Vulcan Materials Company (VMC), headquartered in Birmingham, Alabama, produces and supplies construction aggregates. Valued at $33.83 billion by market cap, the company’s principal product lines are aggregates, asphalt mix and concrete, and cement. The leading construction aggregates producer is expected to announce its fiscal second-quarter earnings for 2024 on Thursday, Aug. 1.
Ahead of the event, analysts expect VMC to report a profit of $2.53 per share on a diluted basis, up 10.5% from $2.29 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
For the full year, analysts expect VMC to report EPS of $8.42, up 20.3% from $7 in fiscal 2023.
VMC stock has underperformed the S&P 500’s ($SPX) 17.6% gains on a YTD basis, with shares up 14.1% during this period. However, it outshined the S&P 500 Materials Sector SPDR’s (XLB) 7.9% gains over the same time frame.
On May 2, VMC reported its Q1 results. Its adjusted EPS was $0.80, exceeding Wall Street expectations of $0.76. The company’s revenue came in at $1.55 billion, topping the Wall Street forecasts of $1.53 billion. VMC reaffirmed its full-year outlook with adjusted EBITDA expected between $2.15 billion and $2.30 billion to mark the fourth consecutive year of double-digit growth. VMC shares closed up more than 1% on the day the results were released but have been on a downtrend since then.
Analysts’ consensus opinion on VMC stock is bullish, with a “Moderate Buy” rating overall. Out of 18 analysts covering the stock, 12 advise a “Strong Buy” rating, one suggests a “Moderate Buy” rating, and five give a “Hold.” The average analyst price target for VMC is $291, indicating a potential upside of 13.8% from the current levels.
On the date of publication, Dipanjan Banchur did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
