BIRMINGHAM, Ala. (AP) — BIRMINGHAM, Ala. (AP) — Vulcan Materials Co. (VMC) on Thursday reported first-quarter profit of $120.7 million.
On a per-share basis, the Birmingham, Alabama-based company said it had net income of 90 cents. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 95 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.
The construction materials company posted revenue of $1.65 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $1.58 billion.
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