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Vulcan Materials' quarterly results miss on weather disruptions
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Vulcan Materials' quarterly results miss on weather disruptions
Nov 3, 2024 2:57 PM

Oct 30 - Vulcan Materials ( VMC ) reported third-quarter

results on Wednesday that missed Wall Street estimates as

weather disruptions impacted construction activity, affecting

demand for the company's products such as concrete and asphalt.

The company reported revenue of $2 billion in the quarter,

slightly below the average analyst estimate of $2.02 billion,

according to data compiled by LSEG.

On an adjusted basis, Vulcan earned $2.22 per share, missing

estimates of $2.32.

"While significant weather disruptions have impacted

construction activity through the first nine months of the year

... the pricing environment remains positive," the company's CEO

Tom Hill said.

The company said it expects full-year adjusted core earnings

of about $2 billion.

Growth in public construction activity and an improving

private demand environment should lead to volume growth in 2025,

Hill added.

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