Vulcan Materials Q3 Profit Increases - Quick Facts

(RTTNews) - Vulcan Materials Co. (VMC) reported that its third-quarter of 2013 net earnings increased to $41.36 million or $0.31 per share, from $14.26 million or $0.11 per share in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.27 per share. Analysts' estimates typically exclude special items.

Cash earnings for the quarter were $125.58 million, up from $84.49 million in the prior year. Results from the latest-quarter included a $9 million pretax gain on sale of reclaimed real estate.

Total revenues for the quarter grew to $813.57 million from $728.86 million in the prior year quarter. Twelve analysts had consensus revenue estimate of $774.13 million for the quarter.

The company said it continues to expect full year Selling, Administrative and General expenses to be flat to slightly down as compared to the prior year.

Don James, Chairman and Chief Executive Officer, said, "In our non-aggregates businesses, overall segment gross profit has improved $24 million through the first nine months of 2013. All three segments have reported improved gross profit and we expect each to report full year growth in 2013.....We expect increased private construction activity to continue leading to improved unit profitability in the Concrete segment. Cement earnings should improve in 2013 due primarily to lower production costs."