Martin Marietta, Summit Materials, Cemex, more share third-quarter 2019 results
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Vulcan Materials, Martin Marietta, Summit Materials, Cemex, MDU Resources, Granite Construction and USLM released their third-quarter 2019 results. Check out how each company performed.
Vulcan Materials
Third-quarter aggregate sales increased 15 percent at Vulcan Materials Co., and gross profit was up 18 percent to $357 million.
According to Vulcan, unit margins increased 46 cents per ton, or 9 percent, to $5.87 per ton.
“We continued to execute well during the third quarter,” says Tom Hill, Vulcan chairman and CEO. “The growth in our aggregates shipments and improvement in pricing were strong.”
Martin Marietta
Martin Marietta established records for revenues and profits in the third quarter of 2019, and it exhibited widespread shipment and pricing strength across the majority of its building materials business.
Aggregate shipments were up 12 percent and pricing jumped 5 percent in the quarter, Martin Marietta reports.
U.S. Concrete
Aggregate product sales were down slightly at U.S. Concrete in the third quarter this year.
Aggregate product revenue declined $600,000 in the quarter, resulting from a 3 decrease in sales volume that was partially offset by a 2 increase in average selling price.
Sales volume growth was hindered by the delay in certain Polaris Materials shipments due to one of the transportation carrier’s ships being temporarily taken out of service, U.S. Concrete says.
Summit Materials
Third-quarter aggregate sales volumes increased 12.6 percent at Summit Materials, which reports its average sales prices in aggregate jumped 6.9 percent.
“With the exception of our ready-mix business, where volumes were impacted by rainy conditions in Texas, we experienced solid volume growth in our aggregates and asphalt businesses and price growth in all lines of business, which helped us rebound from setbacks in the first half of the year,” says Tom Hill, CEO of Summit Materials.”
Cemex
Cemex’s operations in the United States reported net sales of $1.04 billion in the third quarter of 2019, an increase of 5 percent from the same period in 2018.
The company’s operating earnings before interest, tax, depreciation and amortization (EBITDA) increased 2 percent to $205 million from $202 million in the third quarter of 2018.
MDU Resources
Third-quarter earnings at MDU Resources Group totaled $137.6 million, a notable increase from third-quarter 2018 earnings of $107.3 million.
For the nine months ending Sept. 30, MDU Resources earned $240.4 million, compared to $193.5 million for the same period in 2018.
Granite Construction
Granite Construction reported net income of $20.5 million in the third quarter, a mark that’s down significantly from the company’s 2018 third quarter.
Granite reported a 2018 third-quarter net income of $55.7 million.
On a year-to-date basis, the company’s net loss is $111.9 million compared to a net income of $35.9 million last year.
USLM
United States Lime & Minerals (USLM) reported an increase in third-quarter revenue tied to its lime and limestone operations.
Quarterly revenue from the company’s lime and limestone operations was at $43.3 million, up 24.6 percent from the prior-year period. Through the first nine months of 2019, USLM’s lime and limestone revenue is up 10.5 percent.
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