Jefferies Reports Better Than Expected Q2 For Vulcan Materials

According to Jefferies, Vulcan Materials VMC Q2 earnings were better than expected. Jefferies said that this was entirely due to a larger than expected tax credit. “Trading profitability was lower than expected, due to the weaker volumes, down 9% for aggregates in the quarter. Vulcan has reduced its volume guidance for the full-year to flat to down 2%, but maintained its pricing expectations of 1-3% higher.” Vulcan Materials closed yesterday at $31.44.