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July 14, 2014
07:00 EDTVMCVulcan Materials downgraded to Sector Perform from Outperform at RBC Capital
RBC Capital downgraded Vulcan and lowered its price target to $70 from $74 due to valuation and expectations for a slowdown in road construction spending.
News For VMC From The Last 14 Days
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August 3, 2015
18:46 EDTVMCVulcan Materials backs FY15 adjusted EBITDA view $775M-$825M
Regarding the company's outlook for 2015, CEO Hill stated, "Severe weather in the first half of the year, particularly in the second quarter, masked improving fundamentals in construction activity. Underlying demand remains strong and we are encouraged by the accelerating momentum in aggregates pricing throughout our markets. As a result, we are reaffirming our expectation for Adjusted EBITDA of $775 to $825 million, driven by strong growth in aggregates gross profit per ton, earnings improvement in our non-aggregates businesses and continuing leverage of our SAG expenses. Through the first half of 2015, same-store aggregates volumes are up 7 percent and total aggregates pricing is up 5 percent. We expect a higher rate of pricing growth in the second half. With respect to second half shipments, a key factor will be the ability of our customers to recover weather-delayed volume from the first half, which can be a challenge in a growing market where scheduled work is compressed into a shorter time period."
18:44 EDTVMCVulcan Materials reports Q2 adjusted EPS 66c, consensus 63c
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