TOP NEWS
Cemex
Cemex reported its fourth quarter and full-year 2024 results, with net income of $939 million, a record in the company’s recent history. Net sales decreased by 1% to $16,200 million in 2024 and remained flat at $3,811 million in the fourth quarter. Cemex’s operations in the United States reported sales of $5,194 million in 2024, a decrease of 3%, and $1,233 million in the fourth quarter, also a 3% decline.
United States Lime & Minerals
United States Lime & Minerals Inc. reported fourth quarter and full-year 2024 results. The company’s revenues in the fourth quarter 2024 were $80.1 million, compared to $65.7 million in the fourth quarter 2023, an increase of $14.4 million, or 21.9%. Lime and limestone revenues were $79.8 million in the fourth quarter 2024, compared to $65.4 million in the fourth quarter 2023, an increase of $14.4 million, or 22.0%.
Eagle Materials
Revenue in the Heavy Materials sector, which includes Cement, Concrete and Aggregates, as well as Joint Venture and intersegment Cement revenue, was down 4% to $351.8 million. Heavy Materials operating earnings decreased 20% to $85.4 million. Both declines resulted from lower sales volume partially offset by higher sales prices.
USGS STATS
According to the U.S. Geological Survey (USGS), in 2024, an estimated 16 million tons of quicklime and hydrated lime was produced (excluding independent commercial hydrators), valued at about $3.2 billion. Lime was produced by 26 companies – 17 with commercial sales and nine that produced lime strictly for internal use (for example, sugar companies). These companies had 73 primary lime plants (plants operating quicklime kilns) in 28 states and Puerto Rico. Of the 26 companies, five operated only hydrating plants in nine states.
ECONOMIC INDICATORS
The AVP Pulse Index this month rose 1.5% month-over-month, while increasing 5.6% year-over-year; and 12.9% over the past 36 months. The proprietary AVP Pulse Index – a joint effort between mergers and acquisition advisors Allen-Villere Partners and Rock Products – illustrates the health of the industry in one single trend line, using relevant data that is updated monthly or quarterly.
According to the U.S. Census Bureau, construction spending during December 2024 was estimated at a seasonally adjusted annual rate of $2,192.2 billion, 0.5% (± 0.8%) above the revised November estimate of $2,180.3 billion. The December figure is 4.3% (±1.3%) above the December 2023 estimate.
Sales of newly built, single-family homes in December increased 3.6% to a 698,000 seasonally adjusted annual rate from an upwardly revised November number, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The pace of new home sales in December was up 6.7% compared to a year earlier.
MSHA UPDATE
MSHA issued a Final Report for an August 22, 2024, fatality. Brian Derby, a 67-year-old excavator operator with three years of mining experience at Onyx Sterling Pit, Mass., died after the excavator he was operating became engulfed in large rocks from a highwall failure. The accident occurred because the mine operator did not: 1) take down or support hazardous ground conditions, 2) use mining methods to maintain highwall stability, 3) designate persons experienced in examining and testing for loose ground to conduct ground condition examinations, 4) conduct a workplace examination, and 5) develop and implement a written safety program for surface mobile equipment.
ENERGY
Brent Spot Prices
1/31/2025: $77.11/barrel, down $1.60/barrel from week earlier; down $2.43/barrel from year earlier.
Natural Gas Spot Prices
2/03/2025: $3.30/million Btu, down $0.412/million Btu from week earlier; up $1.181/million Btu from year earlier.
Retail Diesel
2/03/2025: $3.660/gal.; up $0.001 from week earlier; down $0.239/gal. from year earlier.
Electricity
11/20/2024: Average price to industrial customers 7.89 cents/kilowatt hour; up from 7.79 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/.