Vulcan Materials Company (holding Company) · NYSE:VMC
Vulcan Materials Company (holding Company) — Q1 2023 Earnings Presentation
14 slides from Vulcan Materials Company (holding Company)'s earnings presentation, May 4, 2023
Slide 1: 1Q 2023 Supplemental Information
1Q 2023 SUPPLEMENTAL INFORMATION MAY 4, 2023 1
Slide 2: Safe Harbor and Non-GAAP Financial Measures
Safe Harbor and Non-GAAP Financial Measures This presentation 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 financial performance
Slide 3: 1Q 2023 Highlights
1Q 2023 Highlights Pricing momentum and solid execution drove strong earnings growth Total Adjusted Aggregates Aggregates Net Debt to Revenues EBITDA* Gross Profit Cash Gross Adjusted Profit per Ton* EBITDA* $1.6B $338M $303M $8.02 2.2X +7% +15% +25% +23% *Non-GAAP measure. See appendix for reconcil
Slide 4: Key Performance Indicators – Aggregates
1Q 2023 Key Performance Indicators – Aggregates Double-digit price growth and strong operational performance more than offset cost inflation Volume 51.7M tons, -2% Freight-Adjusted Price Cash Gross Profit* $18.67/ton, +20% $8.02/ton, +23% Cash Cost of Sales* $10.65/ton, +18% *Non-GAAP measure. See a
Slide 5: Pricing Momentum in Aggregates
Pricing Momentum in Aggregates Pricing continues to accelerate with growth widespread Year-over-Year Change in Mix-Adjusted Price 18.5% 15.1% 12.4% 9.6% 6.9% 4.2% 3.5% 2.6% 1.3% 1Q '21 2Q '21 3Q '21 4Q '21 1Q '22 2Q '22 3Q '22 4Q '22 1Q '23 5
Slide 6: Key Performance Indicators – Asphalt
1Q 2023 Key Performance Indicators – Asphalt Continued pricing momentum drove strong earnings growth despite lower volumes Volume 2.1M tons, -11% Average Sales Price Cash Gross Profit* $73.44/ton, +15% $4.70/ton, +90% Cash Cost of Sales* $68.74/ton, +12% *Non-GAAP measure. See appendix for reconcili
Slide 7: Key Performance Indicators – Concrete
1Q 2023 Key Performance Indicators – Concrete Earnings impacted by divestiture, weather and slowdown in residential Volume 1.8M cyds, -30% Average Sales Price Cash Gross Profit* $161.25/cyd, +12% $10.24/cyd, -48% Cash Cost of Sales* $151.01/cyd, +22% *Non-GAAP measure. See appendix for reconciliatio
Slide 8: Financial Position
Financial Position Financial strength and flexibility to sustain and strengthen business operations 2.2x 10.7 years 4.8% 13.7% Net Debt to Weighted-Average Weighted-Average Return on Invested Adjusted EBITDA* Debt Maturity Interest Rate** Capital* *Non-GAAP measure. See appendix for reconciliation.
Slide 9: 2023 Outlook
2023 Outlook Successful pricing actions drive upward adjustment in EBITDA guidance Demand growth in public offset by softness in private Adjusted EBITDA* $1.85 to $1.95 billion Best-in-class execution drives growth in Aggregates +14% to +20% unit profitability versus 2022 *Non-GAAP measure. See appe
Slide 10: Serving the Right U.S. Markets
Serving the Right U.S. Markets Well positioned to capture U.S. market opportunities 90% 60% Revenues tied to Population living markets where Vulcan within 60 miles of a has a #1 or #2 position Vulcan operation 20 of top 25 $20B Fastest growing Aggregates opportunity markets served by in Vulcan-serve
Slide 11: Competing and Winning, Locally
Competing and Winning, Locally Strengthening existing capabilities to drive the next horizon of growth and profitability VWS VWO The Vulcan Way of Selling The Vulcan Way of Operating Commercial Logistics Operational Strategic Excellence Innovation Excellence Sourcing 11
Slide 12: Proven Track Record of Our Aggregates-led Business
Proven Track Record of Our Aggregates-led Business Best-in-class execution leads to resiliency and durability regardless of macro challenges Trailing Twelve Months Aggregates Cash Gross Profit / Ton* $8.16 $7.40 $7.22 $6.82 $6.38 $6.02 1Q '18 1Q '19 1Q '20 1Q '21 1Q '22 1Q '23 *Non-GAAP measure. See
Slide 13: Well Positioned for Continued Growth and Value Creation
Well Positioned for Continued Growth and Value Creation Durable Business Industry Leader with Strong Cash Flow Model to Extend the Clear Competitive Generation and Cycle and Sustain Advantages Investment-Grade Growth Balance Sheet 13
Slide 14: Non-GAAP Reconciliations
Non-GAAP Reconciliations EBITDA Aggregates Segment Cash Gross Profit and Cash Cost of Sales EBITDA is an acronym for "Earnings Before Interest, Taxes, Depreciation and Amortization" and excludes discontinued operations. GAAP does Aggregates segment cash gross profit adds back noncash charges for dep
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