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Vulcan Materials profit misses consensus by 44.2% in Q2

Vulcan Materials Co. said its second-quarter normalized net income amounted to 35 cents per share, compared with the S&P Capital IQ consensus estimate of 63 cents per share.

EPS rose 17.8% year over year from 30 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $47.4 million, an increase of 19.9% from $39.6 million in the year-earlier period.

The normalized profit margin climbed to 5.3% from 5.0% in the year-earlier period.

Total revenue grew 13.1% on an annual basis to $895.1 million from $791.1 million, and total operating expenses grew 6.7% on an annual basis to $735.1 million from $689.1 million.

Reported net income rose 7.6% year over year to $50.0 million, or 37 cents per share, from $46.5 million, or 35 cents per share.