Vulcan Materials raises FY23 adjusted EBITDA to $1.9B-$2.0B from $1.85B-$1.95B

As part of its QA2 earnings results yesterday, the company stated: “We are increasing our full-year earnings expectations to reflect aggregates shipment trends and the earnings momentum in our Asphalt segment. Through the first half of the year, shipments have been in line with the upper end of our original expectations. Private non-residential construction activity has remained healthy and should partially offset declines in residential activity which have been more moderate than anticipated. As a result, we are updating our aggregates volume outlook to reflect shipment levels through the first half. As always, we remain focused on the things we can control, and we are well positioned to navigate shifts in demand and deliver attractive earnings growth in 2023.”