Vulcan beats Street 4Q forecasts

BIRMINGHAM, Ala. (AP) _ Vulcan Materials Co. (VMC) on Friday reported fourth-quarter earnings of $327.5 million. The Birmingham, Alabama-based company said it had net income of $2.43 per share. Earnings, adjusted for one-time gains and costs, came to 74 cents per share. The results beat Wall...

BIRMINGHAM, Ala. (AP) _ Vulcan Materials Co. (VMC) on Friday reported fourth-quarter earnings of $327.5 million.

The Birmingham, Alabama-based company said it had net income of $2.43 per share. Earnings, adjusted for one-time gains and costs, came to 74 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.

The construction materials company posted revenue of $977.5 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $929.2 million.

For the year, the company reported profit of $601.2 million, or $4.46 per share. Revenue was reported as $3.89 billion.

Vulcan expects full-year earnings to be $4 to $4.65 per share.

Vulcan shares have risen 4 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 2 percent. The stock has climbed slightly more than 8 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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