Vulcan Materials raises prices and widen profit margin
Vulcan Materials Company has raised prices to battle inflation after seeing losses in the year's first quarter. Unlike in other industries, Vulcan Materials saw expanding profit margin despite inflationary pressure. High levels of construction activity during early 2022 allowed Vulcan Materials to maintain demand for gravel while raising prices. The company forecasts the trend to continue and anticipates a higher profit margin in the upcoming years.
New ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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