TOP NEWS
Vulcan Materials
Vulcan Materials Co. announced results for the quarter ended March 31, reporting total revenues of $1,635 billion, versus $1,546 billion in the first quarter of 2024. Aggregates segment gross profit increased 18% to $357 million ($7.48 per ton), and gross profit margin expanded 320 basis points to 26.7%.
Knife River Corp.
Knife River announced financial results for the first quarter ended March 31. The company reported consolidated revenue of $353.5 million, a 7% increase from the prior-year period, primarily driven by a $14.6 million increase to its contracting services revenues and price increases on asphalt, aggregates and ready-mix.
Martin Marietta Materials
Martin Marietta Materials Inc. announced results for the first quarter ended March 31, reporting revenues of $1,353 billion, versus $1,251 billion in the first quarter of 2024, an 8% increase. First-quarter aggregates shipments increased 6.6% to 39.0 million tons due to contributions from acquisitions, partially offset by challenging winter weather in January and February.
USGS STATS
According to the U.S. Geological Survey (USGS), the estimated output of construction sand and gravel produced for consumption in the fourth quarter of 2024 was 216 million metric tons (Mt), a decrease of 8% compared with that in the same period of 2023. The estimated output of construction sand and gravel produced for consumption in 2024 was 900 Mt, a decrease of 7% from 967 Mt in 2023, according to Jason Christopher Willett, commodity specialist, National Minerals Information Center.
ECONOMIC INDICATORS
The AVP Pulse Index this month dropped 0.2% month-over-month, while increasing 3.6% year-over-year; and 9.1% 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 March 2025 was estimated at a seasonally adjusted annual rate of $2,196.1 billion, 0.5% (±0.8%) below the revised February estimate of $2,206.9 billion.
Total construction starts were up 3% in March to a seasonally adjusted annual rate of $1.1 trillion, according to Dodge Construction Network. Nonresidential building starts grew 6%, residential starts decreased 5%, while nonbuilding starts increased 9%. Highway and bridge starts decreased 10%.
MSHA WATCH
As of April 1 of this year, 2,201 injuries were reported to the Mine Safety and Health Administration (MSHA) since Oct. 1, 2024. Fourteen were fatal injuries. For the remaining injuries, 1,523 were non-fatal and resulted in days lost or restricted duty, 27 resulted in a permanent disability, and 637 resulted in no days lost or restricted duty.
ENERGY
Brent Spot Prices
5/9/2025: $64.26/barrel, up $2.69/barrel from week earlier; down $19.13/barrel from year earlier.
Natural Gas Spot Prices
5/12/2025: $3.10/million Btu, down $0.071/million Btu from week earlier; up $1.077/million Btu from year earlier.
Retail Diesel
5/12/2025: $3.476/gal.; down $0.021 from week earlier; down $0.372/gal. from year earlier.
Electricity
2/20/2025: Average price to industrial customers 8.23 cents/kilowatt hour; up from 7.80 cents/kilowatt hour from 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, at www.linkedin.com/groups/12717856/.