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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 .
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
J. Thomas Hill ExecutiveBoard | Chairman and CEO | Board Member at Regions Financial Corporation | Over 30 years at VMC; became CEO in July 2014 and Chairman in January 2016. Extensive experience in aggregates industry and leadership roles across VMC's divisions. | View Report → |
Denson N. Franklin III Executive | Senior Vice President, General Counsel, and Secretary | None | Senior Vice President and General Counsel since 2024. Provides legal oversight and governance expertise. | |
Mary Andrews Carlisle Executive | Senior Vice President and CFO | None | Joined VMC in 2006; appointed CFO in September 2022. Extensive experience in corporate finance, business development, and operational initiatives. | |
Randy L. Pigg Executive | Vice President, Controller, and Principal Accounting Officer | None | Joined VMC in 2014; promoted to current role in April 2018. Oversees accounting and financial reporting functions. | |
Ronnie A. Pruitt Executive | Chief Operating Officer | None | Joined VMC via U.S. Concrete acquisition in 2021; promoted to COO in September 2023. Former CEO of U.S. Concrete. Responsible for profitability and operational improvements. | |
Stanley G. Bass Executive | Chief Strategy Officer | None | Over 20 years at VMC; became Chief Strategy Officer in March 2021. Previously served as Chief Growth Officer and held senior leadership roles in multiple regions. | |
Thompson S. Baker II Executive | President | None | Joined VMC in 2017; previously CEO of FRP Holdings. Promoted to President in September 2023. Leads enterprise-wide strategic initiatives and supports senior leadership. | |
Cynthia L. Hostetler Board | Director | Director at Resideo Technologies, Inc. and TriLinc Global Impact Fund, LLC | Director since 2014. Former Head of Investment Funds at OPIC. Expertise in finance, investment, and risk assessment. | |
David P. Steiner Board | Director | Board Member at FedEx Corporation | Director since 2017. Former CEO of Waste Management, Inc. Expertise in logistics, operations, and governance. | |
George Willis Board | Director | Board Member at JM Huber Corporation | Director since 2020. Former President of U.S. Operations at UPS. Expertise in logistics, transportation, and operations. | |
James T. Prokopanko Board | Director | Director at Regions Financial Corporation and Xcel Energy Inc. | Director since 2009. Former CEO of The Mosaic Company. Expertise in mineral extraction, leadership, and management. | |
Kathleen L. Quirk Board | Director | President and Director of Freeport-McMoRan Inc. | Director since 2017. Extensive experience in mining, finance, and corporate development. | |
Lydia H. Kennard Board | Director | President and CEO of KDG Construction Consulting and Quality Engineering Solutions | Director since 2022. Former Executive Director of Los Angeles World Airports. Expertise in infrastructure, urban planning, and governance. | |
Melissa H. Anderson Board | Director | Senior Vice President, Chief People Officer at Albemarle Corporation | Director since 2019. Extensive expertise in human resources, talent transformation, and executive compensation. | |
O. B. Grayson Hall, Jr. Board | Director | Board Member at Alabama Power Company | Director since 2014. Former Executive Chairman of Regions Financial Corporation. Expertise in banking, finance, and cybersecurity. | |
Richard T. O'Brien Board | Director | Director at Xcel Energy Inc. and Ma'aden | Director since 2008. Former CEO of Newmont Mining. Expertise in mining, finance, and environmental issues. | |
Thomas A. Fanning Board | Director | Chair of Cybersecurity & Infrastructure Security Agency Advisory Committee | Director since 2015. Former CEO of Southern Company. Expertise in energy policy, cybersecurity, and national security. |
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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.
| Company | Description |
|---|---|
This company is one of the ten largest aggregates producers in the U.S. aggregates industry, which is highly fragmented. The ten largest producers collectively accounted for approximately 33% of the total U.S. aggregates production in 2023. | |
This company is among the ten largest aggregates producers in the U.S., a market where the largest producers collectively hold about 33% of the total production. | |
Heidelberg Materials AG | This company is listed as one of the ten largest aggregates producers in the U.S., operating in a fragmented industry with significant opportunities for consolidation. |
Holcim Ltd. | This company is one of the ten largest aggregates producers in the U.S., where the industry is fragmented and dominated by a mix of small companies and a few large players. |
Knife River Corp. | This company is identified as one of the ten largest aggregates producers in the U.S., contributing to the 33% market share held by the top ten producers. |
This company is a major competitor and one of the ten largest aggregates producers in the U.S., operating in a fragmented industry with opportunities for growth through acquisitions. | |
This company is among the ten largest aggregates producers in the U.S., part of a fragmented industry where the top ten producers hold a combined market share of 33%. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Superior Ready Mix Concrete, L.P. | 2024 | Vulcan Materials Company completed the acquisition with an announcement on December 11, 2024, as part of its aggregates-led growth strategy in Southern California. The deal enhances its portfolio by acquiring six aggregates operations, two asphalt plants, and thirteen ready-mixed concrete locations, with an expected closing by year-end subject to customary conditions (no deal value disclosed). |
Wake Stone Corporation | 2024 | Vulcan Materials Company agreed to acquire Wake Stone Corporation, a leading pure-play aggregates supplier, as announced on September 26, 2024, to advance its growth strategy in high-growth U.S. regions. The deal, expected to close in Q4 2024, provides over 60 years of quality hard rock reserves and is supported by a $2.0 billion two-year delayed draw term loan facility. |
Recent developments and announcements about VMC.
Earnings
New Earnings (Q4 2024)
·Feb 18, 2025, 10:42 PMView full earnings summary →VMC extended its 9-quarter streak of double-digit unit margin gains, guided 5–7% price growth (100bps drag from acquisitions), and sees $150M EBITDA from M&A by 2025 (60% in Aggregates). Non-res volumes remain weak, but signs of 2H rebound.
Press Releases
Press Release
·Feb 14, 2025, 10:24 PMView full press release →Vulcan Materials announced a quarterly cash dividend of $0.49 per share—a 7% increase from $0.46. This marks the eighth consecutive year of dividend growth, reflecting strong cash generation and solid financial strength.