Vulcan Materials Company (NYSE:VMC) Q4 2015 Earnings Conference Call - Final Transcript

Feb 04, 2016 • 11:00 am ET

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Vulcan Materials Company (NYSE:VMC) Q4 2015 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Welcome to the Vulcan Materials Company Fourth Quarter Earnings Call. My name is Bridgette, and I will be your conference call coordinator today. [Operator Instructions]

And now, I would like to turn the call over to your host, Mr. Mark Warren, Director of Investor Relations for Vulcan Materials. Mr. Warren, you may begin.

Executive
Mark Warren

Thank you, Bridgette.

Good morning, everyone, and thank you for your interest in Vulcan Materials Company. Joining me today for this call are Tom Hill, Chairman and CEO, and John McPherson, Executive Vice President, Chief Financial and Strategy Officer.

To facilitate our discussion today, we have made available during this webcast and on our website, supplemental information. Rather than walk through each slide as we've done in past calls, Tom and John will summarize the highlights of our fourth quarter results and outlook for 2016. We believe this approach will assist your analysis and will allow more time to respond to your questions.

With that said, please be reminded that comments regarding the company's results and projections may include forward-looking statements, which are subject to risks and uncertainties, including general economic and business conditions; the timing and amount of federal, state, and local funding for infrastructure; and the highly competitive nature of the construction materials industry. These and other risks and uncertainties are described in detail in the company's SEC reports, including our earnings release and our most recent Annual Report on Form 10-K.

In addition, during this call, management will refer to certain non-GAAP financial measures. You can find a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measure and other related information in our earnings release and at the end of the supplemental presentation.

Now, I would like to turn the call over to Vulcan's Chairman and Chief Executive Officer, Tom Hill.

Tom?

Executive
J. Thomas Hill

Thank you, Mark, and thank you all for joining us for our fourth quarter earnings call.

I hope you have had time to review our earnings release and the supplemental information posted earlier today on our website. As Mark mentioned, John and I will summarize the highlights of our fourth quarter results and the outlook for 2016. Then we will be happy to take your questions.

We remain highly focused on the fundamentals of our business at Vulcan, on the clear opportunities in front of us. Regardless of recent concerns that have swept through global securities markets, we are focused on the things that we control, and on our improving profitability. We have made a lot of progress over the last year and we have a good report for you today.

Aggregates volumes are up nicely. Pricing is positive. Our gross profit per-ton numbers continue to be really impressive. We are controlling our costs. But first, I would like to start the conversation by making three basic points. Number one, we finished the year strong. Our teams company-wide are executing our aggregate-focus strategy extremely well.

Second, I assure you that we will sustain this focus into 2016. We believe