TOP NEWS
Martin Marietta Materials
Martin Marietta Materials reported results for the third quarter ended Sept. 30, noting products and services revenues of $1.680 billion versus $1.463 billion over the same period last year, an increase of 14.9%. Building Materials generated record products and services revenues.
Summit Materials
Summit Materials Inc. announced results for the third quarter ended Oct. 1. Net Revenue increased $23.8 million, or 3.6% in the third quarter to $686.0 million, due to increases in average sales prices across all lines of business that more than offset the impact of divestitures.
Vulcan Materials
Vulcan Materials Co. announced results for the quarter ended Sept. 30, reporting total revenues of $2.088 billion versus $1.517 billion in the third quarter of 2021. Year-to-date, the company is reporting total revenues of $5.583 billion versus $3.946 billion over the same period in 2021.
USGS STATS
The estimated U.S. output of construction sand and gravel produced and shipped for consumption in the second quarter of 2022 was 274 Mt, essentially unchanged compared with that of the second quarter of 2020, according to Jason Christopher Willett, commodity specialist, National Minerals Information Center, U.S. Geological Survey. The five leading states, in descending order of production for consumption, were California, Texas, Arizona, Minnesota and Washington.
ECONOMIC INDICATORS
The U.S. Census Bureau announced that total construction spending during September 2022 was estimated at a seasonally adjusted annual rate of $1,811.1 billion, 0.2% (±1.0%) above the revised August estimate of $1,807.0 billion.
Total construction starts rose 8% in October to a seasonally adjusted annual rate of $1.12 trillion, according to Dodge Construction Network. In October, nonresidential building starts gained 9%, and nonbuilding starts rose 26%; however, residential starts fell by 3%. Highway and bridge starts rose a startling 57%.
The 2023 Dodge Construction Outlook forecast predicts that total U.S. construction starts will be unchanged in 2023 at $1.08 trillion. When adjusted for inflation total construction starts will dip 3%.
MSHA WATCH
The Mine Safety and Health Administration (MSHA) reported that on Oct. 7, a mechanic at a construction sand and gravel operation in Providence, R.I., was fatally injured when he was engulfed in material after he entered an air separator to clear a blockage; and on Oct. 1, a miner at Grafton Quarry, Rensselaer, N.Y., died while using a crane to remove a haul truck engine. These are the 23rd and 24th fatalities reported in 2022.
ENERGY
WTI CRUDE OIL FUTURES
11/23/2022: $77.94/barrel, down $7.65 from week earlier; down $0.56 from year earlier.
RETAIL DIESEL
11/21/2022: $5.233/gal., down $0.080 from week earlier; up $1.509 from year earlier.
ELECTRICITY
9/20/2022: Average price to industrial customers 9.34 cents/kilowatt hour; up from 7.61 cents/kilowatt hour a year earlier.
Source: U.S. Energy Information Administration
WOMEN IN AGGREGATES
Women in Aggregates is a new group dedicated to supporting women working in the aggregates industry. The Mission Statement of the group is: “To create a supportive space for women that fosters leadership growth, networking opportunities and advocacy of the aggregate industry.” Membership in Women in Aggregates is open to any woman working in, or working in support of, the aggregates industry, including producers, manufacturers and distributors; and marketing, advertising or public relations professionals. Interested parties can go to www.womeninaggregates.com to join the mailing list and to stay apprised of future developments, meetings, events and other communications from the group. There is also a LinkedIn discussion page.