Aggregates Manager Digital Magazine
Issue link: http://read.dmtmag.com/i/908212
One Week +0.063 p One Year +0.412 p One Week +0.051 p One Year +0.436 p One Week +0.029 p One Year +0.328 p One Week +0.022 p One Year +0.433 p One Week +0.037 p One Year +0.374 p One Week +0.042 p One Year +0.310 p One Week +0.037 p One Year +0.391 p One Week +0.035 p One Year +0.380 p United States $2.882 Midwest $2.861 Gulf Coast $2.668 Rocky Mountain $2.965 East Coast $2.848 New England $2.812 Central Atlantic $2.975 Lower Atlantic $2.764 Company Ticker Current Value 52-Week Low 52-Week High Cemex, S.A.B. de C.V. CX $8.08 q $6.91 $10.37 CRH plc CRG $36.18 q $32.71 $40.41 Eagle Materials Inc. EXP $103.49 q $86.51 $110.98 Granite Construction Inc. GVA $66.66 p $45.14 $67.20 Heidelberg Cement AG HEI $100.56 p $89.18 $109.64 LafargeHolcim Ltd. ADR HCMLY $11.16 q $10.01 $12.35 Martin Marietta Materials, Inc. MLM $213.20 p $191.09 $244.32 MDU Resources Group, Inc. MDU $26.80 p $25.14 $29.92 Summit Materials SUM $30.43 q $22.19 $32.69 United States Lime & Minerals, Inc. USLM $88.08 p $63.60 $101.40 U.S. Concrete USCR $79.20 p $54.90 $83.85 Vulcan Materials Co. VMC $123.90 p $108.95 $138.18 STOCK REPORT COMPANY SPOTLIGHT Source: Wall Street Journal Market Watch. Currency conversion calculated on date of close 11/07/17. I n its third quarter earnings statement, Summit Materials (SUM) reported diluted net income of $79.1 million compared to $44.8 million in the prior year period. "We delivered double-digit year-over-year growth in net revenue, operating income, and net income during the third quarter, driven by a combination of increased organic sales volumes in our materials businesses, together with contributions from recently completed acquisitions," CEO Tom Hill said in a press release. "Demand fundamentals remain strong in our core regional markets," he added. "Organic sales volumes of cement and aggregates increased 10.0 percent and 2.6 percent, respectively, in the third quarter 2017, when compared to the prior year period. Organic sales volumes of ce- ment in our northern Mississippi River markets increased signifi cantly on a year-over-year basis in the third quarter, while organic aggre- gates sales volumes in both the East and West Segments increased versus the prior year period." Hill noted that organic sales prices on aggregates declined less than 1 percent, due mainly to sales mix-related factors in the West segment. Excluding this, estimated aggregate prices increased nearly 3 percent in the third quarter compared to the same period in the prior year. Net revenues for its aggregates business increased by 15.7 percent to $90.6 million in the third quarter 2017, when compared with the prior year period. Since its August update, Summit Materials has closed on four materials-based acquisitions includ- ing Georgia Stone/McLanahan, which provides an entry point into the Georgia market; Alan Ritchey Materials, which offers an entry point into the Dallas market; and Columbia Silica and Stockman, which are bolt-on purchases to existing footprints in South Carolina and Missouri, respectively. "As before, we remain disciplined acquirers, transacting on quality aggregates reserves with high synergy potential," Hill said. Adverse weather did impact the company during the quarter. "In the aftermath of Hurricanes Har- vey and Irma, sales volumes in our Texas and southeastern U.S. markets temporarily declined below historical levels in September and, to a lesser degree, in October, the combined impact of which has led us to reduce our full-year Adjusted EBITDA guidance," he noted. Source: U.S. Energy Information Ad- ministration (dollars per gallon, prices include all taxes). U.S. On-Highway Diesel Fuel Prices 11/6/17 Data mining Source: Market Watch Summit Materials (SUM) One Week +0.221 p One Year +0.566 p One Week +0.055 p One Year +0.402 p West Coast $3.332 West Coast less California $3.075 One Week +0.356 p One Year +0.702 p California $3.541