Vulcan Materials Company's strategy is based on its strength in aggregates, which is an essential construction material. The company has the largest proven and probable aggregates reserve base in the United States. Vulcan is also strategically positioned, with assets located in states that represent a high percentage of projected U.S. population, household, and employment growth through 2020. Recent financial results demonstrate the company's operating leverage, with improved pricing, margins, and earnings across its business segments.
Vulcan Materials Company's strategy focuses on leveraging its strength in aggregates, which are essential materials for construction. The company has a leading market position in aggregates production in the United States, with operations in key states expected to see significant population growth. Vulcan aims to maximize future earnings growth through its strategically positioned reserves, operational expertise, and cost discipline. Recent financial results demonstrate the company's ability to improve profit margins and earnings through pricing increases and effective cost control, positioning it well for continued recovery in construction markets.
Goldman Sachs US Financial Services Conference 2017 presentation outlines Evercore's goal of becoming the most elite and respected independent investment bank. It discusses Evercore's differentiated platform of integrated capabilities across M&A advisory, capital markets, and investment management. The presentation also notes current supportive market conditions and Evercore's strategic expansion diversifying its geographic footprint and industry expertise to drive continued growth.
InfraREIT provided its 2016 full year results and supplemental information. It reported solid Q4 2016 performance with an increase in lease revenue and net income in line with expectations. Key highlights included strong growth in Sharyland's service territory with peak load and distribution volume increases, as well as ongoing projects with Hunt. InfraREIT is focused on regulated transmission and distribution opportunities within its footprint, maintaining a strong financial profile to support growth, and growing dividends.
Access Midstream Partners Investor Presentation - July 2013 Kprelosky
Headquartered in Oklahoma City, Access Midstream Partners is one of the largest midstream gathering companies in the U.S. with a diverse mix of gathering pipelines and facilities in the most attractive producing regions in North America.
Access Midstream has established a large-scale position in all of the key unconventional basins in the U.S. and has broad exposure to gathering opportunities in liquids-rich regions with extended access to the processing and fractionation segments of the midstream value chain. Access's diverse portfolio of assets are strategically located in 12 states that encompass the prolific Barnett, Eagle Ford, Haynesville, Marcellus, Niobrara and Utica shales, and Mid-Continent areas.
Access Midstream's gathering systems are comprised of more than 6,000 miles of active gathering and transmission lines and treating facilities that provide services to approximately 7,900 wells. Our assets gather approximately 3.5 billion cubic feet (Bcf) of natural gas per day, which we believe ranks us as the largest gathering and processing master limited partnership in the U.S.
Noble Energy held an analyst conference on December 6, 2012 to provide an overview and outlook of the company. The presentation contained forward-looking statements and definitions of non-GAAP measures, and noted key risks to Noble Energy's projections. It outlined Noble Energy's strategy of focusing on five core operating areas, converting discovered resources to production, testing exploration opportunities, and managing its portfolio. The presentation highlighted Noble Energy's expectations for substantial production, reserves, and cash flow growth between 2012 and 2017 driven by projects in its core areas delivering results.
constellation energy 2008 Third Quarter Supporting Materialsfinance12
This document is a presentation of Constellation Energy's Q3 2008 earnings. It discusses how the financial crisis impacted the company's access to capital markets and liquidity. It announces that Constellation Energy entered an agreement to be acquired by MidAmerican Energy Holdings Company to avoid a credit downgrade. The presentation discusses steps taken to reduce risk, including selling business units and lowering collateral requirements. It notes uncertainty around 2008-2009 earnings guidance due to market conditions and strategic changes.
US Foods provides a presentation on their business strategies and growth initiatives. They discuss their leading industry position serving independent restaurants, differentiated strategy focusing on product innovation and e-commerce, and track record of 10 consecutive quarters of independent restaurant volume growth. US Foods aims to improve margins, reduce operating expenses, and grow volume with targeted customers to achieve 7-10% adjusted EBITDA growth. The company is led by a seasoned leadership team with significant prior experience at US Foods.
constellation energy Q2 2008 Earnings Presentation 2008 Second Quarterfinance12
Constellation Energy held an earnings presentation on July 31, 2008 to report on its second quarter 2008 financial results. The presentation included forward-looking statements and noted that non-GAAP financial measures would be used. Constellation Energy reported adjusted earnings per share for the second quarter of 2008 but did not provide the specific adjusted EPS number, noting it excludes special items, economic hedges, synfuel earnings, and other adjustments in order to provide a comparable view of results between periods. The Vice President of Investor Relations then introduced the Chairman, President and CEO to present further details on the company's financial performance and outlook.
