Vulcan Materials reports Q2 adjusted EPS $2.29 vs. $1.53 last year

Reports Q2 revenue $2.11B vs. $1.95B last year. Tom Hill, Vulcan Materials’ Chairman and CEO, said, “Our earnings growth through the first half of 2023 reflects the compounding benefits of the consistent execution of our strategic disciplines and the strength of our aggregates-led business. Aggregates gross profit margin has expanded 230 basis points, and cash gross profit per ton has improved 23 percent to $8.98 per ton. Strong sales and operating momentum across our business is expected to carry through the rest of the year. Shipments have benefited from large industrial projects, and residential construction activity has been better than expected. As a result, we now expect to deliver full-year Adjusted EBITDA of $1.9 to $2.0 billion, an increase of $150 million compared to our initial expectations communicated in February.”