Vulcan Materials CompanyVMC is the largest producer of construction aggregates in the U.S.
The company has been witnessing strong aggregates demand onward backed by increase in private construction demand - both residential and non-residential. Pricing momentum remains robust which has translated into expanding profit margins. However, skilled labor shortages and slight slowdown in demand trends in Texas remain the concerns.
Investors should also that earnings estimate for VMC has remained mostly moved downwards for sometime. However, VMC has an impressive earnings history. The building materials company has posted two positive earnings surprise in the past four quarters, with an impressive average surprise of 7.30%.
Currently, VMC has a Zacks Rank #3 (Hold), but that could definitely change following Vulcan' earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings : VMC beats on earnings. Our consensus earnings estimate called for EPS of $0.06 /share, and the company reported adjusted earnings of $0.26/ share instead. Investors should note that these figures take out stock option expenses.
Revenues: VMC reported revenues of $755 million. This surpassed our consensus estimate of $710 million.
Key Stats to Note : Aggregate shipment increased 17% in the quarter.
Stock Price: Inactive in pre-market trading .
Check back later for our full write up on this VMC earnings report later.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report