Construction materials company Vulcan Materials (NYSE: VMC) will be reporting results this Thursday before the bell. Here’s what you need to know.
Vulcan Materials missed analysts’ revenue expectations by 2.8% last quarter, reporting revenues of $1.63 billion, up 5.8% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ adjusted operating income estimates. It reported 47.8 million tons shipped, flat year on year.
Is Vulcan Materials a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Vulcan Materials’s revenue to grow 9.6% year on year to $2.21 billion, a reversal from the 4.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.52 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Vulcan Materials has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Vulcan Materials’s peers in the building materials segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Armstrong World delivered year-on-year revenue growth of 16.3%, beating analysts’ expectations by 5.2%, and Valmont reported revenues up 1%, topping estimates by 1.7%. Valmont traded up 7.9% following the results.
Read our full analysis of Armstrong World’s results here and Valmont’s results here.
There has been positive sentiment among investors in the building materials segment, with share prices up 5.5% on average over the last month. Vulcan Materials is up 5% during the same time and is heading into earnings with an average analyst price target of $298.52 (compared to the current share price of $273.92).
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