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Vulcan misses Street 2Q forecasts

BIRMINGHAM, Ala. (AP) _ Vulcan Materials Co. (VMC) on Wednesday reported second-quarter net income of $120.1 million. The Birmingham, Alabama-based company said it had profit of 89 cents per share. Earnings, adjusted for one-time gains and costs, were 90 cents per share. The results did not meet...

BIRMINGHAM, Ala. (AP) _ Vulcan Materials Co. (VMC) on Wednesday reported second-quarter net income of $120.1 million.

The Birmingham, Alabama-based company said it had profit of 89 cents per share. Earnings, adjusted for one-time gains and costs, were 90 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.22 per share.

The construction materials company posted revenue of $1.03 billion in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $1.08 billion.

Vulcan shares have declined almost 5 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 11 percent. The stock has climbed 2.5 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VMC at https://www.zacks.com/ap/VMC

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Keywords: Vulcan Materials, Earnings Report

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