Vulcan Sees FY24 Adjusted EBITDA Of $2.15B-$2.30B

Author: Benzinga Newsdesk | February 16, 2024 08:14am

Management expectations for 2024 include:

• Continued improvement in Aggregates segment cash gross profit per ton ($9.46 in 2023)
  • Total shipments flat to down 4 percent (234.3 million tons in 2023)
  • Freight-adjusted price improvement of 10 to 12 percent ($19.00 in 2023)
  • Mid-single digit increase in freight-adjusted cash cost (freight-adjusted price less segment cash gross profit per ton; $9.54 in 2023)
• Total Asphalt, Concrete and Calcium segment cash gross profit of approximately $275 million ($323 million in 2023; which included approximately 4 million cubic yards from concrete operations divested in late 2023)
  • Relative contribution of approximately 70 percent asphalt and 30 percent concrete
• Selling, Administrative and General expenses of $550 to $560 million ($543 million in 2023)
• Interest expense of approximately $155 million
• Depreciation, depletion, accretion and amortization expense of approximately $610 million
• An effective tax rate of 22 to 23 percent
• Net earnings attributable to Vulcan of $1.07 to $1.19 billion

Posted In: VMC