Construction materials company Vulcan Materials (NYSE:VMC) will be announcing earnings results tomorrow before market open. Here’s what investors should know.
Vulcan Materials beat analysts’ revenue expectations by 2.1% last quarter, reporting revenues of $1.85 billion, up 1.1% year on year. It was a stunning quarter for the company, with a solid beat of analysts’ EBITDA estimates. It reported 53.9 million tons shipped, down 2.5% 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 8.9% year on year to $1.68 billion, a reversal from the 6.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.77 per share.
Analysts covering the company have generally 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 four times over the last two years.
Looking at Vulcan Materials’s peers in the building materials segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Carlisle posted flat year-on-year revenue, beating analysts’ expectations by 0.6%, and Valmont reported flat revenue, falling short of estimates by 0.6%. Carlisle traded up 6.1% following the results while Valmont was also up 6.5%.
Read our full analysis of Carlisle’s results here and Valmont’s results here.
Investors in the building materials segment have had fairly steady hands going into earnings, with share prices down 1.3% on average over the last month. Vulcan Materials is up 5.2% during the same time and is heading into earnings with an average analyst price target of $286.75 (compared to the current share price of $245.39).
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