Vulcan(VMC) ZACKS·2025-02-18 17:56Core Insights - Vulcan Materials Company (VMC) reported strong fourth-quarter 2024 results, with adjusted earnings and revenues exceeding expectations and showing year-over-year growth [1][4]. Financial Performance - Adjusted earnings per share (EPS) for Q4 were $2.17, surpassing the Zacks Consensus Estimate of $1.76 by 23.3%, and up from $1.46 in the same quarter last year [4]. - Total revenues reached $1.85 billion, exceeding the consensus estimate of $1.83 billion by 1.4% and growing 1.1% year over year [4]. - For the full year 2024, total revenues were $7.42 billion, down from $7.78 billion in 2023, while gross profit increased 2.6% year over year to $2 billion [11]. Segment Performance - Aggregates segment revenues increased to $1.47 billion from $1.41 billion year over year, despite a 3% decline in shipments to 53.9 million tons [5]. - Asphalt segment revenues were $327.1 million, up 9.8% year over year, with a gross profit increase of 27% [7]. - Concrete segment revenues decreased to $163.5 million from $256 million year over year, with gross profit dropping to $4.6 million [8]. Operational Highlights - Gross profit for the aggregates segment was $486.5 million, up from $424.5 million, with a gross margin expansion of 300 basis points [6]. - Selling, administrative, and general (SAG) expenses as a percentage of total revenues decreased by 30 basis points to 7.5% [10]. - Adjusted EBITDA margin improved by 370 basis points year over year to 29.7% [10]. Future Outlook - For 2025, VMC anticipates double-digit year-over-year growth in cash gross profit per ton, with shipment growth expected between 3% and 5% [13]. - The total cash gross profit for the Asphalt and Concrete segments is projected to be around $360 million, compared to $272 million in 2024 [14]. - Adjusted EBITDA for 2025 is projected to be between $2.35 billion and $2.55 billion, including a $150 million contribution from acquisitions [14].