Vulcan Materials (NYSE: VMC) reported Q2 EPS of $2.35, $0.14 worse than the analyst estimate of $2.49. Revenue for the quarter came in at $2.01 billion versus the consensus estimate of $2.05 billion.

Outlook
Regarding the Company\'s outlook, Mr. Hill said, \"Significant weather disruptions throughout the first half of the year impacted both construction activity and operating efficiencies, resulting in adjustments to our aggregates volume and cost outlook for the full year. Despite the challenging environment, aggregates cash gross profit per ton has increased double-digits this year, and we expect this trend to continue for the remainder of the year. The pricing environment remains positive, and overall demand fundamentals continue to underpin long-term growth.\"

Management expectations for 2024 include the following:

Continued improvement in Aggregates segment cash gross profit per ton ($9.46 in 2023)

Total shipments down 4 to 7 percent (234.3 million tons in 2023)
Freight-adjusted price improvement of 10 to 12 percent ($19.00 in 2023)
High-single digit increase in freight-adjusted cash cost (freight-adjusted price less segment cash gross profit per ton; $9.54 in 2023)

Total Asphalt and Concrete segment cash gross profit of approximately $275 million ($320 million in 2023; which included approximately 4 million cubic yards from concrete operations divested in late 2023)
Selling, Administrative and General expenses of $550 to $560 million ($543 million in 2023)
Interest expense of approximately $155 million
Depreciation, depletion, accretion and amortization expense of approximately $610 million
An effective tax rate of 22 to 23 percent
Net earnings attributable to Vulcan of $0.95 to $1.07 billion
Adjusted EBITDA between $2.00 and $2.15 billion

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