Martin Marietta Roars
Martin Marietta Materials Inc. reported record results for the fourth quarter and full year ended Dec. 31, 2017. Fourth quarter consolidated total revenues were $970.5 million, versus $948.8 million in 2016. Full-year 2017 consolidated total revenues were $3,965.6 billion, versus $3,818.7 billion in 2016.
President Trump released his long-awaited infrastructure plan, which states his administration’s legislative goals to rebuild our nation’s crumbling infrastructure. It includes six principles.
Vulcan Comes Up Big
Vulcan Materials Co. announced results for the fourth quarter ended Dec. 31, 2017. Total revenues increased $105 million, or 12 percent, to $977 million. Gross profit was $243 million versus $240 million in the prior year. For the full-year 2017, total revenues were $3.89 billion, an increase of $298 million, or 8 percent.
Mine Safety and Health Administration (MSHA) Administrator David Zatezalo outlined priorities for the agency during a hearing of the House Subcommittee on Workforce Protections on Feb. 6. Zatezalo addressed inconsistencies among MSHA inspectors. Zatezalo said that MSHA is working to establish a single, agency-wide opinion when it comes to regulating operations among its 15 different districts. The National Stone, Sand and Gravel Association said it was encouraged by Zatezalo’s remarks about the importance of the aggregates-dominated, metal/non-metal segment of the industry.
The estimated U.S. output of construction sand and gravel produced and shipped for consumption in the third quarter of 2017 was 269 Mt, virtually unchanged compared with that of the third quarter of 2016. The estimated production for consumption in the first nine months of 2017 was 673 Mt, a slight decrease compared with that of the same period of 2016, according to Jason Willett, crushed stone commodity specialist for the U.S. Geological Survey (USGS).
Economic momentum supported by tax reform and federal infrastructure programs will play key roles in the demand for concrete construction in the years ahead, said Ed Sullivan, Portland Cement Association senior vice president and chief economist.
The U.S. Census Bureau announced that construction spending during December 2017 was estimated at a seasonally adjusted annual rate of $1,253.3 billion, 0.7 percent (±1.0 percent) above the revised November estimate of $1,245.1 billion.
The Dodge Momentum Index dropped 5.1 percent in January to 143.7 (2000=100) from the revised December reading of 151.5. The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.
- WTI crude oil futures price: 2/13/2018: $59.19/barrel, down $4.20 from week earlier; up $6.26 from year earlier.
- Diesel Fuel Prices: 2/12/2018: $3.063/gal., down 0.232 from week earlier; up 0.498 from year earlier.
- Electricity Prices: 2/12/2018: Average price to industrial customers 10.38 cents/kilowatt hour; up from 9.22 cents/kilowatt hour a year earlier.
- Natural Gas Future Prices:
2/13/2018: $2.594/MMBtu, down $0.165 from week earlier; down $0.350 from year earlier.
- Propane Prices: 2/5/2018: $2.595/gal., up from $2.453/gal. a year earlier.
Source: U.S. Energy Information Administration