Stock Monitor: NCI Building Systems Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 11, 2017 / Active-Investors free earnings report on Vulcan Materials Co. (NYSE: VMC) ("Vulcan") has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=VMC. The Company posted its financial results on October 31, 2017, for the third quarter fiscal 2017. The producer of construction materials saw revenue and adjusted EPS surpassed analysts' expectations. Register today and get free access to our complimentary member's area where many more reports are available:
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Active-Investors.com is currently working on the research report for NCI Building Systems, Inc. (NYSE: NCS), which also belongs to the Industrial Goods sector as the Company Vulcan Materials. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Vulcan Materials most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:
www.active-investors.com/registration-sg/?symbol=VMC
Earnings Highlights and Summary
For three months ended September 30, 2017, Vulcan's total revenues increased 9% to $1.09 billion from $1.01 billion in Q3 FY16. The Company's total revenue surpassed analysts' expectations of $1.06 billion.
During Q3 FY17, Vulcan's gross profit increased 0.4% to $305.52 million from $304.21 million in the same period last year. During Q3 FY17, the Company's gross margin decreased 230 basis points to 27.9% of revenue from 30.2% of revenue in the same period last year.
During Q3 FY17, Vulcan's earnings before interest, tax, depreciation, and amortization (EBITDA) increased 3.6% to $310.91 million from $300.12 million in the same period last year. During Q3 FY17, the Company's EBITDA margin decreased 140 basis points to 28.4% of revenue from 29.8% of revenue in the same period last year. For the reported quarter, Vulcan's adjusted EBITDA increased 3.6% to $311.81 million from $300.97 million in the same period last year. During Q3 FY17, the Company's adjusted EBITDA margin decreased 140 basis points to 28.5% of revenue from 29.9% of revenue in the same period last year.
During Q3 FY17, Vulcan's operating income increased 1.1% to $229.49 million from $227.08 million in the same period last year. For the reported quarter, the Company's operating margin decreased 150 basis points to 21% of revenue from 22.5% of revenue in the third quarter of 2016.
During Q3 FY17, Vulcan's EBT decreased 23.4% to $149.23 million from $194.94 million in the same period last year. During Q3 FY17, the Company's EBT margin decreased 570 basis points to 13.6% of revenue from 19.3% of revenue in the same period last year.
For the reported quarter, Vulcan's net income decreased 24.1% to $110.15 million from $145.14 million in Q3 FY16. During Q3 FY17, the Company's diluted EPS decreased 23.4% to $0.82 from $1.07 in the same period last year. During Q3 FY17, the Company's adjusted diluted EPS increased 2% to $1.04 on a y-o-y basis from $1.02 in the same period last year. Adjusted diluted EPS surpassed analysts' expectations of $0.95.
Vulcan's Segment Details
Aggregates -During Q3 FY17, the Aggregates segment's total revenue increased 4.5% to $858.70 million from $821.81 million in the same period last year. For the reported quarter, the segment's freight adjusted revenue increased 4.3% to $668.50 million on a y-o-y basis. For the reported quarter, the segment's gross profit decreased 1% to $259.12 million from $261.76 million in Q3 FY16. For the reported quarter, the segment's shipment increased 1.3% to 50,945 tons from 50,277 tons in the third quarter of 2016.
Asphalt - During Q3 FY17, the Asphalt segment's total revenue increased 20.7% to $189.94 million from $157.41 million in the same period last year. For the reported quarter, the segment's gross profit decreased 4.7% to $31.36 million from $32.89 million in Q3 FY16. For the reported quarter, the segment's shipment increased 6.9% to 3,090 tons from 2,890 tons in the third quarter of 2016.
Concrete - During Q3 FY17, the Concrete segment's total revenue increased 26.7% to $115.49 million from $91.15 million in the same period last year. For the reported quarter, the segment's gross profit increased 65% to $14.37 million from $8.71 million in Q3 FY16.
Calcium - During Q3 FY17, the Calcium segment's total revenue decreased 16.9% to $1.97 million from $2.37 million in the same period last year. For the reported quarter, the segment's gross profit decreased 21.6% to $664,000 from $847,000 in Q3 FY16.
Balance Sheet
As on September 30, 2017, Vulcan's cash and cash equivalents increased 170.7% to $701.16 million from $258.99 million on December 31, 2016. For the reported quarter, the Company's long-term debt increased 41.7% to $2.81 billion from $1.98 billion in Q4 FY16.
For the reported quarter, the Company's net accounts and notes receivable increased 17.8% to $579.20 million from $491.82 million in Q4 FY16. For the reported quarter, the Company's trade payable and accruals increased 24.9% to $181.21 million from $145.04 million in the fourth quarter of 2016.
In the first nine months of 2017, the Company's cash provided by operating activities decreased 1.3% to $399.54 million from $404.61 million in the same period last year.
Outlook
For FY17, the Company expects EBITDA to be $1.00 billion.
Stock Performance Snapshot
December 08, 2017 - At Friday's closing bell, Vulcan Materials' stock marginally climbed 0.80%, ending the trading session at $125.88.
Volume traded for the day: 1.35 million shares, which was above the 3-month average volume of 1.13 million shares.
Stock performance in the last month – up 1.60%; previous three-month period – up 7.59%; and year-to-date – up 0.58%
After last Friday's close, Vulcan Materials' market cap was at $16.68 billion.
Price to Earnings (P/E) ratio was at 42.93.
The stock has a dividend yield of 0.79%.
The stock is part of the Industrial Goods sector, categorized under the General Building Materials industry. This sector was up 0.5% at the end of the session.
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