Vulcan Materials Company's strategy focuses on leveraging its strength in aggregates, which are essential materials for construction. The company has a leading market position in aggregates production in the United States, with operations in key states expected to see significant population growth. Vulcan aims to maximize future earnings growth through its strategically positioned reserves, operational expertise, and cost discipline. Recent financial results demonstrate the company's ability to improve profit margins and earnings through pricing increases and effective cost control, positioning it well for continued recovery in construction markets.
Goldman Sachs US Financial Services Conference 2017 presentation outlines Evercore's goal of becoming the most elite and respected independent investment bank. It discusses Evercore's differentiated platform of integrated capabilities across M&A advisory, capital markets, and investment management. The presentation also notes current supportive market conditions and Evercore's strategic expansion diversifying its geographic footprint and industry expertise to drive continued growth.
InfraREIT provided its 2016 full year results and supplemental information. It reported solid Q4 2016 performance with an increase in lease revenue and net income in line with expectations. Key highlights included strong growth in Sharyland's service territory with peak load and distribution volume increases, as well as ongoing projects with Hunt. InfraREIT is focused on regulated transmission and distribution opportunities within its footprint, maintaining a strong financial profile to support growth, and growing dividends.
Access Midstream Partners Investor Presentation - July 2013 Kprelosky
Headquartered in Oklahoma City, Access Midstream Partners is one of the largest midstream gathering companies in the U.S. with a diverse mix of gathering pipelines and facilities in the most attractive producing regions in North America.
Access Midstream has established a large-scale position in all of the key unconventional basins in the U.S. and has broad exposure to gathering opportunities in liquids-rich regions with extended access to the processing and fractionation segments of the midstream value chain. Access's diverse portfolio of assets are strategically located in 12 states that encompass the prolific Barnett, Eagle Ford, Haynesville, Marcellus, Niobrara and Utica shales, and Mid-Continent areas.
Access Midstream's gathering systems are comprised of more than 6,000 miles of active gathering and transmission lines and treating facilities that provide services to approximately 7,900 wells. Our assets gather approximately 3.5 billion cubic feet (Bcf) of natural gas per day, which we believe ranks us as the largest gathering and processing master limited partnership in the U.S.
Noble Energy held an analyst conference on December 6, 2012 to provide an overview and outlook of the company. The presentation contained forward-looking statements and definitions of non-GAAP measures, and noted key risks to Noble Energy's projections. It outlined Noble Energy's strategy of focusing on five core operating areas, converting discovered resources to production, testing exploration opportunities, and managing its portfolio. The presentation highlighted Noble Energy's expectations for substantial production, reserves, and cash flow growth between 2012 and 2017 driven by projects in its core areas delivering results.
constellation energy 2008 Third Quarter Supporting Materialsfinance12
This document is a presentation of Constellation Energy's Q3 2008 earnings. It discusses how the financial crisis impacted the company's access to capital markets and liquidity. It announces that Constellation Energy entered an agreement to be acquired by MidAmerican Energy Holdings Company to avoid a credit downgrade. The presentation discusses steps taken to reduce risk, including selling business units and lowering collateral requirements. It notes uncertainty around 2008-2009 earnings guidance due to market conditions and strategic changes.
US Foods provides a presentation on their business strategies and growth initiatives. They discuss their leading industry position serving independent restaurants, differentiated strategy focusing on product innovation and e-commerce, and track record of 10 consecutive quarters of independent restaurant volume growth. US Foods aims to improve margins, reduce operating expenses, and grow volume with targeted customers to achieve 7-10% adjusted EBITDA growth. The company is led by a seasoned leadership team with significant prior experience at US Foods.
constellation energy Q2 2008 Earnings Presentation 2008 Second Quarterfinance12
Constellation Energy held an earnings presentation on July 31, 2008 to report on its second quarter 2008 financial results. The presentation included forward-looking statements and noted that non-GAAP financial measures would be used. Constellation Energy reported adjusted earnings per share for the second quarter of 2008 but did not provide the specific adjusted EPS number, noting it excludes special items, economic hedges, synfuel earnings, and other adjustments in order to provide a comparable view of results between periods. The Vice President of Investor Relations then introduced the Chairman, President and CEO to present further details on the company's financial performance and outlook.
