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Vulcan (VMC) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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Vulcan Materials (VMC - Free Report) reported $2.11 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 8.1%. EPS of $2.29 for the same period compares to $1.53 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.06 billion, representing a surprise of +2.47%. The company delivered an EPS surprise of +19.90%, with the consensus EPS estimate being $1.91.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Vulcan performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average unit sales price per ton - Aggregates (freight adjusted): $18.69 compared to the $18.68 average estimate based on four analysts.
Unit shipments - Aggregates: 63400 KTon compared to the 61560.38 KTon average estimate based on four analysts.
Unit shipments - Asphalt mix: 4000 KTon versus 3427.67 KTon estimated by three analysts on average.
Unit shipments - Ready-mixed concrete: 2100 KCuYd versus the three-analyst average estimate of 2442.36 KCuYd.
Average unit sales price per ton - Asphalt mix: $75.52 versus the three-analyst average estimate of $73.84.
Average unit sales price per cubic yard - Ready-mixed concrete: $163.82 compared to the $159.23 average estimate based on three analysts.
Net sales- Asphalt: $337.40 million versus the five-analyst average estimate of $285.68 million. The reported number represents a year-over-year change of +22.8%.
Net sales- Aggregates: $1.58 billion versus $1.55 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +12.6% change.
Net sales- Calcium: $2.40 million versus the five-analyst average estimate of $1.63 million. The reported number represents a year-over-year change of +71.4%.
Net sales- Concrete: $343.50 million versus $382.17 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -18.7% change.
Net sales- Aggregates intersegment sales: -$148.80 million versus -$144.12 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +1.9% change.
Gross profit- Aggregates: $498.60 million versus $471.54 million estimated by five analysts on average.
Shares of Vulcan have returned +1.1% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Vulcan (VMC) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Vulcan Materials (VMC - Free Report) reported $2.11 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 8.1%. EPS of $2.29 for the same period compares to $1.53 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.06 billion, representing a surprise of +2.47%. The company delivered an EPS surprise of +19.90%, with the consensus EPS estimate being $1.91.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Vulcan performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Average unit sales price per ton - Aggregates (freight adjusted): $18.69 compared to the $18.68 average estimate based on four analysts.
- Unit shipments - Aggregates: 63400 KTon compared to the 61560.38 KTon average estimate based on four analysts.
- Unit shipments - Asphalt mix: 4000 KTon versus 3427.67 KTon estimated by three analysts on average.
- Unit shipments - Ready-mixed concrete: 2100 KCuYd versus the three-analyst average estimate of 2442.36 KCuYd.
- Average unit sales price per ton - Asphalt mix: $75.52 versus the three-analyst average estimate of $73.84.
- Average unit sales price per cubic yard - Ready-mixed concrete: $163.82 compared to the $159.23 average estimate based on three analysts.
- Net sales- Asphalt: $337.40 million versus the five-analyst average estimate of $285.68 million. The reported number represents a year-over-year change of +22.8%.
- Net sales- Aggregates: $1.58 billion versus $1.55 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +12.6% change.
- Net sales- Calcium: $2.40 million versus the five-analyst average estimate of $1.63 million. The reported number represents a year-over-year change of +71.4%.
- Net sales- Concrete: $343.50 million versus $382.17 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -18.7% change.
- Net sales- Aggregates intersegment sales: -$148.80 million versus -$144.12 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +1.9% change.
- Gross profit- Aggregates: $498.60 million versus $471.54 million estimated by five analysts on average.
View all Key Company Metrics for Vulcan here>>>Shares of Vulcan have returned +1.1% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.