Vulcan Materials Files Q2 2024 10-Q

TL;DR

**VMC Q2 24 10-Q filed. Financials look solid, check details.**

AI Summary

Vulcan Materials Company (VMC) filed its 10-Q for the period ending June 30, 2024. The company reported its financial performance and condition, including details on its assets, liabilities, and equity. Specific financial figures and operational highlights are detailed within the report, providing insight into the company's performance in the second quarter of 2024.

Why It Matters

This filing provides investors and analysts with a detailed look at Vulcan Materials' financial health and operational performance during the second quarter of 2024, crucial for understanding the company's trajectory in the construction materials sector.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that could reveal risks or opportunities impacting the company's stock price.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 20240807 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Vulcan Materials CO (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240807 (date) — Date of filing
• Virginia Holdco, Inc. (company) — Former company name

FAQ

Key Financial Figures

• $1 — ange on which registered Common Stock, $1 par value VMC New York Stock Exchange
• $1 b — financial statement income in excess of $1 billion, as well as certain climate-relat

Filing Documents

• vmc-20240630.htm (10-Q) — 1527KB
• a2q24-ex31.htm (EX-31) — 19KB
• a2q24-ex32.htm (EX-32) — 10KB
• a2q24-ex95.htm (EX-95) — 71KB
• vmc-20240630_g1.jpg (GRAPHIC) — 312KB
• 0001396009-24-000017.txt ( ) — 9988KB
• vmc-20240630.xsd (EX-101.SCH) — 57KB
• vmc-20240630_cal.xml (EX-101.CAL) — 94KB
• vmc-20240630_def.xml (EX-101.DEF) — 260KB
• vmc-20240630_lab.xml (EX-101.LAB) — 716KB
• vmc-20240630_pre.xml (EX-101.PRE) — 522KB
• vmc-20240630_htm.xml (XML) — 1549KB

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets 2 Condensed Consolidated Statements of Comprehensive Income 3 Condensed Consolidated Statements of Cash Flows 4 Notes to Condensed Consolidated Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 44 Item 4.

Controls and Procedures

Controls and Procedures 44 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 45 Item 1A.

Risk Factors

Risk Factors 45 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 45 Item 4. Mine Safety Disclosures 45 Item 5. Other Information 45 Item 6. Exhibits 46

Signatures

Signatures 47 Unless otherwise stated or the context otherwise requires, references in this report to "Vulcan," the "Company," "we," "our," or "us" refer to Vulcan Materials Company and its consolidated subsidiaries. 1

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION ITEM 1

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS VULCAN MATERIALS COMPANY AND SUBSIDIARY COMPANIES CONDENSED CONSOLIDATED BALANCE SHEETS Unaudited June 30 2024 December 31 2023 June 30 2023 in millions Assets Cash and cash equivalents $ 111.0 $ 931.1 $ 166.0 Restricted cash 0.6 18.1 2.2 Accounts and notes receivable, gross 1,075.5 903.3 1,174.6 Allowance for credit losses ( 14.3 ) ( 13.6 ) ( 14.2 ) Accounts and notes receivable, net 1,061.2 889.7 1,160.4 Inventories 650.3 615.6 594.6 Other current assets 153.4 70.4 120.5 Total current assets 1,976.5 2,524.9 2,043.7 Investments and long-term receivables 31.4 31.3 31.2 Property, plant & equipment, cost 12,240.8 11,835.5 11,561.5 Allowances for depreciation, depletion & amortization ( 5,825.0 ) ( 5,617.8 ) ( 5,455.7 ) Property, plant & equipment, net 6,415.8 6,217.7 6,105.8 Operating lease right-of-use assets, net 511.8 511.7 558.4 Goodwill 3,536.6 3,531.7 3,689.5 Other intangible assets, net 1,462.7 1,460.7 1,653.1 Other noncurrent assets 281.6 267.7 251.9 Total assets $ 14,216.4 $ 14,545.7 $ 14,333.6 Liabilities Current maturities of long-term debt 0.5 0.5 0.5 Short-term debt 95.0 0.0 0.0 Trade payables and accruals 326.6 390.4 402.1 Other current liabilities 374.7 406.7 390.7 Total current liabilities 796.8 797.6 793.3 Long-term debt 3,331.7 3,877.3 3,873.2 Deferred income taxes, net 1,011.5 1,028.9 1,069.8 Deferred revenue 141.4 145.3 149.9 Noncurrent operating lease liabilities 507.5 507.4 537.5 Other noncurrent liabilities 697.1 681.3 683.5 Total liabilities $ 6,486.0 $ 7,037.8 $ 7,107.2 Other commitments and contingencies (Note 8) Equity Common stock, $ 1 par value, Authorized 480.0 shares, Outstanding 132.1 , 132.1 and 132.9 shares, respectively 132.1 132.1 132.9 Capital in excess of par value 2,879.9 2,880.1 2,845.4 Retained earnings 4,833.9 4,615.0 4,375.7 Accumulated other comprehensive loss ( 140.6 ) ( 143.8 ) ( 151.4 ) Total shareholders' equity 7,705.3 7,483.4 7,202.6 Noncontrolling in

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View this 10-Q filing on SEC EDGAR