On Saturday, April 27, we noted, “With the presidential election just months away, one of the hottest topics will be the nation’s infrastructure – especially after the bridge collapse in Baltimore, Maryland. One of the top infrastructure stocks that could benefit is Vulcan Materials (SYM: VMC) – a key supplier of construction aggregates.”
That Monday, VMC opened at $261.29.
It just recently hit a high of $273.18, and could push even higher, as elections near.
Earnings beat estimates are helping too. First quarter EPS of 80 cents, for example, beat by three cents. Revenue of $1.55 billion – down about 6.1% year over year – beat by $40 million.
Moving forward, the company said, “Our operating performance in the first quarter was solid and in line with our expectations. We remain on track to deliver $2.15 to $2.30 billion of Adjusted EBITDA, marking the fourth consecutive year of double-digit growth. The pricing environment remains positive, and our focus remains on compounding unit margins through all parts of the cycle, creating value for our shareholders through improving returns on capital.”
