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    Vulcan Materials Co (VMC)

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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 .

    1. 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 .
    2. Asphalt - Produces and sells asphalt mix, heavily relying on the Aggregates segment for raw materials .
    3. Concrete - Produces and sells ready-mixed concrete, also dependent on the Aggregates segment for raw materials .
    4. Calcium - Involves operations that contribute less than one percent to total revenues and gross profit .
    NamePositionStart DateShort Bio
    J. Thomas HillChairman and Chief Executive OfficerJuly 2014J. Thomas Hill has been with Vulcan Materials Company for over 30 years, serving in various operations and general management roles. He was elected Chairman of the Board effective January 1, 2016 .
    Thompson S. Baker IIPresidentSeptember 2023Thompson S. Baker II was elected as President of Vulcan Materials Company effective September 2023. He previously served as Chief Operating Officer from May 2019 to September 2023 .
    Mary Andrews CarlisleSenior Vice President and Chief Financial OfficerSeptember 1, 2022Mary Andrews Carlisle was appointed as the Chief Financial Officer of Vulcan Materials Company effective September 1, 2022. She joined the company in 2006 .
    Stanley G. BassChief Strategy OfficerMarch 2021Stanley G. Bass was elected Chief Strategy Officer in March 2021. He has held various senior positions at Vulcan, including Chief Growth Officer from February 2016 .
    Ronnie A. PruittChief Operating OfficerSeptember 2023Ronnie A. Pruitt was appointed as the Chief Operating Officer of Vulcan Materials Company effective September 2023. He joined Vulcan as part of the acquisition of U.S. Concrete, Inc. in August 2021 .
    Denson N. Franklin IIISenior Vice President, General Counsel and SecretaryDecember 2019Denson N. Franklin III joined Vulcan Materials Company in December 2019 as Senior Vice President, General Counsel, and Secretary. He was previously a partner at Bradley Arant Boult Cummings LLP .
    Darren L. HicksSenior Vice President and Chief Human Resources OfficerMarch 1, 2022Darren L. Hicks was appointed as the Chief Human Resources Officer at Vulcan Materials Company effective March 1, 2022. He joined the company in 1994 .
    David P. ClementSenior Vice President, Operations Support, ProcurementN/ADavid P. Clement is the Senior Vice President of Operations Support and Procurement at Vulcan Materials Company. He first joined the organization as an operations management trainee in 1983 .
    Jerry F. Perkins Jr.Senior Vice President, Business Development, Commercial Excellence, Land, LogisticsN/AJerry F. Perkins Jr. is the Senior Vice President of Business Development, Commercial Excellence, Land, and Logistics at Vulcan Materials Company. He joined Vulcan in 2002 .
    Randy L. PiggVice President, Controller and Principal Accounting OfficerApril 2018Randy L. Pigg was elected as Vice President, Controller and Principal Accounting Officer in April 2018. He previously served as Vice President, Accounting since June 2016 .
    1. 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?

    2. 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?

    3. 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?

    4. 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?

    5. 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?

    Program DetailsProgram 1
    Approval DateFebruary 2017
    End Date/DurationNo time limit
    Total additional amount10,000,000 shares
    Remaining authorization6,817,118 shares
    DetailsMay be suspended or discontinued at any time
    YearAmount Due (in millions)Debt TypeInterest Rate% of Total Debt
    2025$400.0 4.50% Notes 4.50% 11.8% = (400.0 / 3,391.1) * 100
    2026$0.0 5.80% Notes (redeemed) 5.80% 0.0% = (0.0 / 3,391.1) * 100
    2027$400.0 3.90% Notes 3.90% 11.8% = (400.0 / 3,391.1) * 100
    2030$750.0 3.50% Notes 3.50% 22.1% = (750.0 / 3,391.1) * 100
    2037$129.2 7.15% Notes 7.15% 3.8% = (129.2 / 3,391.1) * 100
    2047$700.0 4.50% Notes 4.50% 20.6% = (700.0 / 3,391.1) * 100
    2048$460.9 4.70% Notes 4.70% 13.6% = (460.9 / 3,391.1) * 100

    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.
    NameStart DateEnd DateReason for Change
    Deloitte & Touche LLP1956 PresentCurrent auditor