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Sep 30, 2024
Vulcan Materials Q3 2024 Earnings Report
Vulcan Materials reported Q3 2024 results, demonstrating solid execution that drove margin expansion despite extreme weather disruptions.
Key Takeaways
Vulcan Materials Company reported its Q3 2024 results, with a focus on the consistent execution of their strategy to generate durable growth, enhancing their core business through the expansion of aggregates cash gross profit per ton. The company also announced the acquisition of Wake Stone Corporation to expand its reach in high-growth geographies.
Aggregates cash gross profit per ton increased 10 percent.
Acquisition of Wake Stone Corporation will expand reach in high-growth geographies in the Carolinas.
Freight-adjusted selling prices for aggregates increased 10 percent.
Company expects to close the transaction during the fourth quarter of this year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Vulcan Materials expects full-year Adjusted EBITDA of approximately $2 billion.
Positive Outlook
- Overall demand fundamentals continue to underpin long-term growth.
- The pricing environment remains positive.
- Aggregates price to improve high-single digits in 2025.
- Cost to benefit from Vulcan Way of Operating disciplines and moderating inflation in 2025.
- Cash gross profit per ton to continue expanding at double-digit levels in 2025.
Challenges Ahead
- Significant weather disruptions have impacted construction activity through the first nine months of the year.
- Decline in shipments to date.
- Continued weather events so far in the fourth quarter.
- No specific negatives were mentioned besides weather and shipment declines.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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