Vulcan’s Costs Rise Sharply in 2Q, but Strong Demand and Price Hikes Will Keep Growth Outlook Intact
Vulcan Materials reported a mixed second quarter, leading shares to fall 3%, as we write. On one hand, the company continued to see solid year-over-year organic growth in addition to contributions from Aggregates USA. Adjusted EBITDA rose 13% to $325 million, as aggregate shipments rose 11% on a same-store basis. Aggregates prices rose 3% over the prior year quarter after adjusting for mix shift. Strong demand continues to support volume growth, which in turn allows the company to increase price...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.
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