2024-02-16 14:40:02 ET
Vulcan Materials Company (VMC)
Q4 2023 Earnings Conference Call
February 16, 2024 11:00 AM ET
Company Participants
Mark Warren - VP, IR
Tom Hill - Chairman and CEO
Mary Andrews Carlisle - SVP and CFO
Conference Call Participants
Trey Grooms - Stephens
Stanley Elliott - Stifel
Kathryn Thompson - Thompson Research Group
Anthony Pettinari - Citigroup
Jerry Revich - Goldman Sachs
Philip Ng - Jefferies
Michael Feniger - Bank of America
Mike Dahl - RBC Capital Markets
Keith Hughes - Truist
Garik Shmois - Loop Capital
Angel Castillo - Morgan Stanley
Michael Dudas - Vertical Research
Brent Stillman - D.A. Davidson
Presentation
Operator
Please unmute your conference line Mr. Warren as we are not able to hear you.
Mark Warren
Thank you, operator. Let me start over operator and we will get started on the earnings call here. Thank you, operator. Good morning, everyone. With me today are Tom Hill, Chairman and CEO; and Mary Andrews Carlisle, Senior Vice President and Chief Financial Officer. Today's call is accompanied by a press release and a supplemental presentation posted to our website, vulcanmaterials.com.
Please be reminded that today's discussion 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 non-GAAP financial measures are defined and reconciled in our earnings release, our supplemental presentation, and other SEC filings. During the Q&A, we ask that you limit your participation to one question. This will allow us to accommodate as many as possible during our time we have available.
And with that, I'll turn the call over to Tom.
Tom Hill
Thank you, Mark, and thank all of you for your interest in Vulcan Materials company. Our teams delivered an outstanding year in 2023 and achieved two significant milestones. We generated over $2 billion in adjusted EBITDA and we surpassed $9 of aggregate cash gross profit per ton. We remained focused on continued growth, consistent execution and value creation for our shoulders.
Our fourth quarter results again demonstrated the benefits of that focus and our aggregates-led business. We delivered a 27% year-over-year improvement in adjusted EBITDA. Margin expansion in each of our three primary product lines and another 90 basis points of sequential improvement in our trailing 12 months return on invested capital. ...
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Vulcan Materials Company (VMC) Q4 2023 Earnings Call Transcript