Vulcan Materials (VMC) Q2 Earnings and Revenues Lag Estimates

Company Performance - Vulcan Materials (VMC) reported quarterly earnings of $2.35 per share, missing the Zacks Consensus Estimate of $2.47 per share, but showing an increase from $2.29 per share a year ago, resulting in an earnings surprise of -4.86% [1] - The company posted revenues of $2.01 billion for the quarter ended June 2024, which was below the Zacks Consensus Estimate by 0.97% and a decrease from $2.11 billion year-over-year [2] - Over the last four quarters, Vulcan has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [2] Stock Performance - Vulcan shares have increased approximately 13.4% since the beginning of the year, outperforming the S&P 500's gain of 8.7% [3] - The current consensus EPS estimate for the upcoming quarter is $2.86 on revenues of $2.2 billion, and for the current fiscal year, it is $8.33 on revenues of $7.71 billion [7] Industry Outlook - The Building Products - Concrete and Aggregates industry, to which Vulcan belongs, is currently ranked in the bottom 20% of over 250 Zacks industries, indicating potential challenges ahead [8] - The performance of Vulcan's stock may be influenced by the overall outlook for the industry, as research shows that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8] Earnings Estimate Revisions - The trend for earnings estimate revisions for Vulcan is mixed, leading to a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market in the near future [6] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which investors can track [5]