Why Construction Materials Provider Vulcan Shares Are Surging Today
Portfolio Pulse from Lekha Gupta
Vulcan Materials Co (NYSE:VMC) shares surged after reporting strong Q4 FY23 results, with revenue of $1.83 billion and adjusted EPS of $1.46, beating consensus estimates. The company saw significant growth in its Aggregates and Asphalt, Concrete, and Calcium segments, with increased gross profits and margins. Vulcan returned $428 million to shareholders, reported a 34% Y/Y increase in operating cash flow, and provided a positive outlook for 2024, expecting net earnings of $1.07 billion-$1.19 billion and adjusted EBITDA of $2.15 billion-$2.30 billion.

February 16, 2024 | 4:44 pm
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Vulcan Materials Co reported strong Q4 FY23 results with revenue and adjusted EPS beating consensus estimates, significant segment growth, and a positive outlook for 2024.
The positive earnings report and optimistic outlook for 2024, including expected earnings growth and strong cash generation, are likely to instill confidence in investors, driving short-term stock price appreciation.
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