Exhibit 99.1

  

February 14, 2013

FOR IMMEDIATE RELEASE

Investor Contact: Mark Warren (205) 298-3220

Media Contact: David Donaldson (205) 298-3220

 

VULCAN ANNOUNCES FULL YEAR AND

FOURTH QUARTER 2012 EARNINGS

 

Continued Improvement in Aggregates Profitability

Driven by Higher Pricing and Effective Cost Control

 

Birmingham, Alabama – February 14, 2013 – Vulcan Materials Company (NYSE:VMC), the nation’s largest producer of construction aggregates, today announced earnings for 2012.

 

Full Year Highlights

·Adjusted EBITDA increased $59 million on flat revenues.
·Gross profit increased $50 million and gross profit margins improved 210 basis points.
·Aggregates segment gross profit margins improved 270 basis points from the prior year due to lower unit cost of sales and higher pricing.
oAggregates shipments declined 1 percent and pricing increased 2 percent.
oCash gross profit per ton increased 5 percent.
·SAG expenses were $259 million versus $290 million in the prior year.
·Cash earnings were $210 million, an increase of 8 percent from the prior year.
·Gross cash proceeds of $174 million were realized from asset sales.
·The Company retired $135 million of debt as scheduled.

 

Don James, Chairman and Chief Executive Officer, said, “Our full year results demonstrate our employees’ efforts in managing those aspects of the business that are under their control. Despite slightly weaker aggregates shipments, we achieved a 17 percent increase in Adjusted EBITDA, reflecting aggressive actions to reduce costs and to take advantage of pricing opportunities across the markets we serve.”

 

Fourth Quarter 2012 Results Summary

·Fourth quarter EBITDA, including gains on sale of real estate and businesses, restructuring charges and exchange offer costs, was $137 million as compared to $85 million in the prior year. Excluding these items, Adjusted EBITDA was $90 million versus $95 million in the prior year.
·Gross profit increased $5 million, or 7 percent, and gross profit margins improved 90 basis points on slightly lower net sales.
oAggregates segment gross profit increased $2 million and margins improved 40 basis points despite a 3 percent decline in shipments versus the prior year.
oAggregates pricing increased 4 percent versus the prior year.
oVolumes in ready-mixed concrete and cement increased 11 percent and 8 percent, respectively, due to improving levels of private construction.
·Earnings from continuing operations were $0.03 per diluted share versus a loss of $0.20 per diluted share in the prior year.

 


The following information was filed by Vulcan Materials Co (VMC) on Thursday, February 14, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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