Alabama-based Vulcan Materials beats Wall Street’s expectations for third quarter
Published 7:08 am Wednesday, November 2, 2022
Vulcan Materials Co. (VMC) on Wednesday reported third-quarter profit of $177.1 million.
The Birmingham, Alabama-based company said it had profit of $1.33 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to $1.78 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.71 per share.
The construction materials company posted revenue of $2.09 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $2 billion.