Vulcan Materials Company (holding Company) · NYSE:VMC
Vulcan Materials Company (holding Company) — Q2 2019 Earnings Presentation
9 slides from Vulcan Materials Company (holding Company)'s earnings presentation, Jul 25, 2019
Slide 1: 2Q 2019 Supplemental Information for Earnings Conference Call
2Q 2019 Supplemental Information for Earnings Conference Call July 25, 2019 Aggregates Essential Material | Valuable Asset
Slide 2: Important Disclosures: Forward Looking Statements
I M P O R TA N T D I S C L O S U R E S Forward Looking Statements This document contains forward-looking statements. Statements that are not historical fact, including statements about Vulcan's beliefs and expectations, are forward-looking statements. Generally, these statements relate to future fin
Slide 3: Second Quarter Highlights
SECOND QUARTER HIGHLIGHTS Aggregates focused business continued to execute well Double digit earnings growth driven by strong Aggregates results Total revenues of $1,328 million (+11%) Net earnings of $198 million (+24%) and Adjusted EBITDA of $372 million (+15%) Aggregates segment gross profit incr
Slide 4: Aggregates Segment Second Quarter Highlights
A G G R E G AT E S S E G M E N T S E C O N D Q U A R T E R H I G H L I G H T S Aggregates gross profit margin and unit profitability expand Year-over-Year % Change Gross Profit 16% Gross profit margin expanded 140 basis points Shipments 4% Shipment growth across most markets Freight-adjusted price 6
Slide 5: First Half Highlights
FIRST HALF HIGHLIGHTS Strong earnings growth through the first half; well positioned to carry that momentum forward Total Revenues Operating Earnings +13% $2,324 +22% $381 $2,055 $311 YTD 2018 YTD 2019 YTD 2018 YTD 2019 Earnings per diluted share from Aggregates Gross Profit Continuing Operations $5
Slide 6: Aggregates Trailing-Twelve-Month Profitability
A G G R E G AT E S T R A I L I N G - T W E LV E - M O N T H P R O F I TA B I L I T Y Unit profitability continues to expand and flow -through rates are in line with longer-term expectations Gross Profit per Ton Same-Store Incremental Gross Profit Flow-Through Longer-term expectations of 65% 64% $5.1
Slide 7: Demand Environment in Vulcan-Served Markets Continues to Be Positive
DEMAND ENVIRONMENT IN VULCAN -SERVED MARKETS CONTINUES TO BE POSITIVE Higher state-level transportation funding in Vulcan states has led to strong growth in highway construction activity Shipments into both housing and nonresidential continue to benefit from economic growth and solid fundamental
Slide 8: Solid Cash Generation
S O L I D C A S H G E N E R AT I O N 2019 Projected discretionary cash flow $20 $250 $80 $125 $1,290 $815 Midpoint of Working Capital Operating & Cash Cash Discretionary EBITDA Guidance Change Maintenance Taxes Interest Cash Flow Capex See Appendix for reconciliation of non-GAAP measures. Supplement
Slide 9: Reconciliation of Non-GAAP Measures
R E C O N C I L I AT I O N O F N O N - G A A P M E A S U R E S EBITDA EBITDA is an acronym for Earnings Before Interest, Taxes, Depreciation and Amortization and excludes discontinued operations. GAAP does not define EBITDA and it should not be considered as an alternative to earnings measures defin
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