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Vulcan Materials Co VMC Stock Quote

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Morningstar‘s Stock Analysis VMC

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Vulcan Reports Solid 2Q Results due to Strong Demand and Higher Selling Prices

Spencer Liberman Equity Analyst

Business Strategy and Outlook

| Spencer Liberman |

Aggregates producer Vulcan Materials is well positioned to benefit from the ongoing recovery of U.S. construction spending. We forecast strengthening demand growth for the public sector and modest growth for the private sector. Accounting for roughly 40% of shipments, public-sector demand is generally more stable, and projects, primarily highway construction, are more aggregate-intensive per dollar of spending. Federal funding power has weakened as better vehicle mileage and inflation have diminished the buying power of the $0.18 per gallon gasoline tax, unchanged since 1993. The FAST Act, passed in December 2015, provided stability and near-term funding certainty, but didn't solve the still-weakening gas tax. However, long-term federal funding was passed in late 2021, totaling $1.2 trillion.

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Company Profile VMC

Business Description

Vulcan Materials is the United States' largest producer of construction aggregates (crushed stone, sand, and gravel). Its largest markets include Texas, California, Virginia, Tennessee, Georgia, Florida, North Carolina, and Alabama. In 2021, Vulcan sold 222.9 million tons of aggregates, 11.4 million tons of asphalt mix, and 5.6 million cubic yards of ready-mix. As of Dec. 31, 2021, the company had nearly 16 billion tons of aggregates reserves.

Contact
1200 Urban Center Drive
Birmingham, AL, 35242
T +1 205 298-3000
Industry Building Materials
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 11,912

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