Vulcan: 4Q Earnings Snapshot
BIRMINGHAM, Ala. (AP) _ Vulcan Materials Co. (VMC) on Thursday reported fourth-quarter net income of $124 million.
The Birmingham, Alabama-based company said it had net income of 93 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 99 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.
The construction materials company posted revenue of $1.09 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $1.08 billion.
For the year, the company reported profit of $515.8 million, or $3.85 per share. Revenue was reported as $4.38 billion.
Vulcan expects full-year earnings to be $4.55 to $5.05 per share.
Vulcan shares have increased 7 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen nearly 10 percent. The stock has dropped 18 percent in the last 12 months.