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Vulcan Materials Company (VMC) is the largest supplier of construction aggregates in the United States, specializing in crushed stone, sand, and gravel . The company also produces aggregates-intensive downstream products such as asphalt mix and ready-mixed concrete . VMC operates primarily in the U.S., with additional operations in the Bahamas, Canada, Honduras, Mexico, and the U.S. Virgin Islands . The company's business is organized into four segments: Aggregates, Asphalt, Concrete, and Calcium .
- Aggregates - Supplies crushed stone, sand, and gravel for various construction projects, including public infrastructure and private residential and nonresidential buildings, serving as the primary focus and largest revenue contributor .
- Asphalt - Produces and sells asphalt mix, heavily relying on the Aggregates segment for raw materials .
- Concrete - Produces and sells ready-mixed concrete, also dependent on the Aggregates segment for raw materials .
- Calcium - Involves operations that contribute less than one percent to total revenues and gross profit .
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Given the significant impact of unfavorable weather on your shipments and operating efficiencies in the first half , and the continued weather disruptions in July and early Q3 , how confident are you in achieving your full-year guidance, especially considering the reliance on dry shipping days in the remaining months?
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With aggregate shipments expected to decline between 4% and 7% for the full year , and unit freight-adjusted cash cost of sales increasing high single digits , what specific actions are you taking to manage costs and protect margins in the face of lower volumes and rising costs?
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You mentioned that growth in single-family demand is slower than expected, and that warehouse activity in private nonresidential construction is a headwind ; how do you plan to offset these challenges, and what is your strategy to capture growth in other segments like manufacturing and data centers?
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With increased competition from international materials companies looking to grow their U.S. exposure , are you seeing pressure on acquisition valuations, and how does this impact your ability to execute on meaningful acquisitions while maintaining discipline?
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Despite raising mid-year prices , you maintained your aggregates price increase guidance of 10% to 12% ; what factors are limiting further price increases, and how are you balancing pricing with potential impacts on demand in a competitive market?
Competitors mentioned in the company's latest 10K filing.
- Cemex S.A.B. de C.V.
- CRH plc
- Heidelberg Materials AG
- Holcim Ltd.
- Knife River Corp.
- Martin Marietta Materials, Inc.
- Summit Materials, Inc.