Published on 4 May 2024 on Zacks via Yahoo Finance
Vulcan (VMC) Q1 Earnings Hit by Low Shipments, Solid Pricing Aids
Vulcan Materials Company’s VMC stock gained 1.8% in the day trading session on May 2 despite reporting lower earnings and revenues for the first quarter of 2024. The uptrend is likely to have been backed by the company’s consistent belief in its already strong 2024 guidance.This leading Aggregate supplier reported impressive quarterly results despite unfavorable weather conditions for most of the quarter. Its first-quarter adjusted earnings per share (EPS) and revenues beat the consensus mark by 5.3% and 1.3%, respectively. However, EPS decreased 15.8% and revenues declined 6.2% from the year-ago period due to lower Aggregate shipments.On the contrary, gross margin and adjusted EBITDA margin were up 140 basis points (bps) and 40 bps, respectively, year over year, on the back of continued pricing momentum and solid execution. (Read more: Vulcan Q1 Earnings Beat, Adjusted EBITDA Margin Up)
Vulcan Materials Company Price, Consensus and EPS Surprise
