Vulcan Materials reiterated its full-year adjusted EBITDA guidance of $2.4 billion to $2.6 billion, even as it flagged nearly $40 million in energy headwinds during the second quarter. CEO Ronnie Pruitt said the company generated $654 million of adjusted EBITDA in the quarter, approximating the prior year's level, while aggregates cash gross profit per ton topped $12 and shipments rose 1 percent. CFO Mary Carlisle noted that through the first six months, Vulcan invested $370 million in capital projects, spent $75 million on a strategic aggregates acquisition, and returned over $500 million to shareholders, including $400 million in share repurchases. The company also finalized divestitures of its California concrete operations and noncore U.S. Virgin Islands assets, and completed the acquisition of an aggregate operation from Brannan Sand & Gravel. On the NAFTA arbitration against Mexico, Pruitt said the tribunal found Mexico's actions arbitrary and unjust but awarded only immaterial damages.
Vulcan Materials CompanyReiterated guidance, stable EBITDA, share buybacks, and acquisitions; energy headwinds offset by operational strength.