Exhibit 99.1

 

 

February 4, 2016

FOR IMMEDIATE RELEASE

Investor Contact: Mark Warren (205) 298-3220

Media Contact: David Donaldson (205) 298-3220

 

VULCAN ANNOUNCES FOURTH QUARTER 2015 RESULTS

 

EPS from Continuing Operations Increases Sharply to $0.69 per Share

 

Aggregates Volume Up 8% and Price Up 11%

 

 

Birmingham, Alabama – February 4, 2016 – Vulcan Materials Company (NYSE:VMC), the nation’s largest producer of construction aggregates, today announced results for the fourth quarter ending December 31, 2015.

 

The Company’s fourth quarter results demonstrate ongoing strong revenue growth and margin expansion as the gradual recovery in construction activity continues across most of our markets. Gross profit and gross profit margins improved in each of the Aggregates, Asphalt and Concrete segments. In its core Aggregates segment, the Company delivered its tenth consecutive quarter of year-over-year improvements in both shipments and per-ton margins. Same-store aggregates shipments rose 8 percent and same-store freight-adjusted aggregates pricing increased 11 percent from the prior year. Same-store incremental aggregates gross profits equaled 89 percent of incremental freight-adjusted revenues for the quarter – and 77 percent for the year.

 

Tom Hill, President and Chief Executive Officer, said, “Our teams across the Company did a great job serving our customers and running our operations safely and efficiently. Full year 2015 aggregates volume increased 7 percent on a same-store basis in 2015, and we expect a similar level of volume growth in 2016. The pricing environment remains strong as customers see improved backlogs and construction materials suppliers increasingly focus on earning adequate returns on capital deployed. Aggregates pricing increased 7 percent in 2015, and we expect similar growth in 2016. Material margins in our Asphalt and Concrete segments also improved in 2015, and full year gross profit from our non-aggregates segments increased $58 million over the prior year. Adjusted EBITDA was $836 million in 2015, as strong fourth quarter performance led to full year results exceeding expectations. Looking forward, we currently expect 2016 Adjusted EBITDA of between $1.0 and $1.1 billion.”

 


The following information was filed by Vulcan Materials Co (VMC) on Thursday, February 4, 2016 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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