Vulcan Materials Co., the nation’s largest producer of construction aggregates, announced results for the fourth quarter and full year ended Dec. 31, 2009.Fourth quarter 2009
• Net earnings from continuing operations were a loss of $13 million.
• Cash earnings from continuing operations were $67 million.
• Aggregates shipments declined 23 percent.
• Aggregates pricing increased 5 percent.
• Total contract awards for highways increased 13 percent in Vulcan-served states.
• Net earnings were $30 million, including $19 million from continuing operations.
• Cash earnings were $369 million from continuing operations and $12 million from discontinued operations.
• Aggregates shipments declined 26 percent.
• Aggregates pricing increased 3 percent.
• Cash provided by operating activities was $453 million compared with $435 million in the prior year.
• Total debt was reduced by $810 million in 2009.
Commenting for the company, Don James, Vulcan’s chairman and CEO, said, “Continued weakness in private construction activity, uncertainty surrounding the timing and amount of either a formal extension or reauthorization of the multi-year federal highway program, and extremely wet weather suppressed momentum gained from stimulus-related construction. Nonetheless, we finished the year with strong cash generation.” -- Posted by Darren Constantino
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