- Vulcan Materials Co (NYSE:VMC) reported a second-quarter revenue increase of 43.6% year-over-year to $1.95 billion, beating the consensus of $1.86 billion.
- Adjusted EPS was $1.53, missing the consensus of $1.74.
- Overall gross margin contracted by 644 bps to 22.8%. The operating earnings increased by 7% Y/Y to $307.6 million, and the margin contracted by 538 bps to 15.7%.
- Vulcan Materials generated cash from operating activities year-to-date of $325.5 million, compared to $397.9 million a year ago.
- Adjusted EBITDA was $450.2 million (+10.9% Y/Y), and the margin contracted by 680 bps to 23%.
- Average selling prices increased in each product line, helping to offset inflationary pressures. Aggregates pricing increased 9% (10 percent mix-adjusted), and the average price for asphalt and concrete increased 19% and 14%, respectively, during the quarter.
- On June 30, 2022, the total debt ratio to trailing-twelve months Adjusted EBITDA was 2.6 times.
- The company disclosed a potential EBITDA impact of $80 million – $100 million should it be unable to fully operate in Mexico for the balance of 2022. In May, the company unexpectedly and arbitrarily shut down its operations in Mexico.
- FY22 Outlook: Vulcan Materials expects an Adjusted EBITDA of $1.60 billion – $1.70 billion.
- “We are updating our full-year Adjusted EBITDA guidance range to reflect the considerable pricing momentum in our aggregates business as well as higher than expected energy-related cost inflation that is currently impacting each of our segments,” said Chairman & CEO Tom Hill.
- Price Action: VMC shares are trading higher by 2.92% at $171.11 on the last check Thursday.
Why E.L.F. Beauty Stock Is Taking Off Thursday
E.L.F. Beauty Inc (NYSE: ELF) shares are trading higher Thursday after the company reported strong financial results and raised guidance above estimates.
