Eagle Flies High
Eagle Materials Inc. reported Concrete and Aggregates division revenues for the second quarter of $38.8 million, an increase of 7 percent. Second quarter operating earnings were $4.8 million, a 25 percent improvement from the same quarter a year ago, reflecting improved aggregates sales volumes and improved concrete and aggregates sales prices.
Polaris Turns Up the Volume
Polaris Materials announced that sales volumes in the third quarter of 2016 were 810,000 tons, an increase of 11 percent over third quarter 2015. Year-to-date sales volumes were 2.27 million tons, an increase of 7 percent over the same period in 2015, according to the company.
Kicking Some Asphalt
Oldcastle Materials announced plans to build a new asphalt plant within Port San Antonio’s 350-acre East Kelly Railport. The expansion comes at a time when the region – among the fastest-growing communities in the country – plans to undergo significant road and infrastructure improvements in the years ahead.
The Mine Safety and Health Administration conducted an impact inspection on Sept. 28, 2016, at Buzzi Unicem USA’s Maryneal Quarry and Mill in Nolan County, Texas. Enforcement personnel issued 11 citations and four orders, including an imminent danger order requiring the operator to remove miners from dangerous unprotected roadways. The imminent danger order and written violation stated that dust completely filled the crane and bin storage area of the mill building and impaired the visibility of customer truck drivers and mine equipment operators on the mine’s roadways.
The estimated U.S. output of construction sand and gravel produced and shipped for consumption in the second quarter of 2016 was 269 Mt, an increase of 6 percent compared with that of the second quarter of 2015, according to statistics from the U.S. Geological Survey (USGS). “The estimated production for consumption in the first six months of 2016 was 443 Mt, an increase of 8 percent compared with that of the same period of 2015,” said Jason Willet, crushed stone commodity specialist.
The U.S. Census Bureau of the Department of Commerce announced that construction spending during August 2016 was estimated at a seasonally adjusted annual rate of $1,142.2 billion, 0.7 percent (±1.5 percent) below the revised July estimate of $1,150.6 billion. The August figure is 0.3 percent (±1.8 percent) below the August 2015 estimate of $1,145.2 billion.
The value of new construction starts in September decreased a slight 2 percent to a seasonally adjusted annual rate of $703.7 billion, according to Dodge Data & Analytics. This follows the 22 percent jump for total construction starts in August, which witnessed the highest monthly pace for construction starts so far in 2016. Highway and bridge construction in September climbed 17 percent.
Dodge Data & Analytics released its 2017 Dodge Construction Outlook, a mainstay in construction industry forecasting and business planning. The report predicts that total U.S. construction starts for 2017 will advance 5 percent to $713 billion, following gains of 11 percent in 2015 and an estimated 1 percent in 2016.
- WTI crude oil futures price
10/28/2016: $48.70/barrels, down $2.15 from week earlier; up $2.64 from year earlier.
- Natural gas futures price
10/28/2016: $3.105/MMBtu, up $0.112 from week earlier; up $0.848 from year earlier.
- WEEKLY COAL PRODUCTION
10/22/2016: 16.462 million tons, up 0.432 million tons from week earlier; down 1.064 million tons from year earlier.
- NATURAL GAS inventories
10/21/2016: 3,909 Bcf, up 73 Bcf from week earlier; up 52 Bcf from year earlier.
- CRUDE OIL INVENTORIES
10/21/2016: 468.2 million barrels, down 0.6 million barrels from week earlier; up 20.2 million barrels from year earlier.
Source: U.S. Energy Information Administration