Magnum Energy Inc. Announces Extension to Closing Date of Provost Transaction

Magnum Energy Inc. Announces Extension to Closing Date of Provost Transaction

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Vulcan Materials Company VMC is the largest producer of construction aggregates in the U.S. The company has been witnessing strong aggregates demand onward backed by increase in private construction demand — both residential and non-residential. Pricing momentum remains robust which has translated into expanding profit margins. However, skilled labor shortages and slight slowdown in demand trends in Texas remain the concerns. Investors should also note that earnings estimate for VMC has been mixed for sometime. However, VMC has an impressive earnings history. The building materials company has posted two positive earnings surprise in the past four quarters, with an impressive average surprise of 89.17%. VULCAN MATLS CO Price and EPS Surprise VULCAN MATLS CO Price and EPS Surprise | VULCAN MATLS CO Quote Currently, VMC has a Zacks Rank #3 (Hold), but that could definitely change following Vulcan’ earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below: Earnings: VMC missed on earnings. Our consensus earnings estimate called for EPS of $1.01 /share, and the company reported adjusted earnings of $0.90/ share instead. Investors should note that these figures take out stock option expenses. Revenues: VMC reported revenues of $957 million. This missed our consensus estimate of $1.013 billion. Key Stats to Note: Aggregate shipment increased 3% in the quarter. Stock Price: Shares decreased 3.21% in pre-market trading. Check back later for our full write up on this VMC earnings report later. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report VULCAN MATLS CO (VMC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research View comments
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