Vulcan reveals second quarter progress
Vulcan Materials has released its second quarter 2015 results. Compared to the second quarter of 2014, Vulcan’s total revenues increased $104 million, or 13 percent, to $895 million. Gross profit increased $60 million, or 34 percent, to $234 million as well. In addition, aggregates freight-adjusted revenues increased $75 million, or 15 percent, to $558 million, with shipments increasing 9 percent and segment gross profit increasing 28 percent. Finally, the asphalt mix, concrete and calcium segment gross profit improved $14 million.
According to the company, severe wet weather disrupted shipments across many of the company’s key markets in the aggregates segment. However, on a same-store basis, aggregates shipments increased 5 percent in May, 2 percent in April and 9 percent in June. Additionally, the freight-adjusted average sales price for aggregates increased 6.4 percent on a same-store basis, or 71 cents per ton, compared to the second quarter of 2014.
In the second quarter of 2015, concrete segment gross profit was $5 million, compared with $3 million in the second quarter of 2014. On a same-store basis, sales volumes decreased 5 percent, which can be attributed to the wet weather in Virginia and Texas, reports Vulcan.
“Severe weather in the first half of the year, particularly in the second quarter, masked improving fundamentals in construction activity,” says Tom Hill, president and CEO of Vulcan. “Underlying demand remains strong and we are encouraged by the accelerating momentum in aggregates pricing throughout our markets.”
Hill says he plans to keep pushing for additional improvement in the company, especially as revenue continues to grow.
About the Author: Allison Kral
Allison Kral is the former senior digital media manager for North Coast Media (NCM). She completed her undergraduate degree at Ohio University where she received a Bachelor of Science in magazine journalism from the E.W. Scripps School of Journalism. She works across a number of digital platforms, which include creating e-newsletters, writing articles and posting across social media sites. She also creates content for NCM's Portable Plants magazine, GPS World magazine and Geospatial Solutions. Her understanding of the ever-changing digital media world allows her to quickly grasp what a target audience desires and create content that is appealing and relevant for any client across any platform.Subscribe to Pit & Quarry
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