Vulcan Materials Co (Holding Co) (NYSE:VMC) Q2 2020 Earnings Conference Call - Final Transcript

Aug 04, 2020 • 11:00 am ET


Vulcan Materials Co (Holding Co) (NYSE:VMC) Q2 2020 Earnings Conference Call - Final Transcript


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Good morning, ladies and gentlemen, and welcome to Vulcan Materials Company's Second Quarter Earnings Conference Call. My name is Christie, 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

Thank you, operator. Good morning to everyone and thank you for your interest in our company. With me today are Tom Hill, Chairman and CEO and Suzanne Wood, Senior Vice President and Chief Financial Officer.

Today's call is accompanied by a press release and a supplemental presentation posted to our website A recording of this call will be available for replay later today at our website. Please be reminded that comments regarding the Company's results and projections 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 and other information are available in both our earnings release and at the end of our supplemental presentation. As the operator indicated, please limit your Q&A participation to one question, plus a follow-up. This will help maximize participation during our time together.

With that, I will now turn the call over to Tom.

J. Thomas Hill

Thanks, Mark and thanks to everyone for joining the call today. We appreciate your interest in Vulcan Materials Company.

As always, but particularly in today's world, we hope you and your families are safe and healthy. In spite of the difficulties caused by the pandemic, our company is thriving, which demonstrates the strength of our people and of our core business. I'll take some time to comment on three accomplishments. First, our employees have continued to shine. I'm proud of how quickly they've adapted to rapidly changing environments. Since the start of the pandemic, they've shown again and again their flexibility, their tenacity and their commitment to everything from ensuring a safe workplace, to taking care of our customers. Our workforce is second to none and I appreciate everything they're doing to grow Vulcan Materials, regardless of challenges.

Second, our teams executed well on the operational and the financial contingency plans that we developed in the early days of the pandemic. Our approach was to identify, prioritize and focus on what we could control and did take the appropriate and decisive actions. At times like these, the ability to have vision, to make decisions quickly and accurately, and to execute effectively is critical. We continually review our location specific contingency plans and make the necessary adjustments, all the while sharing best practices across our network. The combination of these proactive plans, solid execution, good communication and the strength of our aggregates focus model, gives us confidence that we will continue to be successful.

And third, our strong second quarter and year-to-date results clearly demonstrate our ability to grow, our unit