Vulcan Materials' quarterly results miss on weather disruptions

Vulcan Materials Co

30/10/2024 12:35

Oct 30 - Vulcan Materials  VMC.N  reported third-quarter
results on Wednesday that missed Wall Street estimates as
weather disruptions impacted construction activity, affecting
demand for the company's products such as concrete and asphalt.
    The company reported revenue of $2 billion in the quarter,
slightly below the average analyst estimate of $2.02 billion,
according to data compiled by LSEG.
    On an adjusted basis, Vulcan earned $2.22 per share, missing
estimates of $2.32.
    "While significant weather disruptions have impacted
construction activity through the first nine months of the year
... the pricing environment remains positive," the company's CEO
Tom Hill said.
    The company said it expects full-year adjusted core earnings
of about $2 billion.
    Growth in public construction activity and an improving
private demand environment should lead to volume growth in 2025,
Hill added.

 (Reporting by Abhinav Parmar in Bengaluru; Editing by Shounak
Dasgupta)
 ((Abhinav.Parmar@thomsonreuters.com))