Vulcan Materials Company (NYSE:VMC) Q2 2024 Earnings Conference Call August 6, 2024 11:00 AM ET Company Participants Mark Warren - VP of IR Thomas Hill - Chairman and CEO Mary Andrews Carlisle - SVP and CFO Conference Call Participants Stanley Elliott - Stifel Garik Shmois - Loop Capital Anthony Pettinari - Citi Jerry Revich - Goldman Sachs Kathryn Thompson - the Thompson Research Group Angel Castillo - Morgan Stanley Michael Dahl - RBC Capital Markets Trey Grooms - Stephens Adam Thalhimer - Thompson Davis ...

Vulcan Materials Company (VMC) reported dismal second-quarter 2024 results, with earnings and revenues missing their respective Zacks Consensus Estimate. On a year-over-year basis, earnings increased, but revenues declined due to lower Aggregate shipments. VMC's shares fell 4.6% in the pre-market trading session on Aug 6, after the earnings release. Investors' sentiments are likely to have been hurt by the slashed 2024 net earnings outlook. Inside the Headlines Adjusted earnings of $2.35 per share missed th ...

For the quarter ended June 2024, Vulcan Materials (VMC) reported revenue of $2.01 billion, down 4.7% over the same period last year. EPS came in at $2.35, compared to $2.29 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $2.03 billion, representing a surprise of -0.97%. The company delivered an EPS surprise of -4.86%, with the consensus EPS estimate being $2.47. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and h ...

Vulcan Materials (VMC) came out with quarterly earnings of $2.35 per share, missing the Zacks Consensus Estimate of $2.47 per share. This compares to earnings of $2.29 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -4.86%. A quarter ago, it was expected that this construction materials company would post earnings of $0.76 per share when it actually produced earnings of $0.80, delivering a surprise of 5.26%. Over the last fou ...

Exhibit 99.1 August 6, 2024 FOR IMMEDIATE RELEASE Investor Contact: Mark Warren (205) 298-3220 Media Contact: Jack Bonnikson (205) 298-3220 VULCAN REPORTS SECOND QUARTER 2024 RESULTS Second Quarter Earnings Growth and Margin Expansion Underpinned by Execution in Aggregates Uniquely Positioned Aggregates Business Supports Full Year Earnings Growth Birmingham, Alabama – August 6, 2024 – Vulcan Materials Company (NYSE: VMC), the nation's largest producer of construction aggregates, today announced results for ...

The upcoming report from Vulcan Materials (VMC) is expected to reveal quarterly earnings of $2.49 per share, indicating an increase of 8.7% compared to the year-ago period. Analysts forecast revenues of $2.04 billion, representing a decrease of 3.6% year over year. The consensus EPS estimate for the quarter has undergone an upward revision of 0.3% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this ...

This construction materials company is expected to post quarterly earnings of $2.49 per share in its upcoming report, which represents a year-over-year change of +8.7%. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power ...

Vulcan Materials Company, a member of the S&P 500 Index with headquarters in Birmingham, Alabama, is the nation's largest producer of construction aggregates – primarily crushed stone, sand and gravel – and a major producer of aggregates-based construction materials, including asphalt mix and ready-mixed concrete. For additional information about Vulcan, go to www.vulcanmaterials.com. SOURCE Vulcan Materials Company BIRMINGHAM, Ala., July 12, 2024 /PRNewswire/ -- The Board of Directors of Vulcan Materials C ...

Financial Data and Key Metrics Changes - The company generated $323 million of adjusted EBITDA in Q1 2024, with an expanded adjusted EBITDA margin, indicating strong financial performance despite adverse weather conditions [8][9] - The trailing 12-month Aggregates cash gross profit per ton improved to $9.66, with a target of $11 to $12 per ton [9][10] - The net debt to adjusted EBITDA leverage was 1.5x at the end of Q1, with $300 million in cash on hand [22] Business Line Data and Key Metrics Changes - In the Aggregates segment, year-over-year shipments declined by 7%, but cash gross profit per ton improved by 10% [9][10] - The Asphalt segment saw an increase in cash unit profitability of nearly $6 per ton, while Concrete improved by nearly $5 per cubic yard [19] - The company invested $103 million in capital expenditures during the quarter and returned $81 million to shareholders through dividends and share repurchases [21] Market Data and Key Metrics Changes - The pricing environment for Aggregates remains positive, with a 10% increase in adjusted price per ton compared to the previous quarter [10] - Public infrastructure activity is growing faster in Vulcan states than the national average, supported by federal highway spending and IIJA funding [17][59] - The company anticipates mid-single-digit growth in public demand, driven by increased state funding in key markets [59][71] Company Strategy and Development Direction - The company is focused on a two-pronged growth strategy: expanding reach and enhancing core profitability through disciplined capital allocation [12][13] - M&A activities will be aggregates-focused, with a busy year expected for acquisitions [54] - The company aims to maintain a strong emphasis on safety and operational excellence through its Vulcan Way of Selling and Operating disciplines [25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the volume outlook for the rest of the year, despite challenges in non-residential and multifamily construction [30][64] - The company expects to deliver adjusted EBITDA between $2.15 billion and $2.3 billion for the full year, indicating a double-digit year-over-year improvement [24] - Management noted that the fundamentals for pricing remain healthy, with ongoing discussions about mid-year price increases [32][69] Other Important Information - The company closed a bolt-on Aggregates and Asphalt acquisition in Alabama, enhancing its market position [12] - The company has seen a 260 basis points improvement in return on invested capital over the last 12 months [23] Q&A Session Summary Question: How does the rest of the year play out from a demand standpoint? - Management indicated that volumes in Q1 were as expected, with confidence in the volume outlook for the rest of the year, despite challenges in non-residential and multifamily construction [30] Question: What is the outlook on mid-year pricing? - Management stated that pricing fundamentals remain strong, with discussions ongoing about mid-year price increases, which are not yet included in guidance [32] Question: How have costs been trending among major cost categories? - Management is comfortable with cost guidance of mid-single digits for the full year, with cost increases decelerating over the past year [35] Question: What are the priorities for Vulcan's product mix moving forward? - Management emphasized that the focus remains on Aggregates, with strategic downstream operations considered as part of a portfolio approach [41] Question: How is the government infrastructure funding flowing through? - Management noted that IIJA funding is contributing to steady growth in public demand, with significant state funding increases in key markets [59][71]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR FORM 10-Q o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-33841 VULCAN MATERIALS COMPANY (Exact name of registrant as specified in its charter) New Jersey (Mark One) (State or other jurisdiction of ...