Welcome to our dedicated page for Vulcan Materials Company(Holding Company) news (Ticker: VMC), a resource for investors and traders seeking the latest updates and insights on Vulcan Materials Company(Holding Company) stock.
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) will host its third quarter earnings conference call on November 4, 2021, at 9:00 a.m. CT (10:00 a.m. ET). Financial results for the quarter ending September 30, 2021 will be released prior to market opening. Investors can listen via webcast at www.vulcanmaterials.com or by calling 866-831-8713. The company, based in Birmingham, Alabama, is the largest supplier of construction aggregates in the U.S., producing materials like crushed stone, sand, and asphalt.
The Board of Directors of Vulcan Materials Company (NYSE: VMC) has announced a quarterly cash dividend of 37 cents per share on its common stock. This payment is set for December 2, 2021, to shareholders on record as of November 16, 2021. As the largest producer of construction aggregates in the U.S., Vulcan continues to demonstrate financial stability and commitment to returning value to its shareholders. Further information about the company can be found on their official website.
Vulcan Materials Company (NYSE: VMC) has successfully concluded its acquisition of U.S. Concrete, marking a significant milestone in its growth strategy. The integration enhances Vulcan's scale in the aggregates sector and expands its geographic reach into key metropolitan areas. U.S. Concrete's stock has ceased trading on NASDAQ, as it is now fully owned by Vulcan. Chairman and CEO Tom Hill emphasized the cultural alignment and operational synergies expected from this acquisition, which aims to foster innovation and operational excellence.
Vulcan Materials Company (NYSE: VMC) reported its second-quarter results for 2021, highlighting net earnings of $195 million or $1.46 per diluted share. Adjusted EBITDA reached $406 million, with aggregates gross profit increasing by 6% to $374 million. The company's proposed acquisition of U.S. Concrete is expected to close in the latter half of 2021. Despite facing challenges like energy inflation, which impacted earnings by $25 million, Vulcan remains optimistic about achieving its full-year 2021 Adjusted EBITDA guidance of $1.380 to $1.460 billion.
Vulcan Materials Company (NYSE: VMC) will host its second quarter earnings conference call on August 4, 2021, at 10:00 a.m. CT. Financial results for the quarter ending June 30, 2021, will be released prior to market opening. Interested parties can join the webcast at www.vulcanmaterials.com or participate via phone by calling 833-962-1439 or 832-900-4623 for international calls. Replay of the webcast will be available post-call.
The Board of Directors of Vulcan Materials Company (NYSE: VMC) has declared a quarterly cash dividend of thirty-seven cents per share on its common stock. This dividend will be payable on September 3, 2021, to shareholders of record as of August 18, 2021. Vulcan Materials, headquartered in Birmingham, Alabama, is the largest producer of construction aggregates in the U.S., primarily focusing on crushed stone, sand, and gravel, along with asphalt mix and ready-mixed concrete.
Vulcan Materials (NYSE: VMC) has announced a merger agreement to acquire U.S. Concrete (NASDAQ: USCR) for $74 per share, totaling $1.294 billion. This acquisition aims to strengthen Vulcan's presence in key markets like California and Texas while enhancing its ready-mixed concrete operations. The deal is expected to close in H2 2021, pending shareholder and regulatory approvals. U.S. Concrete's operational excellence and strategic location will complement Vulcan's existing footprint, potentially adding approximately $190 million to EBITDA before synergies and positively affecting EPS in the first year post-closure.
The Board of Directors of Vulcan Materials Company (NYSE: VMC) declared a quarterly cash dividend of 37 cents per share on its common stock. This dividend is set to be payable on June 11, 2021, to shareholders of record by the close of business on May 28, 2021. Located in Birmingham, Alabama, Vulcan Materials is the largest producer of construction aggregates in the U.S., specializing in crushed stone, sand, gravel, asphalt mix, and ready-mixed concrete.
Vulcan Materials Company (NYSE: VMC) reported first-quarter results for 2021, revealing net earnings of $161 million or $1.20 per diluted share. A reclaimed quarry sale yielded $182 million, with a pretax gain of $115 million. Adjusted EBITDA rose to $244 million, a 22% increase year-over-year. Aggregates unit profitability improved by 12% to $4.82 per ton, and the full-year Adjusted EBITDA guidance was raised to $1.380 to $1.460 billion. Strong residential construction and positive pricing trends are expected to further drive growth this year.
Vulcan Materials Company (NYSE: VMC) has rescheduled its first quarter earnings call to May 4, 2021, at 9:00 a.m. Central Time. The change aims to allow analysts to attend both Vulcan's and another construction materials company's calls. Investors can access the live webcast at www.vulcanmaterials.com, or join via phone by calling 833-962-1439 (domestic) or 832-900-4623 (international). A conference ID of 6357979 is needed to join. A replay will be available post-call on the company’s website.
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