Hurricanes Drag on Vulcan Materials’ 3Q, but Strong Underlying Demand Will Return as Skies Clear
Given Vulcan Materials’ operational footprint heavily weighted to Texas and the southeastern United States, we weren’t surprised that hurricanes Harvey and Irma weighed on third-quarter results. Unable to operate under normal conditions, the company couldn't realize as much volume and pricing growth as it would have otherwise. Given the extreme weather, we were impressed that the company’s aggregates shipments grew 1% and pricing rose 3% year over year. Vulcan estimates that had it not been for ...Vulcan Materials is a supplier of construction aggregates and a producer of asphalt mix and ready-mixed concrete. The company has four segments: Aggregates, which produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services; Asphalt, which produces and sells asphalt mix in Alabama, Arizona, California, New Mexico, Tennessee and Texas, and includes asphalt construction paving in Alabama, Tennessee and Texas; Concrete, which produces and sells ready-mixed concrete; and Calcium, which consists of a Florida facility that mines, produces and sells calcium products.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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