Vulcan Materials Turns To Profit In Q1 - Quick Facts

(RTTNews) - Vulcan Materials Co. (VMC) said that its net earnings for the first quarter ended March 31, 2014 was $53.995 million, compared to a net loss of $54.84 million in the year ago quarter. On a per share basis, net income of $0.41 versus a loss of $0.42 in the previous year.

Net income from continuing operations for the quarter was $0.41 per share compared to a net loss of $0.47 per share in the same quarter last year. Adjusted net loss from continuing operations for the latest-quarter was $0.28 per share.

Quarterly net sales grew to $548.50 million from $504.55 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.33 per share and revenues of $572.24 million for the quarter. Analysts' estimates typically exclude special items.

Don James, Chairman and Chief Executive Officer, said, "We remain optimistic about the volume and margin opportunities for 2014 and beyond as underlying fundamentals that help drive aggregates demand continue to improve. Sales momentum over the last twelve months supports our confidence in the full year aggregates volume and price growth projections we provided in February. In our non-aggregates businesses, we expect full year volume and price improvements in both asphalt and our continuing concrete businesses, driven mostly by increased private construction activity."