QTS Realty Trust presented its fourth quarter and full year 2020 earnings results. Key highlights included:
- Signed leasing activity in Q4 2020 was the highest on record for QTS and 40% higher than the prior year annual level.
- Full year 2020 revenue increased 12% year-over-year to $539 million.
- Adjusted EBITDA for 2020 was $299 million, an increase of 12% compared to the previous year.
- 2021 guidance projects revenue growth of 12% and adjusted EBITDA growth also of 12% compared to 2020 results.
- QTS' development pipeline includes over 300 megawatts of new and expansion capital projects in 2021, primarily tied to signed le
03 09-15 march investor presentation finalAES_BigSky
This document discusses The AES Corporation's value proposition and future growth outlook. It notes that AES has taken steps to mitigate challenges like currency and commodity changes that reduced 2015 EPS guidance. It highlights the management's track record of improving profitability and allocating capital efficiently. The presentation outlines a largely funded construction program that is expected to drive 6-8% annual EPS growth in 2017-2018. It also forecasts 10-15% annual free cash flow growth from 2015-2018 and an average EPS growth rate of around 5% annually over this period. The document positions AES as offering an attractive free cash flow valuation and competitive dividend with above-average growth potential.
constellation energy Q1 2008 Earnings Presentation 2008 First Quarterfinance12
The document was Constellation Energy's first quarter 2008 earnings presentation. It discussed adjusted EPS for Q1 2008 of $0.95 per share, down from $1.03 in Q1 2007. Key highlights included continued generation earnings growth, strong nuclear performance, filing for a new nuclear plant, and a settlement in Maryland resolving regulatory issues. It also noted a significant increase in energy commodity prices such as oil and coal.
- Owens Corning presented at investor events in May 2017 to discuss its Q2 2017 performance and focus on shareholder value.
- The presentation discussed Owens Corning's three business segments: Insulation, Roofing, and Composites, and emphasized its leadership positions, attractive end markets, and focus on improving margins, earnings, cash flow, and return on capital through portfolio improvements.
- Owens Corning has demonstrated significant improvement in its financial profile and cash flow generation over the past several years through repositioning its business portfolio.
QTS reported strong first quarter 2020 financial results, with revenue growth of 8.5% and adjusted EBITDA growth of 13.5% outpacing revenue. Leasing activity was driven by continued hyperscale strength as well as steady enterprise demand, with Q1 leasing 15% above the prior four quarter average. QTS remains focused on the safety of employees and customers during the COVID-19 pandemic while maintaining business continuity and operational resilience across its data centers.
The document provides an overview of InfraREIT's recent performance and events. Some key points:
- InfraREIT reached agreements for an asset exchange transaction with Oncor and proposed dismissal of a rate case.
- InfraREIT reported solid Q2 2017 performance with increases in lease revenue and net income. Non-GAAP metrics were consistent with prior year.
- The asset exchange and rate case dismissal are expected to close simultaneously in Q4 2017 pending required regulatory approvals.
Apx group fourth quarter and full year 2013 earnings call presentationvivintIR
APX Group Holdings reported financial and operating highlights for Q4 and full year 2013. Key highlights included:
- For Q4, revenue increased 24% year-over-year to $292 million and adjusted EBITDA grew 19% to $80 million.
- For the full year, total subscribers grew 21% to over 795,000, revenue increased 10% to $501 million, and adjusted EBITDA rose 25% to $132 million.
- Vivint, APX's primary operating business, saw revenue increase 9% for the full year to $483 million and adjusted EBITDA grow 25% to $292 million. Operating cash flow at Vivint was $283 million, representing a
04 15-15 april investor presentation wc-finalAES_BigSky
This document provides an overview of The AES Corporation, including its business operations, portfolio, financial guidance, and growth strategy. Key points include: AES operates in 6 strategic business units across 21 countries, with 34,732 MW of power generation capacity. For 2015, AES expects adjusted EPS of $1.25-$1.35 driven by new businesses coming online, despite currency and commodity headwinds. Beyond 2015, AES expects average annual adjusted EPS growth of 6-8% through 2018 from its $1.5 billion construction program that is already 70% funded.
- Aon plc reported its second quarter 2017 results on August 4, 2017, with Greg Case, CEO, and Christa Davies, CFO, presenting.
