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FIRST LOOK - MARCH 2019


TOP NEWS

AGG1

More than 10,000 people attended the 2019 AGG1 Academy & Expo and World of Asphalt shows. Rain, sleet, snow and high winds couldn’t prevent record-setting attendance numbers

Martin Marietta Materials

Martin Marietta Materials Inc. reported record results for the fourth quarter and year ended Dec. 31, 2018. The company is reporting total revenues of $1,020,218 for the fourth quarter, and $4,244,265 for the year.

Vulcan Materials

Vulcan Materials Co. announced results for the fourth quarter and year ended Dec. 31, 2018. Net earnings were $124 million and Adjusted EBITDA was $286 million in the fourth quarter. For the full year, net earnings were $516 million and Adjusted EBITDA was $1.132 billion (an increase of 15 percent) despite significantly higher energy costs.


MSHA WATCH

The Mine Safety and Health Administration (MSHA) reported that on Saturday, Jan. 5, a 55-year-old contract miner received fatal injuries when he was pinned between a pneumatically powered air lock equipment door and the concrete rib barrier located near the shaft bottom. This is the first fatality reported in calendar year 2019 in the mining industry and it is classified as Machinery. As of this date in 2018 there were no fatalities in the mining industry. 


USGS STATS

The estimated U.S. output of construction sand and gravel produced and shipped for consumption in the third quarter of 2018 was 289 Mt, an increase of 8 percent compared with the prior-year period. The estimated production for consumption in the first nine months of 2018 was 720 Mt, an increase of 7 percent compared with that of the same period of 2017, according to Jason Willett, crushed stone commodity specialist for the U.S. Geological Survey.


ECONOMIC INDICATORS

The value of new construction starts in January advanced 2 percent compared to December, reaching a seasonally adjusted annual rate of $722.5 billion, according to Dodge Data & Analytics.

The Dodge Momentum Index rose 4.7 percent in January to 157.7 (2000=100) from the revised December reading of 150.6. The Momentum Index, issued by Dodge Data & Analytics, 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.

Construction spending during November 2018 was estimated at a seasonally adjusted annual rate of $1,299.9 billion, 0.8 percent (±1.3 percent) above the revised October estimate of $1,289.7 billion. The November figure is 3.4 percent (±1.5 percent) above the November 2017 estimate of $1,257.3 billion.


ENERGY

  • Retail Gasoline Price:2/18/2019: $2.317/gal., up $0.041 from week earlier; down $0.240 from year earlier.
  • Retail Diesel Price:2/18/2019: $3.006/gal., up $0.040 from week earlier; down $0.021 from year earlier.
  • WTI Crude Oil Futures:2/21/2019: $56.96/barrel, up $2.55 from week earlier; down $4.72 from year earlier.
  • Natural Gas Inventories:2/15/2019: 1,705 Bcf, down 177 Bcf from week earlier; down 73 Bcf from year earlier.
  • Electricity:11/20/2018: Average price to industrial customers 6.88 cents/kilowatt hour; up from 6.73 cents/kilowatt hour from year earlier.

    Source: U.S. Energy Information Administration