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How Vulcan Materials fared in second quarter 2021

By |  August 4, 2021

Logo: Vulcan Materials Company

Second-quarter aggregate sales increased 5 percent at Vulcan Materials, where the business segment’s gross profit grew 6 percent to $374 million.

According to Vulcan, the nation’s largest aggregate producer, aggregate shipments increased 4 percent from the prior year’s second quarter. The increase reflects improving demand across all end-market segments, the company says.

Additionally, Vulcan says the aggregate pricing environment continues to be positive across its footprint as demand visibility improves. For the quarter, freight-adjusted pricing increased 3 percent at Vulcan. The rate of growth improved sequentially throughout the quarter, reflecting pricing actions taken in many areas. Vulcan expects these efforts to help offset cost inflation forecasted for the rest of the year.

Also, Vulcan says improved operating efficiencies helped offset both the sharp increase in the average unit cost of diesel fuel and the impact of any operational disruptions wet weather caused.

“Our performance in the first half of 2021 has been supported by consistent execution on Vulcan’s four strategic disciplines,” says Tom Hill, chairman and CEO of Vulcan. “Our team’s efforts have allowed us to expand our aggregates gross profit margin by 150 basis points and increase our cash gross profit per ton by 5 percent.”

Vulcan expects to continue the 2021 progress it’s made in the year’s second half.

“Recent pricing actions across much of our footprint and a keen focus on improving operating efficiencies will continue to help offset spikes in certain input costs,” Hill says. “The flexibility of our operating plans will enable us to maintain a high level of performance during the second half of the year and achieve our full-year 2021 targets. We remain excited and focused on closing the proposed acquisition of U.S. Concrete, which will expand Vulcan’s footprint in attractive geographies and accelerate our growth strategy.”

Kevin Yanik

About the Author:

Kevin Yanik is the editor-in-chief of Pit & Quarry magazine. Yanik can be reached at 216-706-3724 or kyanik@northcoastmedia.net.

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