Tue, Nov. 3, 8:29 AM
- Earnings from continuing operations of $126M, or $0.95 per share vs. $67.8M, or $0.51 per share in the same quarter a year ago.
- Adjusted EBITDA of $281M vs. $215M in the same period of 2014.
- Revenue by segment: Aggregates +10%; Asphalt, Concrete and Calcium +13.2%.
- The company reaffirms its expectation for full year adjusted EBITDA of $775M-$825M, assuming normal weather patterns in the fourth quarter.
- VMC +0.7% premarket
- Q3 results
Tue, Nov. 3, 8:01 AM
Mon, Nov. 2, 5:30 PM
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Fri, Oct. 9, 4:06 PM
Mon, Aug. 17, 10:14 AM| Mon, Aug. 17, 10:14 AM | Comment!
Mon, Aug. 3, 11:34 PM
Fri, Jul. 10, 1:23 PM
Fri, May 8, 2:03 PM
Tue, May 5, 12:58 PM
- Vulcan Materials (VMC -3%) is sharply lower after reporting a slightly wider than expected Q1 loss as demand for its construction materials remains "well below normal levels."
- VMC says demand was low during Q1, but "the gradual recovery in construction activity continues across most of our market," and that "as a result of improving market conditions and our continued focus on internal profit improvements, both pricing and margins continue to expand."
- VMC says adverse weather conditions in Georgia hurt Q1 results, though many states in the West and South saw shipment growth; VMC benefited by $14M vs. the prior-year period from lower diesel fuel costs, which offset production challenges related to winter weather.
- Q1 aggregates freight-adjusted revenue rose 17% Y/Y to $380M as shipments increased by 13%, while freight-adjusted average sales prices gained 4%.
Tue, May 5, 12:45 AM
Mon, Mar. 16, 9:39 AM
Mon, Mar. 2, 7:14 AM
- Despite being crushed by the housing bust in 2008-09, business at Vulcan Materials (NYSE:VMC) is rebounding, writes Barron's Robin Goldwyn Blumenthal.
- Vulcan lost money from 2010 to 2012, when it launched an initiative to cut $100M in annual costs, but already exceeded its cost-cutting goal by $16M a year.
- New management took charge in 2014, led by Thomas Hill, who tells Barron's that Vulcan has "multiple years of double-digit top-line growth" ahead, and sees accelerating momentum in pricing.
- According to CFO John McPherson, demand is "still more than 30% below 40-year trends." As it normalizes, Vulcan will far exceed the prior cycle’s peak-demand price of $3.37 of gross profit per ton.
- Vulcan shares have climbed over 22% in the past 52 weeks.
Thu, Feb. 26, 12:58 PM
- Vulcan Materials (VMC +1.2%) is upgraded to Outperform from Sector Perform with a $93 price target, up from $82, at RBC Capital after the firm attended the company's investor day.
- The firm cites VMC's improving demand which is leading to robust volume growth, and an increased emphasis on returning cash to shareholders; it notes that VMC is the largest producer of aggregates in the U.S. with the no. 1 or no. 2 share in 85% of its markets.
- RBC says VMC's $11B market value makes the stock most suitable for mid-cap and large-cap investors who are comfortable owning a highly cyclical company in the early stages of a multi-year recovery.
Tue, Feb. 17, 12:40 PM
Fri, Feb. 6, 11:44 AM
- Vulcan Materials (VMC +2%) is upgraded to Buy from Hold at BB&T, which cites significant increases to its 2015 estimates and management's optimism about all of its major end markets following a strong Q4 earnings report with volumes and profitability exceeding expectations.
- As the construction cycle ramps, the firm says VMC should be able to generate impressive earnings growth and free cash flow, since 2014 aggregates shipments were only at ~60% of prior peak levels.
- BB&T believes the next several years set up VMC for significant earnings flow-through as thiemarket recovery gains momentum.
Thu, Feb. 5, 8:02 AM
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