News & Analysis
News & Analysis

Vulcan Materials closes at a new all-time high after earnings

19 February 2024 By Klavs Valters

Share

US manufacturer of building materials Vulcan Materials Company (NYSE: VMC) announced its latest financial results on Friday.

Vulcan Materials reported revenue that fell short of analyst estimates. Revenue reached $1.834 billion for Q4 2023 (up by 5.88% year-over-year) vs. $1.837 billion expected.

Earnings per share (EPS) topped expectations at $1.46 vs. $1.398 per share expected. EPS was up by 35.18% year-over-year.

Full year revenue was up by 6.38% from 2022 at $7.782 billion. EPS reached $7 per share, up from $5.11 the year before.

Company overview

  • Founded: 1909
  • Headquarters: Birmingham, Alabama United States
  • Number of employees: 12,000 (2023)
  • Industry: Construction materials
  • Key people: Tom Hill (Chief Executive Officer) Suzanne H. Wood (Chief Financial Officer) Denson N. Franklin III (General Counsel)

CEO commentary

“2023 was an exceptional year for Vulcan Materials. We generated over $2 billion in Adjusted EBITDA, a 24 percent increase over the prior year, expanded EBITDA margin by 360 basis points and generated $1.5 billion of operating cash flow that can be deployed to grow our business.  Our industry leading aggregates cash gross profit per ton increased each quarter on a year-over-year basis and was $9.46 per ton for the full year, a 21 percent improvement over the prior year. Six consecutive years of unit profitability improvement during a continuously shifting macro backdrop demonstrates the durability of our uniquely positioned aggregates-led business. We carry momentum into 2024, and our focus is the same – compounding unit margins through all parts of the cycle and creating value for our shareholders through improving returns on capital,” Tom Hill, CEO of Vulcan Materials said in a statement to shareholders.

Stock reaction

The stock was up by over 5% at the end of the trading session on Friday at $255.15 a share – a new all-time closing price.

Stock performance

  • 5 day: +6.31%
  • 1 month: +12.86%
  • 3 months: +20.16%
  • Year-to-date: +12.40%
  • 1 year: +37.44%

Vulcan Materials stock price targets

  • Raymond James: $240
  • Royal Bank of Canada: $236
  • Morgan Stanley: $208
  • Stifle Nicolaus: $279
  • JP Morgan Chase & Co.: $245
  • DA Davidson: $260
  • Barclays: $250
  • Citigroup: $260
  • Stephens: $260
  • Loop Capital: $260
  • Truist Financial: $260
  • Jefferies Financial Group: $265
  • The Goldman Sachs Group: $212

Vulcan Materials Company is the 555th largest company in the world with a market cap of $33.90 billion, according to CompaniesMarketCap.

You can trade Vulcan Materials Company (NYSE: VMC) and many other stocks from the NYSE, NASDAQ, HKEX and ASX with GO Markets as a Share CFD on the MetaTrader 5 platform. To find out more, go to “Trading” then select “Share CFDs”.

GO Markets offers pre-market and after-market trading on popular US Share CFDs.

Why trade during extended hours?

  • Volatility never sleeps. Trade over earnings releases as they happen outside of main trading hours
  • Reduce your risk and hedge your existing positions ahead of a new trading day
  • Extended trading hours on popular US stocks means extended opportunities

Sources: Vulcan Materials Company, TradingView, MarketWatch, MarketBeat, CompaniesMarketCap

Ready to start trading?

Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice.