TOP NEWS
Martin Marietta Materials
Martin Marietta Materials Inc. reported results for the first quarter ended March 31. Total revenues were $982.4 million versus $958.2 million in the first quarter of 2020. The company also announced that it acquired Minnesota-based Tiller Corp.
Vulcan Materials
Vulcan Materials Co. announced results for the quarter ended March 31. First-quarter total revenues were $1.068 billion, versus $1.049 billion in the first quarter of 2020. Net earnings were $161 million. Trailing 12-month totals were $4.876 billion versus $4.982 billion.
U.S. Concrete
U.S. Concrete Inc. announced results for the quarter ended March 31, noting consolidated revenue was $285.7 million, a decrease of $48.7 million, or 14.6%, compared to the prior year first quarter. Aggressive cost-containment measures, operating efficiencies and growth from the aggregate products segment helped to mitigate the impact on operating income from lower revenue.
MSHA WATCH
The Mine Safety and Health Administration reported that on April 22, a miner at Broadfoot Pit #2, Buffalo, Neb., was fatally injured when leaving the mine site in his personal pickup truck. The manual swing barrier gate was partially closed. A gate pole entered the truck’s windshield as the pickup truck approached, striking the victim and causing fatal injuries. This is the ninth fatality reported in 2021, and the fifth classified as “Powered Haulage.”
USGS STATS
An estimated 364 million metric tons of crushed stone was produced and shipped for consumption in the fourth quarter of 2020, a slight increase compared with that of the same period of 2019. The estimated annual output of crushed stone produced for consumption in 2020 was 1.46 billion metric tons, a slight decrease compared with that of 2019, according to Jason Willett, commodity specialist for the U.S. Geological Survey.
ECONOMIC INDICATORS
- Total construction starts fell 2% in April to a seasonally adjusted annual rate of $853.5 billion, according to Dodge Data & Analytics. Single-family construction posted a sizeable decline following months of strong activity, while nonresidential building and nonbuilding starts both gained. Highways rose slightly higher.
- The U.S. Census Bureau announced that construction spending during March 2021 was estimated at a seasonally adjusted annual rate of $1,513.1 billion, 0.2% (±0.8%) above the revised February estimate of $1,509.9 billion. The March figure is 5.3% (±1.0%) above the March 2020 estimate of $1,436.7 billion.
- The Dodge Momentum Index posted an 8.6% gain in April, climbing to 162.4 (2000=100) from the revised reading of 149.5 in March. The Index hit a 12-year high led by institutional planning.
ENERGY
- WTI Crude Oil Futures 5/17/2021: $66.27/barrel, up $1.35 from week earlier; up $36.84 from year earlier.
- Natural Gas Futures 5/17/2021: $3.109/MMBtu, up $0.177 from week earlier; up $1.463 from year earlier.
- Retail Diesel 5/22/2021: $3.249/gal., up $0.063 from week earlier; up $0.863 from year earlier.
- Electricity 2/20/2021: Average price to industrial customers 8.15 cents/kilowatt hour; up from from 6.41 cents/kilowatt hour a year earlier.
Source: U.S. Energy Information Administration