Aggregates Manager Digital Magazine
Issue link: https://read.dmtmag.com/i/945822
One Week +0.016 One Year +0.528 One Week +0.014 One Year +0.552 One Week +0.006 One Year +0.471 One Week +0.014 One Year +0.466 One Week +0.021 One Year +0.515 One Week +0.028 One Year +0.527 One Week +0.018 One Year +0.561 One Week +0.020 One Year +0.480 United States $3.086 Midwest $3.044 Gulf Coast $2.874 Rocky Mountain $2.981 East Coast $3.133 New England $3.188 Central Atlantic $3.324 Lower Atlantic $2.988 Company Ticker Current Value 52-Week Low 52-Week High Cemex, S.A.B. de C.V. CX $7.36 $7.10 $10.37 CRH plc CRG $34.03 $32.11 $43.05 Eagle Materials Inc. EXP $101.32 $86.51 $122.49 Granite Construction Inc. GVA $59.36 $45.14 $68.58 Heidelberg Cement AG HEI $100.21 $94.05 $117.54 LafargeHolcim Ltd. ADR HCMLY $11.25 $10.47 $12.59 Martin Marietta Materials, Inc. MLM $208.42 $191.09 $244.32 MDU Resources Group, Inc. MDU $25.55 $24.29 $28.22 Summit Materials SUM $28.52 $21.88 $34.06 United States Lime & Minerals, Inc. USLM $72.70 $71.61 $101.40 U.S. Concrete USCR $73.55 $57.95 $86.35 Vulcan Materials Co. VMC $121.47 $108.95 $141.20 STOCK REPORT COMPANY SPOTLIGHT Source: Wall Street Journal Market Watch. Currency conversion calculated on date of close 02/08/18. M DU Resources Group, Inc. (MDU), parent company of Knife River Corp., reported 2017 earnings from continuing operations of $284.2 million, or $1.45 per share, compared to 2016 earnings from continuing operations of $232.4 million, or $1.19 per share. Fourth quarter 2017 earnings from continuing operations were $115.4 million, or 59 cents per share, com- pared to $66.3 million, or 33 cents per share, in the fourth quarter of 2016. "We are very pleased with our strong fi nish to the year, irrespective of the benefi t we saw from federal tax reform," said David L. Goodin, president and CEO of MDU Resources, in a press release. "We had a particularly strong fourth quarter, with our construction business successfully executing on projects under favorable weather conditions in October and November and our regulated energy delivery business benefi ting from colder weather at the end of the quarter." In the fourth quarter, the com- pany performed a one-time revaluation of its net deferred tax liabilities due to the reduction of the corporate tax rate from 35 percent to 21 percent effective Jan. 1, 2018, as part of the Federal Tax Cuts and Jobs Act (TCJA). The result was a fourth quarter benefi t of $39.5 million or 20 cents per share attributable to the tax cut. While MDU's electric and gas utility and pipeline and midstream businesses each received a charge as a result of TCJA, the construction services business recorded a $4.3 million benefi t and the construction materials business recorded an even bigger $41.9 million benefi t. For the year, the construction materials business earned $123.4 million, compared to $102.7 million in 2016; the 2017 total includes the $41.9 million adjustment. MDU reports the business was impacted by above-average precipitation in many markets and natural disasters in some areas, but notes that favorable weather in the western markets in the early fourth quarter did allow it to com- plete a number of projects. It also notes that the business ended the year with a backlog of $486 million and is eyeing acquisition opportunities. "In 2017, all our business performed very well, and we are optimistic about the momentum we have going into 2018 as we continue building a strong America," Goodin noted. Source: U.S. Energy Information Ad- ministration (dollars per gallon, prices include all taxes). U.S. On-Highway Diesel Fuel Prices 02/5/18 Data mining Source: Market Watch MDU Resources Group, Inc. (MDU) One Week +0.026 One Year +0.604 One Week +0.024 One Year +0.396 West Coast $3.460 West Coast less California $3.144 One Week +0.028 One Year +0.767 California $3.711