- Key metrics showed strong operational performance, with 3% organic revenue growth, a 110 basis point increase in operating margin to 22.4%, and 13% growth in earnings per share to $1.45.
- Aon is accelerating its strategy of providing risk, retirement, and health solutions using proprietary data and analytics to empower clients, having divested outsourcing businesses to focus on advice and solutions.
The document is Devon Energy's September 2018 investor presentation. It highlights Devon's $4 billion share repurchase program, the largest ever by an E&P company. It also discusses Devon's 2020 vision of enhancing returns through disciplined capital investment and portfolio simplification efforts. Devon expects to exceed its $5 billion divestiture target by the end of 2018. The presentation provides operational and financial updates, including Devon's outlook for significant cash flow growth driven by its high-margin U.S. oil portfolio.
The document provides an investor update from Finning International, a heavy equipment dealer. It discusses Finning's business outlook and priorities. Finning operates in three regions - Canada, South America, and the UK/Ireland. It aims to grow market share and improve operational efficiencies in areas like service excellence, supply chain management, and talent development. Finning also highlights its response to recent economic downturns, focus on safety, and progress in strengthening its financial position and balance sheet.
InfraREIT reported its Q2 2017 results with the following highlights:
- Revenue and net income increased 20% and 10% respectively due to rate case outcomes.
- Non-GAAP metrics like EPS of $0.20 and CAD of $13.6 million were consistent with or up from prior year.
- The company reached agreements to exchange $400 million in distribution assets for $380 million in transmission assets from Oncor and dismiss ongoing rate cases, pending approvals.
- The footprint shift and agreements are expected to provide a more stable regulatory environment and increased investment opportunities going forward.
The document presents an investor review for an organization, noting that it contains forward-looking statements about plans, expectations, and intentions that involve risks and uncertainties, and provides an overview of the company's significant value creating opportunity, recent platform wins that validate its strategy, and diversified revenue streams and expanding profitability.
OC Roadshow Hosted by Wells Fargo – Montreal / TorontoCorning_Owens
This presentation discusses Owens Corning's third quarter 2017 performance with a focus on shareholder value. It provides an overview of the company, which operates three businesses: Insulation, Roofing, and Composites. Owens Corning has improved its portfolio and financial profile in recent years through cost reductions, acquisitions, and serving market needs. It maintains a disciplined capital allocation strategy and strong cash flow outlook.
The document is Devon Energy's August 2018 investor presentation. It highlights Devon's focus on its Delaware and STACK assets which have over 30,000 potential locations combined, providing a multi-decade growth platform. Devon's 2020 vision is to enhance returns through disciplined capital investment, simplify its portfolio through divestitures exceeding $5 billion, improve its financial strength, and return cash to shareholders. Key initiatives include a $4 billion share repurchase program and increasing its quarterly dividend by 33%.
Wells Fargo Real Estate Securities Conference – New YorkCorning_Owens
This presentation summarizes Owens Corning's performance in Q1 2017. It was shared at investor conferences in February and March 2017. Owens Corning has three strong businesses - Insulation, Roofing, and Composites - and is focused on delivering shareholder value. Through portfolio improvements like acquisitions and cost reductions, the company has increased margins, return on capital, and free cash flow in recent years. Owens Corning believes its businesses are well positioned with attractive macroeconomic drivers and opportunities for further growth.
This document provides an overview of Aon plc for investors. It discusses Aon's industry-leading risk, retirement, and health solutions franchise operating in growing global markets. It highlights how Aon has focused its portfolio, invested in global capabilities, and made progress towards long-term operational targets while delivering strong financial results and total shareholder returns that have outperformed peers and market indices. The document also outlines the substantial opportunity for further value creation through significantly increasing free cash flow generation given Aon's strong financial flexibility and ability to effectively allocate capital to maximize returns.
This document provides an overview of Aon plc for investors. It discusses Aon's industry-leading risk, retirement, and health solutions franchise operating in growing global markets. It highlights how Aon has focused its portfolio, invested in global capabilities, and made progress towards long-term operational targets while delivering strong financial results and total shareholder returns that have outperformed peers and market indices. The document also outlines the substantial opportunity for further value creation through significantly increasing free cash flow generation, having strong financial flexibility to effectively allocate growing free cash flows to maximize total shareholder return.
