Rock Products

MAR 2013

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 9 of 99

IN THE KNOW Vulcan Sees Profit Go Up Fourth quarter EBITDA, including gains on sale of real es��� tate and businesses, restructuring charges and exchange offer costs, was $137 million as compared to $85 million in the prior year. Excluding these items, Adjusted EBITDA was $90 million versus $95 million in the prior year. The com��� pany also notes that in the fourth quarter: n Gross profit increased $5 million, or 7 percent, and gross profit margins improved 90 basis points on slightly lower net sales. n Aggregates segment gross profit increased $2 million and margins improved 40 basis points despite a 3 percent decline in shipments versus the prior year. n Aggregates pricing increased 4 percent versus the prior year. n Volumes in ready���mixed concrete and cement increased 11 percent and 8 percent, respectively, due to improving levels of private construction. n Earnings from continuing operations were $0.03 per diluted share versus a loss of $0.20 per diluted share in the prior year. FAST FACT PRODUCER NEWS Vulcan Materials Co. announced earnings for 2012. The company reported: n Adjusted EBITDA increased $59 million on flat revenues. n Gross profit increased $50 million and gross profit margins improved 210 basis points. n Aggregates segment gross profit margins improved 270 basis points from the prior year due to lower unit cost of sales and higher pricing. n Aggregates shipments declined 1 percent and pricing increased 2 percent. n Cash gross profit per ton increased 5 percent. n SAG expenses were $259 million versus $290 million in the prior year. n Cash earnings were $210 million, an increase of 8 percent from the prior year. n Gross cash proceeds of $174 million were realized from asset sales. n The company retired $135 million of debt as scheduled. Don James, chairman and chief executive officer, said, ���Our full���year results demonstrate our employees��� efforts in managing those aspects of the business that are under their control. Despite slightly weaker aggregates shipments, we achieved a 17 percent increase in Adjusted EBITDA, reflect��� ing aggressive actions to reduce costs and to take advan��� tage of pricing opportunities across the markets we serve.��� Vulcan announced full-year and fourth quarter 2012 earnings, reporting continued improvement in aggregates profitability. Aggregates segment gross profit increased $2 million from the prior year���s fourth quarter and gross profit margin ex��� panded due in part to a 4 percent increase in pricing and despite a 3 percent decline in aggregates shipments. Aggre��� gates shipments in Florida, North Carolina, Texas and Ari��� zona showed strength, each increasing more than 10 percent versus the prior year. Terex MPS Not Affected By Fayat Transaction FAST FACT MANUFACTURER NEWS The recent announcement of certain Terex Roadbuilding product lines being sold to Fayat, and changes in the Road��� building line manufactured in Oklahoma City, Okla., will not affect the Terex MPS products built there, according to the company. The Oklahoma plant remains a Terex facility and is not included in the Fayat transaction. The Oklahoma plant remains a Terex facility and is not included in the Fayat transaction. Terex Minerals Processing Systems (MPS) includes a range of crushing equipment and wheeled plants that originally joined the Terex portfolio as part of the Cedarapids acquisi��� tion in 1999. These products have been fully integrated into the comprehensive MPS product line, and have been manu��� factured at the Terex facility in Oklahoma for more than two and half years. 8 ROCKproducts ��� MARCH 2013 The former Cedarapids businesses have been managed separately for several years, with crushing and screening equipment as part of the Terex Materials Processing seg��� ment, while Roadbuilding products have been part of the Terex Construction segment. Terex MPS will continue to build jaw crushers, cone crushers, impactors, and wheeled plants in Oklahoma along with screens, feeders and VSI���s in its factory in Du��� rand, Mich. Other segments of Terex will also continue operations at Oklahoma. The MPS product offering is not changing as a result of the sale of the roadbuilding prod��� uct lines that are being sold. ���Terex MPS has delivered multiple years of growth that are the result of hard work by our team and by our dealers, and most of all because our customers choose our products. We will continue to launch new products, seek to grow the business, and look forward to serving our customers,��� the company said.

Articles in this issue

Links on this page

Archives of this issue

view archives of Rock Products - MAR 2013