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  "documentTitle": "U.S. Concrete Inc (USCR)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "presentationDate": "2018-05-17 00:00:00",
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  "notes": "Includes a specific callout on Price / Adj Book Value and Estimated Organic Growth.",
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      "text": "We do not believe investors and analysts are looking carefully at its aggressive use of capital leases which inflate EBITDA.",
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      "text": "Total Enterprise Value: $1,769.6",
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      "text": "USCR is a commodity producer of ready-mix concrete with a junk credit of BB- / B1 Stable from S&P and Moodys. Its low valuation partially reflects this fact, but is based on management's highly adjusted Non-GAAP figures.",
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