Rock Products

SEP 2018

Rock Products is the aggregates industry's leading source for market analysis and technology solutions, delivering critical content focusing on aggregates-processing equipment; operational efficiencies; management best practices; comprehensive market

Issue link:

Contents of this Issue


Page 7 of 61

6 • ROCK products • September 2018 IN THE KNOW CST Industries | 903 E 104th Street, Suite 900 | Kansas City, MO 64131 | 844-44-TANKS FLAT-PANEL JACK-BUILT STORAGE SOLUTION FULL LINE PRODUCT PORTFOLIO TO OFFER THE RIGHT SOLUTION, EVERY TIME CST is the only tank manufacturer in the world that provides a flat-panel jack-built tank, a chime panel scaffold built tank and factory welded tank designs, all capable of safely and economically being installed on every diverse site imaginable. World-Class Coatings with OptiBond TM Coating Process 125 Years of Experience EMR Rate of .68 350,000 Installations in over 125 Countries W O R L D R E C O G N I Z E D L E A D E R I N D R Y B U L K S T O R A G E TECTANK CP ™ WELDED Optimized Design – Reduced Hardware Required/Reduced Penetration Points Industry Leading Gasket – Leak Proof Design Heavy Duty Jacking System – Proof Load Tested and PE Stamped Preconfigured Models Available – Lead Time Within 10 Weeks of Order CST OptiBond™ Proprietary Coating – Ensures Best Quality Available Faster Construction Time – 20% Faster Than Chime, 30% Faster Than Welded ¨ TECTANK FP ® Vulcan Materials Co. announced results for the second quarter ended June 30. Secon d qu ar- ter net earnings were $160 mil- lion. Earnings from continuing operations of $160 million compared favorably to $112 million in the pri- or-year period. The company reported 11 percent growth in gross profit led by a 13 percent increase in its core Aggre- gates segment. Aggregates shipments increased 15 percent (11 percent on a same-store basis) and aggregates aver- age selling price, adjusted for mix, rose 3 percent over the prior year. A 30 percent increase in diesel cost per gal. lowered Aggregates segment gross profit by $7 million. Despite this headwind, second quarter Aggregates segment gross profit increased to $283 million and cash gross profit, on a same-store basis, was $6.55 per ton. Year-to-date, the flow-through rate on same-store incremental segment sales excluding freight and delivery was 43 percent, or 56 percent excluding the impact of higher diesel fuel costs. Tom Hill, chairman and chief execu- tive officer, said, "We remain on track with our full-year expectations. Vul- can-served markets are experiencing stronger growth in demand than other markets, and higher public funding for transportation infrastructure is now converting to higher shipments of aggregates. Apart from geographic mix impacts, our pricing momentum continues to strengthen, including in our backlogged work. Our operating disciplines remain strong, and mar- gins should continue to improve as we turn the corner on costs related to last year's storms. "We expect the strong aggregates ship- ment growth seen in the second quarter to continue for the balance of the year. We now project full year same-store shipment growth of between 7 and 9 FAST FACT The company reported 11 percent growth in gross profit led by a 13 per- cent increase in its core Aggregates segment. Vulcan's Aggregates Division Paces Strong Quarter Tom Hill

Articles in this issue

Links on this page

Archives of this issue

view archives of Rock Products - SEP 2018