- Vulcan Materials Company is the leading aggregates producer in the US, with 95% of its sales tied to aggregates. Its strategy focuses on leveraging its large, strategically located aggregates reserves and operational expertise.
- The company has demonstrated operating leverage in recent years through margin expansion and earnings growth despite flat revenues, driven by higher pricing and effective cost control. Profitability on a per ton basis has increased and is higher than peak volumes.
- Vulcan has derisked its balance sheet through generating cash from operations, asset sales, and having limited near-term debt maturities, providing financial and operational flexibility.
Vulcan Materials Company's strategy focuses on leveraging its strength in aggregates, which are essential materials for construction. The company has a leading market position in aggregates production in the United States, with operations in key states expected to see significant population growth. Vulcan aims to maximize future earnings growth through its strategically positioned reserves, operational expertise, and cost discipline. Recent financial results demonstrate the company's ability to improve profitability through pricing increases and cost control, even with flat revenues.
Vulcan Materials' strategy focuses on leveraging its strength in aggregates, which are essential construction materials. The company has the largest proven reserves of aggregates and operates in markets that represent a high percentage of US population and economic growth. Vulcan aims to maximize long-term earnings growth through strong operational performance, cost controls, and strategic positioning in attractive regions.
This 3-sentence summary provides the high-level information from the investor presentation document:
The document is an investor presentation that outlines Vulcan Materials Company's strategy of focusing on aggregates production through their large reserve base and coastal footprint in high-growth regions. It discusses how their operational expertise and pricing discipline has led to attractive unit profitability and margin expansion, positioning them for continued earnings growth. The presentation also provides financial results showing increased sales, margins, and earnings through 2012 and 2013 YTD, as well as details on their balance sheet and cash flow.
QTS Realty Trust presented its fourth quarter and full year 2020 earnings results. Key highlights included:
- Signed leasing activity in Q4 2020 was the highest on record for QTS and 40% higher than the prior year annual level.
- Full year 2020 revenue increased 12% year-over-year to $539 million.
- Adjusted EBITDA for 2020 was $299 million, an increase of 12% compared to the previous year.
- 2021 guidance projects revenue growth of 12% and adjusted EBITDA growth also of 12% compared to 2020 results.
- QTS' development pipeline includes over 300 megawatts of new and expansion capital projects in 2021, primarily tied to signed le
03 09-15 march investor presentation finalAES_BigSky
This document discusses The AES Corporation's value proposition and future growth outlook. It notes that AES has taken steps to mitigate challenges like currency and commodity changes that reduced 2015 EPS guidance. It highlights the management's track record of improving profitability and allocating capital efficiently. The presentation outlines a largely funded construction program that is expected to drive 6-8% annual EPS growth in 2017-2018. It also forecasts 10-15% annual free cash flow growth from 2015-2018 and an average EPS growth rate of around 5% annually over this period. The document positions AES as offering an attractive free cash flow valuation and competitive dividend with above-average growth potential.
constellation energy Q1 2008 Earnings Presentation 2008 First Quarterfinance12
The document was Constellation Energy's first quarter 2008 earnings presentation. It discussed adjusted EPS for Q1 2008 of $0.95 per share, down from $1.03 in Q1 2007. Key highlights included continued generation earnings growth, strong nuclear performance, filing for a new nuclear plant, and a settlement in Maryland resolving regulatory issues. It also noted a significant increase in energy commodity prices such as oil and coal.
- Owens Corning presented at investor events in May 2017 to discuss its Q2 2017 performance and focus on shareholder value.
- The presentation discussed Owens Corning's three business segments: Insulation, Roofing, and Composites, and emphasized its leadership positions, attractive end markets, and focus on improving margins, earnings, cash flow, and return on capital through portfolio improvements.
- Owens Corning has demonstrated significant improvement in its financial profile and cash flow generation over the past several years through repositioning its business portfolio.
QTS reported strong first quarter 2020 financial results, with revenue growth of 8.5% and adjusted EBITDA growth of 13.5% outpacing revenue. Leasing activity was driven by continued hyperscale strength as well as steady enterprise demand, with Q1 leasing 15% above the prior four quarter average. QTS remains focused on the safety of employees and customers during the COVID-19 pandemic while maintaining business continuity and operational resilience across its data centers.
The document provides an overview of InfraREIT's recent performance and events. Some key points:
- InfraREIT reached agreements for an asset exchange transaction with Oncor and proposed dismissal of a rate case.
