VULCAN MATERIALS Reports Record Q2 Earnings for FY2023
August 9, 2023
🌥️Earnings Overview
On August 3, 2023, VULCAN MATERIALS ($NYSE:VMC) reported their earnings for the quarter ending June 30, 2023. Revenue for the quarter was USD 2112.9 million, an 8.1% increase from the same period the previous year; net income saw an even larger year-over-year increase of 64.8%, totaling USD 308.6 million.
Market Price
On Thursday, VULCAN MATERIALS reported record second quarter earnings for FY2023. The stock opened at $219.6 and closed at $226.2, up by 1.4% from the prior closing price of 223.1. This marked the sixth consecutive quarter of financial stability for the company. The successful quarter was fueled by strong operational performance and a focus on efficiency. The company saw lower input costs, higher production and improved efficiency of their operations.
VULCAN MATERIALS also reported record revenues of $2 billion, up 4% from the prior year. In addition to the strong financial performance, VULCAN MATERIALS announced new initiatives to increase its visibility in the marketplace. They announced several new partnerships with environmental organizations to ensure that their products are sustainable and meet the highest standards of quality and safety. With a strong financial performance and initiatives to enhance their reputation in the marketplace, the company is sure to continue its growth and success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Vulcan Materials. More…
| Total Revenues | Net Income | Net Margin |
| 7.58k | 725.8 | 10.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Vulcan Materials. More…
| Operations | Investing | Financing |
| 1.33k | -787.5 | -498.2 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Vulcan Materials. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 14.33k | 7.11k | 54.13 |
Key Ratios Snapshot
Some of the financial key ratios for Vulcan Materials are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.1% | 9.6% | 15.1% |
| FCF Margin | ROE | ROA |
| 8.6% | 10.1% | 5.0% |
Analysis
At GoodWhale, we have conducted an in-depth analysis of the financials of VULCAN MATERIALS, and based on our Risk Rating, we can confidently say that VULCAN MATERIALS is a generally low risk investment from both a financial and business standpoint. However, we did detect two risk warnings within their income and balance sheets. If you are interested in learning more about the specific risks, we suggest you become a registered user of GoodWhale so you can view all of our findings. More…
Peers
Vulcan Materials Co is one of the world’s leading suppliers of construction materials. It has operations in the United States, Mexico and Canada. Its competitors include Martin Marietta Materials Inc, CRH PLC, Cemex SAB de CV.
– Martin Marietta Materials Inc ($NYSE:MLM)
Martin Marietta Materials Inc is a publicly traded company with a market capitalization of 19.54 billion as of 2022. The company has a return on equity of 10.84%. Martin Marietta Materials Inc is a supplier of construction aggregates and heavy building materials, with operations in the United States and Canada. The company produces a variety of construction materials, including gravel, sand, limestone, and other crushed stone products, as well as asphalt and concrete.
– CRH PLC ($LSE:CRH)
CRH plc is a building materials company. The Company’s segments include Europe Heavyside, Europe Lightside, America and Asia. Its products include aggregates, asphalt, cement, ready-mixed concrete, paving and construction products and concrete products. Its America Products segment includes its asphalt, aggregates, ready-mixed concrete, cement and paving businesses in the United States and Canada. Its Asia Products segment includes its operations in Asia. It operates in over 30 countries and employs over 83,000 people at approximately 3,600 locations.
– Cemex SAB de CV ($NYSE:CX)
Cemex SAB de CV, a leading cement manufacturer, has a market cap of $4.86 billion as of 2022. The company has a return on equity of 14.18%. Cemex produces and sells cement, concrete, and other building materials products. It operates in more than 50 countries and has a workforce of over 46,000 employees.
Summary
Vulcan Materials Co. has seen impressive growth in the second quarter of 2023, with total revenue increasing by 8.1% and net income rising 64.8% year over year. This is great news for investors, who can look forward to continued growth and higher earnings in the coming quarters. The company’s strong performance has been attributed to a combination of higher sales volumes, improved pricing and cost management. With growing demand for its products and services, Vulcan Materials is well-positioned to capitalize on the current economic climate and continue to expand its operations.
