Vulcan Materials (NYSE: VMC) reported Q3 EPS of $1.40, $0.05 worse than the analyst estimate of $1.45. Revenue for the quarter came in at $1.24 billion versus the consensus estimate of $1.23 billion.

• Total revenues increased $145 million, or 13 percent, to $1.2 billion
• Gross profit was $343 million versus $304 million in the prior year
• Aggregates segment sales increased $125 million to $984 million
  • Shipments increased 5 million tons, or 10 percent, to 56 million tons
  • Freight-adjusted sales price increased 2 percent to $13.35 per ton
  • Segment gross profit increased $46 million, or 18 percent, to $304 million
• Asphalt, Concrete and Calcium segment gross profit was $39 million, collectively
• SAG was $82 million, or 6.6 as a percentage of total revenues
• Net earnings were $179 million versus $109 million in the prior year
• Adjusted EBIT was $264 million versus $232 million in the prior year
• Adjusted EBITDA was $353 million, an increase of $42 million, or 13 percent
• Earnings from continuing operations were $1.34 per diluted share versus $0.82 per diluted share
• Adjusted earnings from continuing operations were $1.40 per diluted share versus $1.04 per diluted share

Demand and Earnings Outlook

Regarding the Company's outlook Mr. Hill stated, "Our execution in the third quarter overcame weather challenges in key markets and delivered strong incremental earnings. We are focused on finishing 2018 strong and carrying that momentum forward.

"Despite Hurricane Michael's impact on shipments in the Gulf Coast and Southeastern markets in early October and continued wet weather in Texas, aggregates shipment growth for the fourth quarter should approximate the same-store growth experienced in the third quarter. The underlying direction of price remains clear, strongly supported by our strategic and tactical focus on compounding pricing improvements. We expect aggregates pricing to continue strengthening throughout the remainder of the year and into 2019. Our preliminary outlook for 2019 includes mid-single digit growth in both aggregates volume and price.

"Our broad geographic footprint uniquely positioned in high-growth markets will continue to benefit Vulcan and its shareholders. Above-average demand growth in Vulcan markets compared to the rest of the U.S. supports our continued progress toward mid-cycle goals in 2019 and beyond."

GUIDANCE:

Vulcan Materials sees FY2018 EPS of $3.85-$3.95, versus the consensus of $4.03.

For earnings history and earnings-related data on Vulcan Materials (VMC) click here.