US-based construction materials firm
The Birmingham, Alabama-based company had net income of 91 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 95 cents per share.
The results matched Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 95 cents per share.
Vulcan Materials posted revenue of $1.04 billion in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $1 billion.
The firm, the largest US producer of construction aggregates, has also reaffirmed its adjusted EBITDA outlook of $775 million to $825 million for fiscal year 2015, assuming “normal weather patterns” in the fourth quarter.
The company expects these results to be driven by strong growth in aggregates gross profit per tonne, earnings improvement in its non-aggregates businesses and continuing leverage of SAG expenses.
Vulcan Materials says it expects the trends evident thus far in 2015 to extend into 2016, as the gradual recovery in demand continues across most of its markets.
