Construction materials company Vulcan Materials (NYSE: VMC) will be announcing earnings results this Wednesday before market open. Here’s what to expect.
Vulcan Materials missed analysts’ revenue expectations last quarter, reporting revenues of $1.91 billion, up 3.2% year on year. It was a disappointing quarter for the company, with full-year EBITDA guidance missing analysts’ expectations. It reported 55.1 million tons shipped, up 2.2% year on year.
Is Vulcan Materials a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Vulcan Materials’s revenue to grow 1.5% year on year, slowing from the 5.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Vulcan Materials has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Vulcan Materials’s peers in the building products segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Valmont delivered year-on-year revenue growth of 6.2%, beating analysts’ expectations by 3%, and Carlisle reported a revenue decline of 4%, falling short of estimates by 1.1%. Valmont traded up 13.9% following the results while Carlisle’s stock price was unchanged.
Read our full analysis of Valmont’s results here and Carlisle’s results here.
There has been positive sentiment among investors in the building products segment, with share prices up 15.1% on average over the last month. Vulcan Materials is up 9.4% during the same time and is heading into earnings with an average analyst price target of $324.32 (compared to the current share price of $292.14).
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