Vulcan falls on downbeat Q2 results, FY Ebitda forecast cut

Vulcan Materials Co

06/08/2024 17:28

** Shares of construction supplies maker Vulcan Materials
 VMC.N  fall ~4% to $247
    ** Co lowers full-year adjusted EBITDA forecast as high
interest rates put a strain on housing growth and kept demand
for company's construction aggregates muted.
    ** FY24 Adj EBITDA to be in a range of $2 billion to $2.15
billion, down from prior forecast $2.15 billion to $2.30 billion
    ** VMC Q2 revenue $2.01 billion, missing estimates $2.03
billion – LSEG data
    ** VMC Q2 EPS $2.31 per share, missing estimates $2.48 per
share 
    ** Stock had risen 8.74% YTD

 (Reporting by Anshuman  Tripathy)
 ((Anshuman.Tripathy@thomsonreuters.com;))