Vulcan Materials (VMC) Reports In-Line Q4 EPS, Beats on Revenues; Offers FY18 EPS Mid-Point Below Consensus
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Vulcan Materials (NYSE: VMC) reported Q4 EPS of $0.74, in-line with the analyst estimate of $0.74. Revenue for the quarter came in at $977 million versus the consensus estimate of $932.14 million.
"In total, we expect 2018 net earnings of between $4.00 and $4.65 per diluted share and Adjusted EBITDA of between $1.150 and $1.250 billion."
Fourth Quarter Summary (compared with prior year\'s fourth quarter)
- Total revenues increased $105 million, or 12 percent, to $977 million
- Gross profit was $243 million versus $240 million in the prior year
- Aggregates segment sales increased $56 million to $770 million and freight-adjusted revenues increased $45 million, or 8 percent, to $596 million
- Shipments increased 2.9 million tons, or 7 percent, to 46.0 million tons
- Freight-adjusted sales price increased $0.16 per ton, or 1 percent
- Segment gross profit was $208 million, in line with the prior year
- Asphalt, Concrete and Calcium segment gross profit improved $5 million, collectively
- SAG was $86 million, improved 35 basis points as a percentage of total revenues
- Net earnings were $328 million versus $113 million in the prior year
- Adjusted EBIT was $155 million versus $159 million in the prior year
- Adjusted EBITDA was $233 million, an increase of $3 million, or 1 percent
- Earnings from continuing operations were $2.43 per diluted share versus $0.80 per diluted share. Current year results include costs associated with the early retirement of debt and a net tax benefit from enacted U.S. tax legislation.
- Adjusted earnings from continuing operations were $0.74 per diluted share versus $0.69 per diluted share
GUIDANCE:
Vulcan Materials sees FY2018 EPS of $4.00-$4.65, versus the consensus of $4.34.
For earnings history and earnings-related data on Vulcan Materials (VMC) click here.
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