Vulcan, Martin Marietta among those to share second-quarter 2020 reports
A number of the nation’s publicly traded aggregate producers have reported their second-quarter 2020 results to date. Photo: P&Q Staff
Vulcan Materials, Martin Marietta and other major producers revealed their second-quarter 2020 results. Check out each company’s report below.
U.S. Concrete
Sales volumes and average selling prices were up significantly in the quarter, leading to some all-time-high quarterly marks at U.S. Concrete.
According to the company, the improvement is the result of a 10.8 percent increase in sales volume and an 8.5 percent increase in average selling price related to the favorable mix of products sold compared to the second quarter of 2019.
LafargeHolcim
According to LafargeHolcim, its 18.1 percent drop in sales was a reflection of the severe impact of strict lockdown of construction sites in several countries LafargeHolcim operates in.
The North American market was a stronger performer for LafargeHolcim, though.
Cemex
Cemex sales declined 10 percent across its global markets in the second quarter while the company’s earnings before interest, tax, depreciation and amortization dropped 6 percent.
“We expect COVID-19 will continue to challenge our operations in new ways over the next few quarters,” says Fernando González, CEO of Cemex.
Vulcan Materials
Says Vulcan chairman and CEO Tom Hill: “Our second-quarter results demonstrate the resiliency of our best-in-class aggregates-led business.”
Second-quarter aggregate segment sales increased 1 percent at Vulcan Materials, and the segment’s gross profit jumped 7 percent to $351 million, or $6.25 per ton.
Martin Marietta
Martin Marietta concluded the first half of 2020 with the highest profitability in company history, although the company recognizes some long-term challenges are ahead as it continues to work through sizable backlogs.
Product demand trends remained strong in key Martin Marietta geographies, most notably in north Texas, Colorado and Indiana, as well as Georgia and Florida.
Summit Materials
Although Summit Materials’ economic outlook is uncertain, the company completed its second quarter with a few quarterly financial records. Summit also detailed a recently-completed acquisition.
Summit experienced some quarterly gains within its aggregate business, with net revenues increasing by $1.3 million to $130 million compared to the second quarter of 2019.
USLM
United States Lime & Minerals (USLM) reported that its revenues dropped 3.6 percent in the second quarter.
Increased demand from the company’s construction customers partially offset declines in other markets, USLM says.
Arcosa
“Our record second-quarter results show the strong fundamentals of our infrastructure-related portfolio, along with excellent execution during the pandemic,” says Antonio Carillo, president and CEO of Arcosa.
Second-quarter revenues increased 15 percent, compared to the same period last year, to $498.5 million while adjusted earnings before interest, tax, depreciation and amortization increased 23 percent.
Eagle Materials
Eagle Materials completed its first quarter of fiscal 2021 on June 30, recently publishing details about its performance of late.
According to the company, it had a record revenue of $428 million – a 15 percent increase from the prior-year quarter.
HeidelbergCement
Second-quarter aggregate sales volumes were down within all of HeidelbergCement’s global groups, but the North American market did not experience the steep quarterly declines of other markets.
Companywide, HeidelbergCement sold 74.7 million metric tons of aggregate in the second quarter.
Subscribe to Pit & Quarry
If you enjoyed this article, subscribe to Pit & Quarry to receive more articles just like it.