- InfraREIT reported solid Q2 2017 performance with increases in lease revenue and net income. Non-GAAP metrics were consistent with prior year.
- The asset exchange and rate case dismissal are expected to close simultaneously in Q4 2017 pending required regulatory approvals.
Apx group fourth quarter and full year 2013 earnings call presentationvivintIR
APX Group Holdings reported financial and operating highlights for Q4 and full year 2013. Key highlights included:
- For Q4, revenue increased 24% year-over-year to $292 million and adjusted EBITDA grew 19% to $80 million.
- For the full year, total subscribers grew 21% to over 795,000, revenue increased 10% to $501 million, and adjusted EBITDA rose 25% to $132 million.
- Vivint, APX's primary operating business, saw revenue increase 9% for the full year to $483 million and adjusted EBITDA grow 25% to $292 million. Operating cash flow at Vivint was $283 million, representing a
04 15-15 april investor presentation wc-finalAES_BigSky
This document provides an overview of The AES Corporation, including its business operations, portfolio, financial guidance, and growth strategy. Key points include: AES operates in 6 strategic business units across 21 countries, with 34,732 MW of power generation capacity. For 2015, AES expects adjusted EPS of $1.25-$1.35 driven by new businesses coming online, despite currency and commodity headwinds. Beyond 2015, AES expects average annual adjusted EPS growth of 6-8% through 2018 from its $1.5 billion construction program that is already 70% funded.
- Aon plc reported its second quarter 2017 results on August 4, 2017, with Greg Case, CEO, and Christa Davies, CFO, presenting.
- Key metrics showed strong operational performance, with 3% organic revenue growth, a 110 basis point increase in operating margin to 22.4%, and 13% growth in earnings per share to $1.45.
- Aon is accelerating its strategy of providing risk, retirement, and health solutions using proprietary data and analytics to empower clients, having divested outsourcing businesses to focus on advice and solutions.
The document is Devon Energy's September 2018 investor presentation. It highlights Devon's $4 billion share repurchase program, the largest ever by an E&P company. It also discusses Devon's 2020 vision of enhancing returns through disciplined capital investment and portfolio simplification efforts. Devon expects to exceed its $5 billion divestiture target by the end of 2018. The presentation provides operational and financial updates, including Devon's outlook for significant cash flow growth driven by its high-margin U.S. oil portfolio.
The document provides an investor update from Finning International, a heavy equipment dealer. It discusses Finning's business outlook and priorities. Finning operates in three regions - Canada, South America, and the UK/Ireland. It aims to grow market share and improve operational efficiencies in areas like service excellence, supply chain management, and talent development. Finning also highlights its response to recent economic downturns, focus on safety, and progress in strengthening its financial position and balance sheet.
InfraREIT reported its Q2 2017 results with the following highlights:
- Revenue and net income increased 20% and 10% respectively due to rate case outcomes.
- Non-GAAP metrics like EPS of $0.20 and CAD of $13.6 million were consistent with or up from prior year.
- The company reached agreements to exchange $400 million in distribution assets for $380 million in transmission assets from Oncor and dismiss ongoing rate cases, pending approvals.
- The footprint shift and agreements are expected to provide a more stable regulatory environment and increased investment opportunities going forward.
The document presents an investor review for an organization, noting that it contains forward-looking statements about plans, expectations, and intentions that involve risks and uncertainties, and provides an overview of the company's significant value creating opportunity, recent platform wins that validate its strategy, and diversified revenue streams and expanding profitability.
OC Roadshow Hosted by Wells Fargo – Montreal / TorontoCorning_Owens
This presentation discusses Owens Corning's third quarter 2017 performance with a focus on shareholder value. It provides an overview of the company, which operates three businesses: Insulation, Roofing, and Composites. Owens Corning has improved its portfolio and financial profile in recent years through cost reductions, acquisitions, and serving market needs. It maintains a disciplined capital allocation strategy and strong cash flow outlook.
The document is Devon Energy's August 2018 investor presentation. It highlights Devon's focus on its Delaware and STACK assets which have over 30,000 potential locations combined, providing a multi-decade growth platform. Devon's 2020 vision is to enhance returns through disciplined capital investment, simplify its portfolio through divestitures exceeding $5 billion, improve its financial strength, and return cash to shareholders. Key initiatives include a $4 billion share repurchase program and increasing its quarterly dividend by 33%.
