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Vulcan Materials Company (NYSE: VMC) is the United States' largest producer of construction aggregates, including crushed stone, sand, and gravel. Founded in 1909 and headquartered in Birmingham, Alabama, Vulcan Materials is a key player in the construction industry, supplying essential materials for varied construction projects across the nation. The company also produces other vital construction materials such as asphalt and ready-mixed concrete. Vulcan operates aggregate facilities in 18 states, the District of Columbia, Mexico, and the Bahamas, and employs over 7,200 dedicated professionals.
In 2023, Vulcan achieved significant milestones, including the sale of 234.3 million tons of aggregates, 13.4 million tons of asphalt mix, and 7.5 million cubic yards of ready-mix concrete. The company holds substantial reserves, with nearly 16 billion tons of aggregates as of December 31, 2022. Vulcan's primary markets include high-growth states like Texas, California, Virginia, Tennessee, Georgia, Florida, North Carolina, and Alabama.
Financially, Vulcan Materials has demonstrated robust performance. In the first half of 2023, the company reported an adjusted EBITDA of $1.9 to $2.0 billion, exceeding initial projections. Key financial highlights include a 23% improvement in cash gross profit per ton to $8.98 and a 230 basis points expansion in aggregates gross profit margin. The company also generated $508 million in operating cash flow, a 56% increase from the previous period.
Recent achievements include the expansion of gross profit margins across all segments, with aggregates, asphalt, concrete, and calcium showing substantial growth. Vulcan's strategic initiatives have led to a 30 basis points improvement in selling, administrative, and general (SAG) expenses, optimizing operational efficiencies. The company continues to invest in growth projects, with capital expenditures reaching $270 million in the first half of 2023, and plans to spend up to $650 million for the year.
Vulcan Materials is committed to sustainable and responsible operations. The company was recently named one of America's Most Responsible Companies 2024 by Newsweek and included in the American Opportunity Index. These accolades highlight Vulcan's dedication to corporate social responsibility, environmental stewardship, and employee development.
Looking ahead, Vulcan Materials remains optimistic about its future prospects. The company expects strong demand for its products driven by industrial projects and steady residential construction activity. With a focus on strategic execution, pricing momentum, and operational efficiency, Vulcan aims to deliver significant earnings growth and value to shareholders in 2024 and beyond.
Vulcan Materials Company (NYSE: VMC) has announced a quarterly cash dividend of $0.46 per share on its common stock.
The dividend is set to be paid on September 4, 2024, to shareholders who are recorded as of the close of business on August 15, 2024.
Vulcan Materials, headquartered in Birmingham, Alabama, is the largest U.S. producer of construction aggregates and a significant producer of aggregates-based construction materials.
Vulcan Materials Company (NYSE: VMC) has declared a quarterly cash dividend of $0.46 cents per share on its common stock. The dividend will be payable on June 7, 2024, to shareholders of record at the close of business on May 24, 2024. Vulcan Materials Company is the nation's largest producer of construction aggregates and a major producer of aggregates-based construction materials.
Vulcan Materials Company reported strong first-quarter 2024 results, with total revenues of $1,546 million, gross profit of $305 million, and net earnings of $103 million. The company reaffirmed its full-year outlook for double-digit earnings growth in 2024. Despite lower aggregates shipments due to weather conditions, the company demonstrated margin expansion and increased cash gross profit per ton by 10%. Vulcan's strategic disciplines and pricing momentum support its confidence in achieving another year of strong cash generation.
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