Vulcan Materials Company ( (VMC) ) has realeased its Q3 earnings. Here is a breakdown of the information Vulcan Materials Company presented to its investors.
Vulcan Materials Company is the largest producer of construction aggregates in the United States, specializing in crushed stone, sand, gravel, asphalt, and ready-mixed concrete, with its headquarters located in Birmingham, Alabama.
Vulcan Materials Company reported its third-quarter financial results for 2024, highlighting solid execution amidst extreme weather impacts, which led to margin expansion. The company’s strategic acquisition of Wake Stone Corporation aims to bolster its presence in high-growth areas, particularly in the Carolinas.
Key financial metrics for the quarter included total revenues of $2.004 billion, a decrease from $2.186 billion in the prior year, and a gross profit of $565 million. Despite a 10% decline in aggregate shipments due to adverse weather, the company managed to increase its cash gross profit per ton by 10%. Adjusted EBITDA stood at $581 million with a margin of 29%, reflecting improvements in operational efficiency. The asphalt segment saw a 12% increase in cash gross profit, while the concrete segment experienced a decline due to prior divestitures.
Looking ahead, Vulcan Materials remains optimistic, projecting a full-year adjusted EBITDA of approximately $2 billion. The company expects continued growth in 2025, driven by robust demand in public construction and an improving private sector environment. The acquisition of Wake Stone Corporation is anticipated to enhance Vulcan’s long-term earnings and operational capacity.
