Vulcan Materials, Martin Marietta, more unveil first-quarter 2019 reports
Photo by Joe McCarthy
Vulcan Materials, Martin Marietta Materials, Cemex, CRH and Granite Construction revealed their first-quarter 2019 results. Check the reports out below.
Vulcan Materials
Earnings were up in the first quarter at Vulcan Materials, whose CEO is optimistic about the months ahead.
According to Vulcan, net earnings were $63 million in the first quarter and adjusted earnings before interest, tax, depreciation and amortization (EBITDA) totaled $193 million. Strong aggregate shipments, up 13 percent year-over-year, and a 5.4 percent increase in aggregate pricing drove the 15 percent increase in adjusted EBITDA.
Martin Marietta Materials
In addition, Martin Marietta reached new first-quarter heights in revenue and earnings before interest, tax, depreciation and amortization, setting records in both during the first three months of 2019.
Improved shipments, pricing and cost management drove Martin Marietta’s first-quarter performance, according to Ward Nye, the company’s chairman, president and CEO.
Cemex
Aggregate and ready-mixed concrete volumes in the United States grew in the first quarter of the year at Cemex despite adverse weather, the company reports.
On a like-to-like basis for ongoing operations and adjusting for foreign exchange fluctuations, Cemex’s consolidated net sales increased by 1 percent, reaching $3.2 billion during the first quarter of 2019 versus the comparable period in 2018.
CRH Americas Materials
First-quarter 2019 like-for-like sales at CRH Americas Materials operations were 4 percent above the prior year’s first quarter, the company reports.
Operations benefited from good underlying demand, continued strong market fundamentals and pricing progress across product lines, CRH says.
Granite Construction
Granite Construction reported a net loss of $34.6 million for the first quarter of the year.
Last year’s first quarter net loss was $11.4 million.
US Lime
United States Lime & Minerals reported revenues from its lime and limestone operations in the first quarter increased $2.8 million, or 7.9 percent, to $37.5 million from $34.7 million in the comparable 2018 quarter.
HeidelbergCement
HeidelbergCement reported growth in both revenue and sales volumes in its first-quarter earnings.
First-quarter revenue grew significantly to 4.2 billion euros, compared to 3.6 billion during the same time period last year, equating to a 17 percent increase.
U.S. Concrete
U.S. Concrete reported increased revenue, aggregate products revenue and gross profit in the first quarter of 2019.
According to the company, its consolidated revenue increased 1.6 percent to $333.1 million; its aggregate products revenue increased 25.4 percent to $42.9 million; and its aggregate products volume increased 17 percent to 2.5 million tons.
Summit Materials
U.S. Concrete reported increased revenue, aggregate products revenue and gross profit in the first quarter of 2019.
Summit Materials saw net revenue increase 5.5 percent in the first quarter, while net income and earnings per share decreased.
Adjusted earnings before interest, tax, depreciation and amortization increased $6.6 million in 2019 compared to $5.5 million in 2018, as increases in aggregate and asphalt volumes were achieved.
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