Vulcan Materials Q2 Earnings Beat on Strong Aggregates Pricing, Shipments
VMC sits 17% above its 52-week low of $252.35.
Summary
Vulcan Materials posted Q2 adjusted EPS of $2.59, beating the $2.46 consensus, on revenue of $2.16B (up 3% YoY) versus the $2.12B estimate. Aggregates drove the beat with freight-adjusted selling prices up 5% and higher shipments, while asphalt and concrete volumes slipped due to weather and input costs. Aggregates cash gross profit per ton improved to $12.02. The company reaffirmed its full-year outlook, citing strong pricing acceptance and expected volume growth from large projects and public construction. This follows the 8-K filed earlier today with preliminary figures and the recent NAFTA arbitration decision that awarded negligible damages. The earnings beat and positive aggregates commentary reinforce the bullish thesis for infrastructure-driven demand.
At the time of this announcement, VMC was trading at $295.00 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $37.4B. The 52-week trading range was $252.35 to $331.09. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.