Vulcan Materials Company (NYSE: VMC), a leading supplier of construction aggregates and aggregates-based construction materials, announced results for the second quarter of 2024.
- Second-quarter revenues dropped to $2.01 billion from $2.11 billion in the corresponding period last year
- Net income came in at $308 million or $2.31 per share in Q2, compared to $308.6 million $2.31 per share a year earlier
- Second-quarter segment gross profit increased 6% to $529 million, and gross profit margin expanded by 120 basis points
- Aggregates shipments decreased 5% year-over-year, hurt by significant rainfall in many key markets
- SAG expense was $134 million in the June quarter, compared to $139 million in the prior year quarter
- Capital expenditures were $195 million in the second quarter and $298 million on a year-to-date basis
- For the full year, the company expects to spend between $625 and $675 million on maintenance and growth projects