Vulcan Materials Company report full-year results
Double-digit growth in revenues in 2019 and double-digit earnings growth expected in 2020
VULCAN Materials Company, the largest producers of construction aggregates in the US, have announced their results for the year ended 31 December 2019. Full year revenues were US$4.9 billion, up 12% compared with the prior year, net earnings were $618 million, an increase of 20%, and adjusted EBITDA increased 12% to $1.27 billion. At year end, total debt was $2.8 billion.
Tom Hill, Vulcan’s chairman and chief executive officer, said: ‘2019 marks another year of strong earnings growth and cash generation. We are particularly proud of our people who worked hard to achieve these results while ensuring another year of world-class safety performance.
‘Widespread improvements in pricing helped drive 8% growth in our industry-leading unit profitability and double-digit growth in adjusted EBITDA; a strong result despite some higher than expected costs in the fourth quarter.
‘Industry leadership in safety and pace-setting unit margins are both evidence of our strong and healthy business. Going forward, our compounding unit margins and our disciplined capital allocation position us to increase our cash flows and improve our return on invested capital again in 2020.
‘Looking ahead, demand in our markets will continue to benefit from higher levels of highway funding and continued growth in residential and non-residential markets. For the full year 2020, we expect earnings from continuing operations between $5.20 and $5.80 per diluted share with adjusted EBITDA between $1.385 and $1.485 billion.’