Vulcan Materials, Martin Marietta, others share first-quarter 2020 reports
A number of the nation’s publicly traded aggregate producers have reported their first-quarter 2020 results to date. Photo: P&Q Staff
Vulcan Materials, Martin Marietta Materials, Lafarge Holcim, Summit Materials and others revealed their first-quarter 2020 results. Check the reports out below.
Vulcan Materials
Despite wet weather in certain key markets in the Southeast and Southwest, earnings were up in the first quarter at Vulcan Materials.
According to Vulcan, net earnings were $1.05 billion, compared to $996 million during the same period last year. Segment revenues and gross profit improved in each of Vulcan’s product lines.
Martin Marietta
Martin Marietta reported a strong first-quarter performance, including a quarterly record for consolidated revenues.
But upon releasing its quarterly results, the company recognized that the road ahead will likely be rockier because of the coronavirus (COVID-19) pandemic.
LafargeHolcim
LafargeHolcim experienced some gains in its North American aggregate business in the first quarter of 2020, but the company’s overall sales around the world – including cement, aggregate and ready-mixed concrete – were down about 11 percent, the company reports.
LafargeHolcim expects to feel the biggest impact from the coronavirus in the second quarter.
Summit Materials
Aggregate net revenues at Summit Materials increased 9.4 percent to $96.2 million in the first quarter of 2020, compared to the same period in 2019, the company reports.
Sales volumes also increased 9.7 percent in the first quarter compared to the prior-year period on higher organic volume growth. The company experienced strong demand and favorable pricing conditions in its East and West regions throughout the first quarter, resulting in record first-quarter net revenue.
MDU Resources
Knife River Corp.’s parent company, MDU Resources Group, reported first-quarter earnings of $25.1 million – a figure that is down about 38 percent from the company’s first-quarter 2019 earnings.
While operations continue to perform well as the nation responds to the COVID-19 pandemic, earnings in the first quarter were adversely impacted by much lower investment returns, milder weather at utility operations, and an adjustment on a construction contract, says David Goodin, president and CEO of MDU Resources.
U.S. Concrete
U.S. Concrete’s first-quarter 2020 aggregate products revenue increased 1.6 percent to $43.6 million, compared to the first quarter of 2019, the company reports.
The increase in aggregate products revenue results from a 5.4 percent increase in sales volume and a 0.9 percent increase in average selling price related to the mix of products sold, the company says.
USLM
United States Lime & Minerals (USLM) reports first-quarter 2020 revenues of $38.4 million, a 1.7 percent increase compared to $37.8 million in the first quarter of 2019.
According to USLM, the improved revenue is the result of an increase in the average selling price for its lime and limestone products.
Arcosa
Construction aggregate revenues were up in the first quarter of the year at Arcosa, which completed its acquisition of Houston-area Cherry Companies early this year.
Arcosa reported a first-quarter construction aggregate revenue of $132.1 million, up from $88.4 million in the first quarter of 2019.
Eagle Materials
Eagle Materials experienced significant revenue increases in concrete and aggregate in its latest quarter, ending March 31.
The company’s fiscal fourth quarter ended on that date with Eagle reaching a quarterly revenue of $39.5 million in concrete and aggregate. That’s an increase of 39 percent.
About the Author: P&Q Staff
Launched in 1916, Pit & Quarry magazine serves the multi-billion-dollar aggregates mining industry. It offers its readers informative articles about the equipment and technology used by producers of crushed stone, sand and gravel. Pit & Quarry’s editorial content is based on extensive reader research. The editorial staff covers the industry from the field, traveling thousands of miles each year to visit quarries, sand and gravel plants, and attend industry trade shows and conferences. With editorial offices in Cleveland and an experienced staff of contributing writers, Pit & Quarry has more editorial resources at its disposal than any other aggregates industry magazine. First launched in 1996, Pit & Quarry’s web site has become the leading online information source for aggregates producers. Using the latest technology, it provides visitors the most current and comprehensive information possible.Subscribe to Pit & Quarry
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