Vulcan Materials Company Announces Second Quarter 2024 Financial Results

Details

The company reported a slight decrease in total revenues to $2,014 million compared to $2,113 million in the second quarter of 2023. However, gross profit increased to $592 million from $583 million, driven by strong performance in the Aggregates segment. The company's Adjusted EBITDA was $603 million, reflecting a 120 basis point expansion in gross profit margin. Despite weather disruptions, Vulcan maintained a strong liquidity position and continued to focus on margin expansion and long-term growth. The company expects full-year shipments to decrease by 4 to 7 percent, with a freight-adjusted price improvement of 10 to 12 percent. Management also provided an outlook for total Asphalt and Concrete segment cash gross profit of approximately $275 million and Adjusted EBITDA between $2.00 and $2.15 billion.

Items reported

Exhibits (1)

About Vulcan Materials Company

Vulcan Materials Company is a leading producer of construction aggregates, which are essential components for constructing infrastructure such as roads, bridges, and buildings. The company primarily focuses on the production and supply of crushed stone, sand, and gravel. Established in 1909 and headquartered in Birmingham, Alabama, Vulcan Materials operates extensive production facilities and distribution networks throughout the United States. The company’s products are critical to the construction and maintenance of public sectors and play a significant role in the development of private and commercial properties. Vulcan Materials also engages in supporting sectors such as asphalt and concrete production. Its position as a major supplier in the construction materials industry underscores its significance in supporting growth and development efforts, particularly in expanding urban and rural infrastructure projects. By providing quality materials that form the backbone of transportation and construction frameworks, Vulcan Materials plays a vital role in shaping sustainable and efficient communities.