Cemex
Cemex noted that second-quarter net sales in the U.S. were down 2 percent to $1.39 billion. Cemex’s EBITDA in the U.S. also dropped 2 percent in the quarter to $297 million.
Globally, Cemex says quarterly net sales were flat compared to the second quarter of 2023. Global net sales at Cemex totaled $4.49 billion in the second quarter.
The company says difficult weather conditions in key markets contributed to its results, although pricing momentum offset some of the impact.
Eagle Materials
Eagle Materials’ Michael Haack highlighted several positive trends for the business upon his company releasing its latest quarterly financial results.
“Underlying fundamentals in our markets continue to be favorable, and we expect demand for our products to remain steady for the balance of the year,” says Haack, president and CEO of Eagle Materials. “Construction spending on infrastructure and heavy industrial projects continues to drive cement demand. In addition, despite some interest rate sensitivity, residential construction activity remains resilient, given chronic housing supply shortages and continued underlying demand strength.”
Summit Materials
Meanwhile, at Summit Materials, the second quarter of 2024 was another strong one, with the company reporting a net revenue increase of 58.1 percent to $1.07 billion.
The increase follows an 89.9 percent increase Summit reported in the first quarter following its merger with Argos USA.
According to Summit, $464 million of quarterly net revenue was due to acquisitions – primarily the Argos USA transaction. This greatly offset its $46.6 million net revenue decrease related to divestitures. Organic prices increased across all business lines, the company adds.
Knife River
Knife River Corp. set several high marks in its second quarter, including records in revenue, gross profit and net income.
Knife River’s revenue in the second quarter was up 3 percent to $806.9 million, while its gross profit jumped 15 percent to $176.2 million. Second-quarter net income at Knife River was up 37 percent to $77.9 million.
Price increases in aggregates and contracting services drove revenue increases, according to the company.
Arcosa
Recent acquisitions boosted second-quarter revenues in Arcosa’s construction products business, but the company says quarterly revenues tied to organic aggregates and specialty materials were somewhat flat.
Second-quarter revenues in Arcosa’s construction products business increased 4 percent to $276.1 million. Still, organic volumes for the company’s aggregates business, which includes natural and recycled products, were impacted by unseasonably wet weather conditions during the quarter.
Higher pricing helped to offset lower organic volumes, the company says.
Granite Construction
Granite Construction’s materials segment experienced a series of gains in the second quarter, including in revenue and gross profit.
The materials segment’s revenue was up 10.3 percent in the quarter to $164.5 million. The segment’s gross profit jumped 22.6 percent in the quarter to $29.3 million.
Revenue from acquired businesses and increases in aggregate and asphalt pricing drove second-quarter increases, according to Granite.
Upon releasing its second-quarter financial results, Granite also shared that it had come to terms on a deal to acquire Dickerson & Bowen, a construction materials producer based in Brookhaven, Mississippi.
USLM
Lime and limestone revenues were up slightly in the second quarter at United States Lime & Minerals (USLM). As USLM describes, increases in average selling prices partially offset lower sales volumes. USLM says lime and limestone volumes are down this year due to decreased demand from its construction customers. USLM, however, says it’s experiencing increased demand for lime and limestone products from industrial and roof shingle customers.
Related: Latest Dodge report shows dramatic dip in construction starts
