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Vulcan Materials profit misses consensus by 17.8% in Q3

Vulcan Materials Co. said its normalized net income for the third quarter was 79 cents per share, compared with the S&P Capital IQ consensus estimate of 96 cents per share.

EPS increased 70.9% year over year from 46 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $107.0 million, a gain of 73.7% from $61.6 million in the prior-year period.

The normalized profit margin climbed to 10.3% from 7.1% in the year-earlier period.

Total revenue grew 18.9% on an annual basis to $1.04 billion from $873.6 million, and total operating expenses rose 12.7% from the prior-year period to $826.6 million from $733.5 million.

Reported net income increased 85.3% year over year to $126.1 million, or 93 cents per share, from $68.0 million, or 51 cents per share.