FIRST LOOK
TOP NEWS
Vulcan Materials
Vulcan Materials Co. announced results for the quarter and year ended Dec. 31, 2023, reporting total revenues of $1.83 billion in the fourth quarter versus $1.73 billion in the fourth quarter of 2022; and $7.78 billion for full-year 2023 versus $7.32 billion for full-year 2022.
Summit Materials
Summit Materials Inc. announced results for the fourth quarter and full year ended Dec. 30, 2023. Net revenue increased $220.7 million, or 9.9%, in 2023 to $2.4 billion, as strong pricing across all lines of business and contributions from acquisitions more than offset lower volumes and the impact of divestitures.
Martin Marietta
Martin Marietta Materials Inc. reported results for the fourth quarter and year ended Dec. 31, 2023. For the fourth quarter, total revenues were $1.61 billion versus $1.48 billon for the fourth quarter of 2022, an 8.9% increase. For full-year 2023, the company is reporting total revenues of $6.78 billion versus $6.16 billion in 2022, a 10% improvement.
USGS STATS
The estimated U.S. output of construction sand and gravel sold or used in the third quarter of 2023 was 275 million metric tons (Mt), a decrease of 4% compared with that in the third quarter of 2022. The estimated production for consumption in the first nine months of 2023 was 698 Mt, a decrease of 5% compared with that in the same period of 2022, according to Jason Christopher Willett, commodity specialist, National Minerals Information Center, U.S. Geological Survey (USGS).
ECONOMIC INDICATORS
The AVP Pulse Index for February – brought to you by Rock Products and Allen-Villere Partners – increased 1.2% month over month. The Index is up 5.6% year over year and 16.5% over the past 36 months.
The Dodge Momentum Index (DMI), issued by Dodge Construction Network (DCN), rose 0.1% in January to 184.1 (2000=100) from the revised December reading of 183.9.
According to the U.S. Census Bureau, Construction spending during December 2023 was estimated at a seasonally adjusted annual rate of $2,096.0 billion, 0.9% (± 0.8%) above the revised November estimate of $2,078.3 billion. The December figure is 13.9% (±1.5%) above the December 2022 estimate of $1,840.9 billion.
MSHA WATCH
MSHA’s impact inspections in 2023 identified 2,739 violations, including 764 significant and substantial and 56 unwarrantable failure findings. An S&S violation is one that is reasonably likely to cause a reasonably serious injury or illness. Violations designated as unwarrantable failures occur when an inspector finds aggravated conduct that constitutes more than ordinary negligence.
The agency conducts impact inspections at mines that merit increased agency attention and enforcement due to poor compliance history; previous accidents, injuries and illnesses; and other compliance concerns.
ENERGY
WTI Crude Oil Futures
2/15/2024: $78.03/barrel, up $1.81 from week earlier, down $0.56 from year earlier.
Natural Gas
2/15/2024: $1.581/MMBtu, down $0.336 from week earlier; down $0.890 from year earlier.
Retail Diesel
2/12/2024: $4.109/gal., up $0.056 from week earlier; down $ 0.198 from year earlier.
Electricity
11/20/2023: Average price to industrial customers 7.90 cents/kilowatt hour; down from 8.14 cents/kilowatt hour from 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, at www.linkedin.com/groups/12717856/.