of Florida Rock. via Jacksonville Business Journal:.
My wife has actually decided to study for and get her real eatate licence just so we dont ever have ...
I like your analogy in this article. The real estate economy really is like a patient who you cannot ...
Real Estate is hyper-local. Every market is different. Phoenix has already hit bottom and is starting to recover. We have ...
Great to hear that the big boys
are predicting recovery sooner than
most think.
Thanks for the value! 
I agree--good analogy. You have to crawl before you can walk. Right now, at least in Austin, many people would ...
I live in the Philippines and I am glad we are not on the lists... 
I have a few Litograghs of Presidents homes , made by Richard V. Sebring. yr. 1990 Do they have any ...
I see the question I have, but no response. I do not have a for sale sign up ...
Comment by Sam Chapman on 1 August 2007:
Rock must not be selling to asian and Indian markets. There are aggregate suppliers in central Texas running 24×7 to keep up with overseas and local demand.