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Vulcan Materials profit misses consensus by 40.6% in Q2

Vulcan Materials Co. said its second-quarter normalized net income came to 72 cents per share, compared with the S&P Capital IQ consensus estimate of $1.21 per share.

EPS declined 8.1% year over year from 78 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $96.6 million, a decline of 9.1% from $106.3 million in the year-earlier period.

The normalized profit margin fell to 9.4% from 11.1% in the year-earlier period.

Total revenue rose 7.7% year over year to $1.03 billion from $956.8 million, and total operating expenses climbed 11.4% from the prior-year period to $839.5 million from $753.5 million.

Reported net income decreased 11.7% from the prior-year period to $111.8 million, or 83 cents per share, from $126.7 million, or 93 cents per share.