The first quarter was tough for two leading U.S. construction aggregates producers, with high diesel fuel costs, record bad weather and slow-moving stimulus work combining to hammer revenue and profits for Vulcan Materials Co., Birmingham, Ala., and Martin Marietta Materials Inc., Raleigh, N.C. But both saw some improvement going into the second quarter and predict more stimulus demand by year’s end.
For the first quarter ended on March 31, Vulcan, the largest U.S. aggregates maker, reported on May 3 a $39-million loss—$6 million higher than for the same period in 2009. Shipments fell 14%, and revenue dropped 18% to $493 million.