Vulcan Achieves First-Quarter Success
Vulcan Materials Co. announced that first-quarter earnings from continuing operations increased 23 percent year-over-year to $53 million on a 9 percent increase in total revenues.
Summit Materials Reports Revenue Increase
Summit Materials Inc. announced that net revenue increased by 11.9 percent to $289.9 million in the first quarter 2018, versus $259.0 million in the prior-year period.
Martin Marietta Takes First Quarter Hit
Martin Marietta Materials reported results for the first quarter ended March 31, 2018. The company is reporting revenues of $802 million versus $843.9 million in the first quarter of 2017.
The Mine Safety and Health Administration (MSHA) reported that on April 12, a 60-year-old customer truck driver was killed at Rye Dredge and Plant, Liberty County, Texas, when he fell from, and was run over by, his truck while scanning into the operator’s check-in system. The victim was found underneath the belly dump of the semi-trailer, and the truck was still in gear. This is the third fatality reported in calendar year 2018 in metal and nonmetal mining. As of this date in 2017, there were three fatalities reported in metal and nonmetal mining.
The estimated U.S. output of construction sand and gravel produced and shipped for consumption in the fourth quarter of 2017 was 233 Mt, an increase of 10 percent compared with that of the same period of 2016. The estimated total output of construction sand and gravel produced for consumption in 2017 was 906 Mt, a slight increase compared with that of 2016.
New construction starts in March increased 11 percent from the previous month to a seasonally adjusted annual rate of $785.2 billion, according to Dodge Data & Analytics. The substantial gain followed modest declines in January (down 2 percent) and February (down 3 percent).
The U.S. Census Bureau reported put-in-place construction statistics for March 2018. Construction spending was estimated at a seasonally adjusted annual rate of $1,284.7 billion, 1.7 percent (±0.8 percent) below the revised February estimate of $1,306.4 billion.
The Dodge Momentum Index jumped 6.1 percent in April to 163.0 (2000=100) from the revised March reading of 153.7. 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: 5/21/2018: $72.24/barrel. Up $1.28 from week earlier; up $21.91 from year earlier.
- Diesel Fuel: 5/20/2018: $3.277/gal., up $0.038 from week earlier; up $0.738 from year earlier.
- Electricity: 3/26/2018: Average price to industrial customers 6.75 cents/kilowatt hour; up from 6.62 cents/kilowatt hour a year earlier.
- Natural Gas Futures: 5/21/2018: $2.810/MMBtu, down $0.032 from week earlier; down $0.446 from year earlier.
- Propane: 3/26/2018: $2.480/gal., up from $2.390/gal. a year earlier.
Source: U.S. Energy Information Administration