Vulcan Materials Company (NYSE:VMC) Q2 2024 Earnings Conference Call August 6, 2024 11:00 AM ET
Company Participants
Mark Warren - VP of IR
Thomas Hill - Chairman and CEO
Mary Andrews Carlisle - SVP and CFO
Conference Call Participants
Stanley Elliott - Stifel
Garik Shmois - Loop Capital
Anthony Pettinari - Citi
Jerry Revich - Goldman Sachs
Kathryn Thompson - the Thompson Research Group
Angel Castillo - Morgan Stanley
Michael Dahl - RBC Capital Markets
Trey Grooms - Stephens
Adam Thalhimer - Thompson Davis
Phil Ng - Jefferies
Michael Dudas - Vertical Research
Michael Feniger - Bank of America
Operator
Good morning. Welcome, everyone, to the Vulcan Materials Company Second Quarter 2024 Earnings Call. My name is Todd, and I will be your conference call coordinator today. Please be reminded that today's call is being recorded and will be available for replay later today at the company's website. [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
Thank you, operator, and good morning, everyone. With me today are Tom Hill, Chairman and CEO; and Mary Andrews Carlisle, Senior Vice President and Chief Financial Officer.
Today's call is accompanied by a press release and a supplemental presentation posted to our website vulcanmaterials.com. 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 non-GAAP financial measures are defined and reconciled in our earnings release, our supplemental presentation and other SEC filings. [Operator Instructions].
And with that, I'll turn the call over to Tom.
Thomas Hill
Thank you, Mark, and thank all of you for your interest in Vulcan Materials.
Our results demonstrate how our teams have successfully navigated a challenging first half of the year. Unfavorable weather conditions in many key markets impacted our shipments and operating efficiencies.
Our second quarter performance reinforces our consistent execution the durable characteristics of our aggregates-led business and the benefits of our continued focus on both enhancing our core and expanding our reach.
Even in the face of lower aggregate shipments, and weather-driven inefficiencies, our teams delivered a seventh consecutive quarter of double-digit year-over-year improvement in aggregates unit profitability. In our trailing 12 months, average cash gross profit per ton has reached $9.96 per ton, marking consistent progress towards our $11 to $12 target. These achievements exhibit the benefits of our commitment to enhancing our core through our Vulcan selling and Vulcan way of operating disciplines. But our strategy is two-pronged, and we are also focused on expanding our reach.