Vulcan: 2Q Earnings Snapshot
BIRMINGHAM, Ala. (AP) _ Vulcan Materials Co. (VMC) on Tuesday reported second-quarter profit of $159.7 million.
The Birmingham, Alabama-based company said it had profit of $1.19 per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $1.23 per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.37 per share.
The construction materials company posted revenue of $1.2 billion in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $1.16 billion.
Vulcan shares have declined nearly 9 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen almost 5 percent. The stock has declined 5.5 percent in the last 12 months.