Vulcan Materials cuts FY18 cont ops EPS view to $3.85-$3.95 from $4.00-$4.65
FY18 consensus $4.03. "We now expect full year 2018 Adjusted EBITDA between $1.125 and $1.135 billion and earnings from continuing operations of between $3.85 and $3.95 per diluted share. This full year outlook reflects the impact of aggregates shipments deferred due to weather as well as full year Asphalt segment gross profit that is expected to be $25 million below prior year. Looking ahead to 2019, our business is positioned for continued shipment growth, compounding pricing improvements, and further gains in unit profitability in 2019. Vulcan-served markets are benefitting disproportionally from both growing public construction demand and continued growth in private demand, led by residential demand growth in our markets. We expect our aggregates shipment and price momentum to continue in 2019 leading to mid-single-digit growth in both."