May 4, 2021 – Vulcan Materials came out of the gate strong in the first quarter of 2021, reporting an Aggregates segment sales increase of 3% and a gross profit increase of 15%. Management expectations for the remainder of 2021 include the following updates:
- Aggregates shipments to increase between 1% and 4% compared to 2020.
- Earnings from continuing operations of between $4.85 and $5.30 per diluted share, excluding land sale gain.
- Adjusted EBITDA of between $1.380 and $1.460 billion, excluding land sale gain.
Tom Hill, chairman and chief executive officer, concluded, “We remain focused on factors within our control, including pricing and cost actions, both of which will drive further improvement in our industry-leading unit margins. Our operating plans are underpinned by four strategic disciplines (Commercial and Operational Excellence, Logistics Innovation and Strategic Sourcing), a healthy balance sheet and the engagement of our people. Our performance clearly demonstrates that a balanced approach to growth, focusing on organic investments, acquisitions, and greenfield developments is the best way to create value for our shareholders.”