Vulcan Materials Company (VMC) Q3 2022 Earnings Call Transcript

Vulcan Materials Company (NYSE:VMC) Q3 2022 Earnings Conference Call November 2, 2022 10:00 AM ET

Company Participants

Mark Warren - Vice President of Investor Relations

Thomas Hill - Chairman, President and Chief Executive Officer

Mary Carlisle - Senior Vice President and Chief Financial Officer

Conference Call Participants

Stanley Elliott - Stifel, Nicolaus & Company, Inc.

Trey Grooms - Stephens Inc.

Jerry Revich - Goldman Sachs Group, Inc.

Philip Ng - Jefferies LLC

Michael Dahl - RBC Capital Markets

Michael Feniger - Bank of America Merrill Lynch

Garik Shmois - Loop Capital Markets LLC

Kathryn Thompson - Thompson Research Group, LLC

Anthony Pettinari - Citigroup Inc.

Adam Thalhimer - Thompson Davis & Company, Inc.

Timna Tanners - Wolfe Research, LLC

Dillon Cumming - Morgan Stanley

Keith Hughes - Truist Securities, Inc.

Tyler Brown - Raymond James & Associates, Inc.

David MacGregor - Longbow Research LLC

Michael Dudas - Vertical Research Partners

Operator

Good morning, ladies and gentlemen, and welcome to the Vulcan Materials Company's Third Quarter Earnings Call. My name is Gretchen, and I will be your conference call coordinator today. [Operator Instructions]

Now I will turn the call over to your host, Mr. Mark Warren, Vice President of Investor Relations for Vulcan Materials. Mr. Warren, you may begin.

Mark Warren

Good morning, and thank you for your interest in Vulcan Materials. With me today are Tom Hill, Chairman and CEO; and Mary Andrews Carlisle, Senior Vice President and Chief Financial Officer.

A couple of housekeeping items before I turn the call over to Tom. First, please be reminded that today's discussion may include forward-looking statements, which are subject to risks and uncertainties. These risks, along with other legal disclaimers, are described in detail in the Company's earnings release and in other filings with the Securities and Exchange Commission. Reconciliations of any non-GAAP financial measures are defined and reconciled in our earnings release, our supplemental presentation and other SEC filings.

In the interest of time, please limit your Q&A participation to one question. This will allow for more questions during our time together. Today's call is accompanied by a press release and a supplemental presentation posted to our website, vulcanmaterials.com. Additionally, a recording of this call will be available for replay later today at our website.

And with that, I will turn the call over to Tom.

Thomas Hill

Thank you, Mark, and thanks to each of you for joining the call this morning. We appreciate your interest in Vulcan Materials Company. During the third quarter, our team showcased the durable growth capabilities of our aggregates-led business model. Volumes, prices, gross profit, and importantly unit profitability improved in each of our operating segments. Widespread double-digit pricing growth across all segments outpaced continued cost pressures. Our momentum is strong.