TOP NEWS
Vulcan Materials
Vulcan Materials Co. announced results for the quarter ended March 31, reporting total revenues of $1.649 billion, versus total revenues of $1.541 billion in the first quarter of 2022, about a 7% increase.
Summit Materials
Summit Materials Inc. announced results for the first quarter ended April 1, reporting net revenue of $407.3 million, versus $392.5 million in the first quarter of 2022, a 3.8% increase.
Martin Marietta Materials
Martin Marietta Materials Inc. announced results for the first quarter ended March 31, reporting total revenues of $1.354.1 billion, versus $1.230.8 in the first quarter of 2022, a 10.0% increase.
USGS STATS
For the fourth quarter of 2022, an estimated 575 million metric tons (Mt) of total construction aggregates was produced and shipped for consumption, a decrease of 7% compared with that of the same period of 2021, according to Jason Christopher Willett, commodity specialist at the U.S. Geological Survey. The estimated production for consumption of construction sand and gravel in the fourth quarter of 2022 decreased in eight of the nine geographic divisions compared with that sold or used in the fourth quarter of 2021.
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, at www.linkedin.com/groups/12717856/.
ECONOMIC INDICATORS
The AVP Pulse Index for May – brought to you by Rock Products and Allen-Villere Partners – ticked up by a strong 1.0%, moving the Index up 1.4% year-over-year (see page 7).
Total construction starts fell 4% in April to a seasonally adjusted annual rate of $1.04 trillion, according to Dodge Construction Network. Highway and bridge starts were up 5% for the month and 20% for the 12 months ending April 2023.
According to the U.S. Census Bureau, construction spending during March 2023 was estimated at a seasonally adjusted annual rate of $1,834.7 billion, 0.3% (±0.5%) above the revised February estimate of $1,829.6 billion. Highway construction was at a seasonally adjusted annual rate of $121.7 billion, 0.1% (±2.6%) below the revised February estimate of $121.8 billion.
MSHA WATCH
The U.S. Department of Labor’s Mine Safety and Health Administration (MSHA) held its first “Stand Down to Save Lives” on May 17 as part of a national campaign to encourage the nation’s mining community to take steps to prevent injuries and illnesses and stop an alarming rise in the number of miners killed on the job in 2023.
ENERGY
WTI CRUDE OIL FUTURES
5/17/2023: $72.83/barrel, up $0.27 from week earlier; down $39.57 from year earlier.
NATURAL GAS
5/17/2023: $2.365/MMBtu, up $0.174 from week earlier; down $5.939 from year earlier.
RETAIL DIESEL
5/15/2023: $3.897/gal., down $0.025 from week earlier; down $1.716 from year ago.
ELECTRICITY
2/20/2023: Average price to industrial customers 8.15 cents/kilowatt hour; up from 7.47 cents/kilowatt hour a year earlier.
Source: U.S. Energy Information Administration