Vulcan Reports Excellent 2021 Results
Vulcan Materials Co. announced results for the quarter ended Dec. 31, 2021. The company is reporting that total revenues increased 37% to $1.606 billion, driven by the addition of U.S. Concrete (USCR) operations as well as strong growth in the company’s legacy aggregates business. For the full year 2021, the company is reporting that total revenues increased 14% to $5.6 billion.
CEMEX U.S. Sales Increase in 2021
CEMEX, S.A.B. de C.V. reported strong results for the full year 2021, posting a net sales increase of 14% to $14.55 billion in 2021, and 3% to $3.62 billion in the fourth quarter. CEMEX’s operations in the United States reported net sales of $4.36 billion in 2021, an increase of 9%, and $1.09 billion in the fourth quarter, an increase of 8%.
Martin Marietta Ends 2021 Strong
Martin Marietta Materials Inc. reported results for the fourth quarter and year ended Dec. 31, 2021. The company is reporting total fourth-quarter 2021 revenue of $1.405 billion, versus $1.111 billion in 2020. The company is also reporting full-year 2021 revenue of $ 5.085 billion, versus $4.432 billion in 2020.
The Mine Safety and Health Administration (MSHA) reported the first fatality of 2022. On Jan. 7, a 49-year-old front-end loader operator with 15 years of mining experience died at Arcosa’s Fayette County, Pa., operation when a large rock fell from the mine roof, crushing the cab of the front-end loader. When the accident occurred, the victim was loading material from a recently blasted shot.
The U.S. Geological Survey – in its just-released Mineral Commodity Summaries 2022 report – estimates that 2021 total aggregates production will come in at approximately 2.5 billion metric tons per year (Gt), more than a 3% increase over 2020; with an additional 204 million metric tons (Mt) coming from the cement, gypsum, lime and industrial sand sectors. The Mineral Commodity Summaries 2022 report provides an early estimation of 2021 production totals ahead of official fourth quarter and year-end reports from the agency.
Total construction starts increased 4% in January to a seasonally adjusted annual rate of $923.4 billion, according to Dodge Construction Network. Nonresidential building starts increased 4%, and nonbuilding starts rose 18%. Residential starts fell 1%.
The Dodge Momentum Index declined 7% in January to a four-month low of 152.9 (2000=100), from the revised December reading of 163.7. The Momentum Index, issued by Dodge Construction Network, is a monthly measure of the initial report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.
The U.S. Census Bureau announced that construction spending during December 2021 was estimated at a seasonally adjusted annual rate of $1,639.9 billion, 0.2% (± 0.8%) above the revised November estimate of $1,636.5 billion. The December figure is 9.0% (±1.0%) above the December 2020 estimate of $1,504.2 billion.
WTI CRUDE OIL FUTURES
2/24/2022: $92.81/barrel, up $1.05 from week earlier; up $29.59 from year earlier.
NATURAL GAS FUTURES
2/24/2022: $4.568/MMBtu, up $0.082 from week earlier; up $1.714 from year earlier.
2/21/2022: $4.055/gal., up $0.036 from week earlier; up $1.082 from a year earlier.
11/20/2021: Average price to industrial customers 7.47 cents/kilowatt hour; up from 6.49 cents/kilowatt hour a year earlier.
Source: U.S. Energy Information Administration