Vulcan Posts Strong 2016 Performance, but Shares Are Already Pricing in Robust Growth
Although Vulcan delivered weaker volumes in the fourth quarter, aggregates shipments still grew 2% to 181 million tons and prices rose 7% for the full year, compared with 2015. Furthermore, profitability continued to grow, with adjusted EBITDA rising 16% over the prior year to $966 million. With prices outpacing cost inflation, gross margins excluding delivery revenue and costs expanded roughly 300 basis points to 28%.For 2017, the company expects aggregates shipments to grow another 5% to 8%, ...
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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