Vulcan Materials Posts Higher Q3 Profit - Quick Facts

(RTTNews) - Construction aggregates and materials manufacturer Vulcan Materials Co. (VMC) posted higher third-quarter net earnings of $66.94 million, or $0.50 per share, versus the year-ago quarter's $41.36 million, or $0.31 per share. Earnings from continuing operations were $0.51 per share, including $0.03 per share in expenses related to business development activities, compared with $0.32 a year before, which included $0.04 per share associated with the gain on sale of reclaimed real estate. On average, 14 analysts polled by Thomson Reuters expected earnings of $0.52 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues increased 7 percent year-over-year to $873.58 million from $813.57 million, whereas 12 analysts had consensus estimate of $844.81 million.

Tom Hill, President and Chief Executive, said, "Strong growth in aggregates volumes and solid operating performance in our aggregates businesses led to significant earnings growth for the Company. Our third quarter results continued to demonstrate the earnings leverage of volume growth in our aggregates business. We are also seeing the benefit of our continuing efforts to grow unit profitability and leverage our overhead structure."