Birmingham-based Vulcan Materials Co. saw a 7 percent year-over-year earnings growth during the second quarter, company officials announced on August 4.
“Our second quarter results demonstrate the resiliency of our best in class aggregates-led business and reflect the proactive response by our employees to the COVID-19 pandemic,” said Chairman and CEO Tom Hill in announcing the quarterly results. “Our operational execution was integral to widespread gains in unit profitability, despite some disruptions to construction activity during the quarter. I am proud of our employees’ ability to quickly adapt to the necessary additional safety protocols we have put in place in this environment, while maintaining their focus on operating safely and positioning Vulcan for continued success.”
Earnings were $211 million, or $1.58 per diluted share, and the company saw increases in every segment, Hill said.
Looking ahead, Hill said, “Certain leading indicators of demand have shown signs of improvement, and our quote activity remains robust. However, our visibility beyond the near-term remains restricted due to the evolving effects of the pandemic.”
Because of uncertainties, the company did not reinstate earnings guidance.
Vulcan Materials is the nation’s largest producer of construction aggregates.