TOP NEWS
Vulcan Materials
Vulcan Materials Co. announced third-quarter total revenues of $1.419 billion, up from $1.240 billion in 2018; and year-to-date total revenues of $3.743 billion, up from $3.295 billion in 2018.
Summit Materials
On a year-to-date basis through Sept. 28, Summit’s net revenue increased 4.1% over the comparable 2018 period. Adjusted EBITDA increased 8.8% to $340.4 million for the first nine months of 2019 as compared to $312.9 million for the same period in 2018.
Martin Marietta Materials
Martin Marietta Materials Inc. reported results for the third quarter ended Sept. 30, 2019. The company established new records, achieving more than $1.420 billion in total revenues and more than $421 million in gross profit.
MSHA WATCH
For the fifth consecutive year, none of the nation’s more than 13,000 mining operations met the criteria for a Pattern of Violations (POV), the Mine Safety and Health Administration (MSHA) announced. The screening period started on Sept. 1, 2018, and ended on Aug. 31, 2019. The POV provision in the Federal Mine Safety and Health Act of 1977 is one of MSHA’s toughest enforcement tools. MSHA reserves the provision for mines that pose the greatest risk to miners’ health and safety, particularly those with chronic violation records.
USGS STATS
An estimated 406 Mt of crushed stone was produced and shipped for consumption in the United States in the second quarter of 2019, an increase of 4% compared with that of the prior-year period. The five leading states, in descending order of production for consumption, were Texas, Pennsylvania, Florida, Missouri and North Carolina, according to Jason Willett, crushed stone commodity specialist for the U.S. Geological Survey.
ECONOMIC INDICATORS
Construction spending during September 2019 was estimated at a seasonally adjusted annual rate of $1,293.6 billion, 0.5% (±1.0%) above the revised August estimate of $1,287.1 billion, according to the U.S. Census Bureau. The September figure is 2.0% (±1.8%) below the September 2018 estimate of $1,319.7 billion. During the first nine months of this year, construction spending amounted to $968.7 billion, 2.2% (±1.2%) below the $990.2 billion for the same period in 2018.
“This month we take a look at the monthly price movements in sand and gravel,” said Deni Koenhemsi, senior economist at IHS Markit.
ENERGY
- WTI Crude Oil Futures Price:11/14/2019: $56.77/barrel, down $0.38 from week earlier; up $0.52 from year earlier.
- Natural Gas Futures Price:11/14/2019: $2.647/MMBtu, down $0.125 from week earlier; down $2.190 from year earlier.
- Retail Gasoline:11/4/2019: $2.605/gal., up $0.010 from week earlier; down $0.071 from year earlier.
- Retail Diesel:11/4/2019: $3.062/gal., up $0.011 from week earlier; down $0.244 from year earlier.
- Electricity:8/20/2019: Average price to industrial customers 7.44 cents/kilowatt hour; up from 7.25 cents/kilowatt hour from year earlier.
Source: U.S. Energy Information Administration