News & Events zu Vulcan Materials Co (VMC)VMCVulcan Materials Co

Vulcan Materials NAFTA Arbitration Update: Mexico Violated Agreement

Vulcan Materials provided an update with respect to its North American Free Trade Agreement, or NAFTA, arbitration against Mexico originally filed in 2018. As previously disclosed, Vulcan Materials has been engaged in a NAFTA arbitration against Mexico over Mexico's repudiation of an agreement to unlock a portion of Vulcan's aggregates reserves in Mexico and the arbitrary shutdown of the company's quarrying operations in that country. Today, the NAFTA tribunal issued its decision in the arbitration. In the decision, the Tribunal found that Mexico violated NAFTA in several respects. However, the Tribunal's award of monetary damages to Vulcan for Mexico's violations was negligible. In accordance with applicable rules, the decision will remain confidential until publicly available.

Vulcan Materials Reports Q1 Revenue of $1.76B

Reports Q1 revenue $1.76B, consensus $1.62B. Ronnie Pruitt, Vulcan Materials' Chief Executive Officer, said, "The combination of our advantaged aggregates-led business and consistent focus on our strategic disciplines resulted in Adjusted EBITDA growth of 9 percent and margin expansion in the first quarter. Our strategy and execution, enhanced by innovation and technology, position us well to deliver strong earnings growth and cash generation. With this focus, and the financial strength and flexibility to grow, we will continue to drive sustainable value creation and win the future in aggregates."

Company Reiterates Full-Year Adjusted EBITDA Outlook of $2.4 to $2.6 Billion

Regarding the Company's outlook, CEO Pruitt said, "We reiterate our full-year outlook to deliver between $2.4 and $2.6 billion of Adjusted EBITDA. Our execution in the first quarter, in addition to a healthy backlog supported by large projects and public construction activity, gives us good momentum heading into the rest of the year. We continue to monitor the potential impacts from geopolitical uncertainty but, as always, will remain focused on what we can control to drive durable growth."