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Vulcan Materials Q1 loss narrows YOY

Vulcan Materials Co. its normalized net income for the first quarter amounted to a loss of 26 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 15 cents per share.

The per-share loss narrowed 65.9% year over year from 75 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $33.9 million, compared with a loss of $99.3 million in the prior-year period.

The normalized profit margin increased to negative 5.4% from negative 17.3% in the year-earlier period.

Total revenue climbed 9.9% year over year to $631.3 million from $574.4 million, and total operating expenses climbed from the prior-year period to $624.1 million from $616.1 million.

Reported net income totaled a loss of $37.1 million, or a loss of 28 cents per share, compared with income of $54.2 million, or 41 cents per share, in the prior-year period.