Wells Fargo Real Estate Securities Conference – New YorkCorning_Owens
This presentation summarizes Owens Corning's performance in Q1 2017. It was shared at investor conferences in February and March 2017. Owens Corning has three strong businesses - Insulation, Roofing, and Composites - and is focused on delivering shareholder value. Through portfolio improvements like acquisitions and cost reductions, the company has increased margins, return on capital, and free cash flow in recent years. Owens Corning believes its businesses are well positioned with attractive macroeconomic drivers and opportunities for further growth.
This document provides an overview of Aon plc for investors. It discusses Aon's industry-leading risk, retirement, and health solutions franchise operating in growing global markets. It highlights how Aon has focused its portfolio, invested in global capabilities, and made progress towards long-term operational targets while delivering strong financial results and total shareholder returns that have outperformed peers and market indices. The document also outlines the substantial opportunity for further value creation through significantly increasing free cash flow generation given Aon's strong financial flexibility and ability to effectively allocate capital to maximize returns.
This document provides an overview of Aon plc for investors. It discusses Aon's industry-leading risk, retirement, and health solutions franchise operating in growing global markets. It highlights how Aon has focused its portfolio, invested in global capabilities, and made progress towards long-term operational targets while delivering strong financial results and total shareholder returns that have outperformed peers and market indices. The document also outlines the substantial opportunity for further value creation through significantly increasing free cash flow generation, having strong financial flexibility to effectively allocate growing free cash flows to maximize total shareholder return.
- Vulcan Materials Company is the leading aggregates producer in the US, with 95% of its sales tied to aggregates. Its strategy focuses on leveraging its large, strategically located aggregates reserves and operational expertise.
- The company has demonstrated operating leverage in recent years through margin expansion and earnings growth despite flat revenues, driven by higher pricing and effective cost control. Profitability on a per ton basis has increased and is higher than peak volumes.
- Vulcan has derisked its balance sheet through generating cash from operations, asset sales, and having limited near-term debt maturities, providing financial and operational flexibility.
Vulcan Materials Company's strategy focuses on leveraging its strength in aggregates, which are essential materials for construction. The company has a leading market position in aggregates production in the United States, with operations in key states expected to see significant population growth. Vulcan aims to maximize future earnings growth through its strategically positioned reserves, operational expertise, and cost discipline. Recent financial results demonstrate the company's ability to improve profitability through pricing increases and cost control, even with flat revenues.
Vulcan Materials' strategy focuses on leveraging its strength in aggregates, which are essential construction materials. The company has the largest proven reserves of aggregates and operates in markets that represent a high percentage of US population and economic growth. Vulcan aims to maximize long-term earnings growth through strong operational performance, cost controls, and strategic positioning in attractive regions.
This 3-sentence summary provides the high-level information from the investor presentation document:
The document is an investor presentation that outlines Vulcan Materials Company's strategy of focusing on aggregates production through their large reserve base and coastal footprint in high-growth regions. It discusses how their operational expertise and pricing discipline has led to attractive unit profitability and margin expansion, positioning them for continued earnings growth. The presentation also provides financial results showing increased sales, margins, and earnings through 2012 and 2013 YTD, as well as details on their balance sheet and cash flow.
- The company's strategy focuses on leveraging its strength in aggregates, which are essential materials and valuable assets.
- The presentation contains forward-looking statements and important disclosure notes about the risks and uncertainties in the company's projections.
- Financial results for 2013 show continued improvement in earnings and profitability compared to 2012, including increased EPS, cash earnings, and EBITDA.
Vulcan Materials reported first quarter 2013 earnings results. Key highlights included aggregates shipments and pricing in line with expectations, and improved profitability in non-aggregates segments. The outlook for 2013 anticipates continued recovery in private construction leading to 1-5% growth in aggregates volumes and 4% increase in aggregates pricing. Earnings improvement is expected across all business segments.
This presentation provides an overview of TransAlta Corporation, a power generator and marketer. Key points include:
- TransAlta has over 100 years of experience and a diversified portfolio of over 9,000 MW of generation capacity across Canada, the US, and Australia.
- The company has a proven track record of growth, having added over 1,700 MW since 2005, and sees potential for further expansion in strong markets.
- TransAlta aims to deliver shareholder value through a combination of dividend yield and growth. The company expects to generate $40-60 million in additional annual EBITDA through initiatives like the recently acquired Solomon Power Project in Australia.
