Vulcan Materials Company (NYSE:VMC) Q3 2023 Earnings Call Transcript

On non res, it will be the speed of the big projects versus what happens with warehouses. So I think that those are kind of the puts and takes. I’m not sure that as far as the sequencing quarter to quarter, I think we got to do some work on that. But those will be the puts and takes of if we have the high end, the low end when we get to guidance in February.

Michael Feniger: Perfect. Thank you.

Tom Hill: Sure.

Operator: The next question comes from Rohit Seth with Seaport Research Partners. Please go ahead.

Rohit Seth: Hi. Good morning. Thanks for taking my question.

Tom Hill: Hi, Rohit.

Mary Andrews Carlisle: Morning.

Rohit Seth: Good morning. My question is on the Vulcan Way of Operating. You guys had mentioned on past calls that you had made some investments over the past couple of years. I know you touched on the logistics side, but I think there’s some plant-level stuff that you had in the works and we’re looking forward to potentially being needle movers in 2024. Do you still think those are going to be needle movers next year? And if you can help us think about what to expect and if you can quantify any impact, that’d be great.

Tom Hill: Yes. It’s really hard to quantify, particularly at this point, as those operating plans are being developed and will be presented to us in December. From a high level, we – the investment we did and the top probably 70% of our operating facilities or tons from a volume perspective, that investment is in place. Now, once you get it in place, you’ve got to get the technical piece for each plant has to come out. We’re working on that as we speak. I think we’ll be through that by the time we get to the first, second quarter of next year or at least mid-year next year. So we’ll see some marked improvements, I believe, in operating efficiencies, putting that to dollars and cents. That work is going on right now, and we won’t be done with it until December. So we’ll have to get back with you in February.

Rohit Seth: All right. Thank you.

Tom Hill: Thank you.

Operator: It appears we have no further questions at this time. I will now turn the program back over to our presenters for any additional remarks.

Tom Hill: Thank you very much for your interest in Vulcan Materials. We look forward to talking to you throughout the quarter. Please keep yourselves and your families safe and healthy. Thank you.

Operator: This does conclude today’s program. Thank you for your participation. You may disconnect at any time.