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Vulcan Materials profit misses consensus by 32.9% in Q3

Vulcan Materials Co. said its third-quarter normalized net income amounted to 69 cents per share, compared with the S&P Capital IQ consensus estimate of $1.03 per share.

EPS decreased 21.9% year over year from 88 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $93.1 million, a decline of 22.5% from $120.1 million in the prior-year period.

The normalized profit margin declined to 8.5% from 11.9% in the year-earlier period.

Total revenue grew 8.6% year over year to $1.09 billion from $1.01 billion, and total operating expenses increased 10.4% from the prior-year period to $865.5 million from $783.8 million.

Reported net income fell 24.0% on an annual basis to $110.5 million, or 82 cents per share, from $145.3 million, or $1.07 per share.