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Vulcan’s Fourth-Quarter Profit Soars

Vulcan Materials CompanyVulcan Materials reported that in the fourth quarter of 2013, net sales increased $78 million, or 14 percent, versus the prior year’s fourth quarter, as volumes continued to improve. Gross profit improved $38 million, or 48 percent, primarily on the strength of the volume growth and operating leverage in aggregates. Aggregates gross profit and profit margin increased $30 million and 390 basis points, respectively. Shipments increased 7 percent. Pricing increased 3.5 percent.

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Governors Demand Congressional Action

A bipartisan group of governors is calling on Congress to take immediate action to avoid a looming national crisis – the expiration of national highway funding. Seventeen governors signed a letter urging congressional members to act and avoid a potential nationwide transportation funding crisis.

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Dodge Momentum Index Climbs Further

The Dodge Momentum Index rose 3 percent in January compared to the previous month, according to McGraw Hill Construction, a division of McGraw Hill Financial. The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.

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Demand for Multifamily Housing to Rise

Strong demand for apartments will increase over the next several years, said panelists during a press conference at the National Association of Home Builders (NAHB) International Builders’ Show (IBS) in Las Vegas. And while multifamily construction continues to be strong, NAHB does expect the speed to decrease as sustainable levels are reached in 2015 or 2016.

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