TOP NEWS
Vulcan Materials
Vulcan Materials announced results for the quarter and full year ended Dec. 31, 2024. The company said solid operational execution drove margin expansion and its aggregates unit’s profitability growth. “Our aggregates-led business delivered a strong finish to the year. Adjusted EBITDA in the fourth quarter improved 16%, and Adjusted EBITDA margin expanded 370 basis points,” said Tom Hill, Vulcan Materials’ chairman and CEO.
Martin Marietta Minerals
Martin Marietta Materials Inc. reported results for the fourth quarter and year ended Dec. 31, 2024. Fourth quarter revenues were $1,632 billion, up from $1,608 billion for the same quarter in 2023, an increase of 1%. For the full year 2024, revenues were $6,536 billion, versus $6,777 billion in 2023, a decrease of 4%.
Breedon
Breedon Group plc announced the acquisition of Lionmark Construction Companies LLC for an enterprise value of $238 million. Lionmark Construction Companies, located in St. Louis, is one of Missouri’s largest and most diversified privately held companies.
USGS STATS
According to the U.S. Geological Survey (USGS), an estimated 581 million metric tons (Mt) of total construction aggregates was produced and shipped for consumption in the fourth quarter of 2024, a decrease of 6% compared with that in the same period of 2023. The estimated annual output of construction aggregates produced for consumption in 2024 was 2.38 billion metric tons (Gt), a 6% decrease from 2.52 Gt in 2023, according to Jason Christopher Willett, commodity specialist, National Minerals Information Center.
ECONOMIC INDICATORS
The AVP Pulse Index this month dipped 2.2% month-over-month, while increasing 4.2% year-over-year; and 10.5% 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 January 2025 was estimated at a seasonally adjusted annual rate of $2,192.5 billion, 0.2% (±0.7%) below the revised December estimate of $2,196.0 billion. The January figure is 3.3% (±1.3%) above the January 2024 estimate of $2,122.2 billion.
Single-family housing production should register a slight uptick in 2025 as builders contend with conflicting market conditions – policy moves expected to aid the business climate in the areas of regulatory reform and extension of the 2017 tax cuts coupled with tariff and immigration actions that could have an adverse impact on housing costs and supply, according to the National Association of Home Builders (NAHB).
MSHA WATCH
The Mine Safety and Health Administration (MSHA) reported that 10 miner fatalities have occurred between Jan. 3 and March 5 – more than triple the number for the same period in 2024. Accidents classified as Powered Haulage remain the most common with four fatalities, followed by Machinery (two fatalities), and Fall of Face, Rib, Side or Highwall (two fatalities). Four fatalities involved failures of ground or coal rib conditions; four fatalities involved improper maintenance or unsafe operation of equipment; one fatality involved explosives, and another involved not locking and tagging out equipment.
ENERGY
Brent Spot Prices
03/07/25: $72.49/barrel, down $2.27/barrel from week earlier; down $11.80/barrel from year earlier.
Natural Gas Spot Prices
03/10/25: $4.23/million Btu, up $0.428/million Btu from week earlier; up $2.689/million Btu from year earlier.
Retail Diesel
03/03/25: $3.582/gal.; down $0.053 from week earlier; down $0.422/gal. from year earlier.
Electricity
12/20/24: Average price to industrial customers 8.01 cents/kilowatt hour; up from 7.61 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/.