Vulcan Materials, a leading producer of construction materials, has reported a strong quarterly profit, beating Wall Street expectations. The company’s success is attributed to the high demand for its products, such as crushed stone, sand, and gravel, which are used in various infrastructure projects.
Strong Demand and Investments
The company’s CEO, Ronnie Pruitt, stated that the pipeline for strategic acquisitions remains active, and they have the financial strength to capitalize on the most valuable opportunities. Vulcan Materials also reiterated its forecast for full-year adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA).
The company’s total revenue rose by 3% to $2.16 billion in the quarter ended June 30, exceeding analysts’ average estimate of $2.12 billion. Quarterly adjusted profit came in at $2.59 per share, higher than $2.45 a year ago.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
