BIRMINGHAM, Ala. (AP) _ Vulcan Materials Co. (VMC) on Wednesday reported third-quarter net income of $108.6 million.
On a per-share basis, the Birmingham, Alabama-based company said it had net income of 81 cents. Earnings, adjusted for pretax expenses and to account for discontinued operations, were $1.04 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.
The construction materials company posted revenue of $1.09 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $1.06 billion.
Vulcan shares have dropped slightly more than 3 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 15 percent. The stock has increased nearly 5 percent in the last 12 months.