Vulcan Materials Co (NYSE:VMC) shares are trading higher after the company reported fourth-quarter FY23 results.
Revenue of $1.83 billion was in line with the consensus. Gross profit rose to $472 million from $350 million a year ago. Adjusted EPS of $1.46 beat the consensus of $1.39.
In Aggregates segment, segment gross profit increased 30% to $424 million ($7.67 per ton), margin expanded 400 basis points, and cash gross profit improved to $9.92 per ton, led by continued pricing momentum and moderating inflationary pressures.
In the …
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