TOP NEWS
U.S. Concrete’s Aggregates Revenue Rises Higher
U.S. Concrete Inc. reported that consolidated revenue increased 18.6 percent to $404.2 million in this year’s second quarter, an all-time quarterly high. Aggregate products revenue increased 113.1 percent to $48.5 million, an all-time quarterly high.
Martin Marietta Climbs to Record Q2 Revenues; Profits
Martin Marietta Materials is reporting record revenues, profits and diluted earnings per share for its second quarter. The company’s gross revenues climbed to $1.20 billion, up from $1.06 billion in the second quarter of 2017.
Summit Materials Aggregates Revenues Rise in Second Quarter
Organic aggregates sales volumes increased 2.3 percent in the second quarter 2018, when compared to the prior-year period. Excluding contributions from the company’s project-dependent sand business in Vancouver, organic aggregates sales volumes increased 4.3 percent in the second quarter 2018.
MSHA WATCH
The Mine Safety and Health Administration (MSHA) reported that on July 31 a 62-year-old foreman with 40 years of experience was fatally injured while dismantling a portable crusher at Susag Sand & Gravel Inc. in Wells County, N.D. A front-end loader was placing a 20-ft.-long steel tube onto the screen feed conveyor. The front-end loader operator lowered the bucket and crushed the victim against the conveyor structure. This is the seventh fatality reported in calendar year 2018 in metal and nonmetal mining. As of this date in 2017, there were seven fatalities reported in metal and nonmetal mining. This is the fourth Powered Haulage fatality in 2018. There were three Powered Haulage fatalities during the same period in 2017.
USGS STATS
An estimated 256 million metric tons (Mt) of crushed stone was produced and shipped for consumption in the United States in the first quarter of 2018, a slight decrease compared with that of the same period of 2017. The estimated annual output produced for consumption in 2017 was 1.35 billion metric tones (Gt), a slight decrease compared with that of 2016. The estimated production-for-consumption of crushed stone in the first quarter of 2018 decreased in six of the nine geographic divisions compared with that sold or used in the first quarter of 2017, according to Jason Willett, crushed stone commodity specialist for the U.S. Geological Survey (USGS).
ECONOMIC INDICATORS
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New construction starts in June climbed 11 percent to a seasonally adjusted annual rate of $896.3 billion, according to Dodge Data & Analytics. The increase marked the second double-digit gain in a row, following the 15 percent hike that was reported for May. Highway and bridge construction was up 25 percent.
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The U.S. Census Bureau announced that construction spending during June 2018 was estimated at a seasonally adjusted annual rate of $1,317.2 billion, 1.1 percent (±1.0 percent) below the revised May estimate of $1,332.2 billion. The June figure is 6.1 percent (±1.6 percent) above the June 2017 estimate of $1,241.3 billion.
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The Dodge Momentum Index grew 0.8 percent in June to 165.5 (2000=100) from the revised May reading of 164.2. 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.
ENERGY PRICES
- WTI crude oil futures: 8/20/2018: $66.43/barrel, down $0.77 from week earlier; up $17.92 from year earlier.
- Diesel fuel: 8/20/2018: $3.207/gal., down $0.010 from week earlier; up $0.611 from year earlier.
- Electricity: 5/20/2018: Average price to industrial customers 6.82 cents/kilowatt hour; down from 6.81 cents/kilowatt hour a year earlier.
- Natural gas futures: 8/20/2018: $2.941/MMBtu, up $0.011 from week earlier; up $0.048 from year earlier.
- Propane: 3/26/2018: $2.480/gal., up from $2.390/gal. a year earlier.
Source: U.S. Energy Information Administration