- Significant upside is expected
Vmc Investor Day Management Presentation 2015VulcanMaterials
The document provides an overview of Vulcan Materials' investor day presentation on February 25, 2015. It begins with introductory remarks and a safe harbor statement. The presentation then focuses on Vulcan's core values of safety, health, environmental leadership and respect. It reviews Vulcan's performance during the decline, turnaround and early recovery stages of the construction cycle. The presentation outlines Vulcan's goals of achieving $2 billion in EBITDA and over 255 million tons of aggregates shipments at normal demand levels. It identifies key drivers to reach these goals including volume growth, pricing increases, operating efficiency, sales and production mix improvements and reducing selling, administrative and general expenses. The presentation emphasizes Vulcan's focus on execution through sales
The document discusses Morgan Stanley's MLP Bus Tour and provides an overview of EnLink Midstream. It notes that EnLink has stable cash flows from long-term fee-based contracts, including a significant portion from its sponsor Devon Energy. It is focused on executing in its core areas of Oklahoma, Permian Basin, and Louisiana. EnLink has a strong financial position as an investment grade company with a $1.5 billion credit facility and high-quality customers.
The document summarizes EnLink's operations report for August 2016. Key points include:
- EnLink revised 2016 guidance, increased adjusted EBITDA to $750-800 million.
- Q2 2016 results showed adjusted EBITDA of $187.4 million and cash available for distribution of $49.8 million.
- EnLink continues focus on core strategies of maximizing cash flows, executing growth projects, and providing best-in-basin service.
The document provides an operations report for August 3, 2016 that contains forward-looking statements and non-GAAP financial measures. It discusses key risks and uncertainties that could impact financial and operational results. It also contains disclaimers around the use of non-SEC compliant resource estimates and non-GAAP measures, urging investors to consider disclosures in SEC filings.
EnLink Midstream / Tall Oak Midstream Acquisition Investor CallEnLinkMidstreamLLC
Tall Oak Midstream is acquiring assets in Oklahoma that will expand EnLink Midstream's presence in the core of the STACK and CNOW plays. The acquisition aligns with Devon Energy, who will be the largest customer on the system. It provides EnLink with long-term, fee-based contracts averaging 15 years. The financing structure is expected to be accretive to EnLink's distributions and maintain its investment grade credit rating. The transaction strengthens the relationship between EnLink and Devon while diversifying their businesses and further aligning their growth plans.
Zep Inc. held an investor presentation in August 2014 to provide an overview of the company and its financial performance. The presentation contained the following key points:
- Zep sells highly effective chemicals and products for maintenance, cleaning, and protection across various markets. It focuses on transportation, industrial/MRO, and janitorial/sanitation industries.
- The company has experienced strong revenue growth through acquisitions completed since 2009. It has also improved EBITDA margins and return on invested capital.
- Zep generates consistent cash flow that it uses to fund operations and debt payments. However, a recent fire at its aerosol plant may impact sales and costs in the near future until production is
The document discusses Regal Beloit Corporation, a global manufacturer of electric motors and mechanical motion control products. It summarizes Regal's financial performance, growth strategies, and acquisition of EPC, which expanded its product portfolio and geographic presence. Regal expects $35 million in annual synergies from the EPC acquisition through facility rationalization, material consolidation, and other measures. The company has a track record of consistent growth, financial performance on par with industrial peers, and expanding globally through acquisitions.
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2. 2Investor Presentation, August 12, 2013
Important Disclosure Notes
This presentation contains forward-looking statements. Statements that are not historical fact, including statements about Vulcan's beliefs and
expectations, are forward-looking statements. Generally, these statements relate to future financial performance, results of operations, business
plans or strategies, projected or anticipated revenues, expenses, earnings (including EBITDA and other measures), dividend policy, shipment
volumes, pricing, levels of capital expenditures, intended cost reductions and cost savings, anticipated profit improvements and/or planned
divestitures and asset sales. These forward-looking statements are sometimes identified by the use of terms and phrases such as "believe,"
"should," "would," "expect," "project," "estimate," "anticipate," "intend," "plan," "will," "can," "may" or similar expressions elsewhere in this document.
These statements are subject to numerous risks, uncertainties, and assumptions, including but not limited to general business conditions, competitive
factors, pricing, energy costs, and other risks and uncertainties discussed in the reports Vulcan periodically files with the SEC.
Forward-looking statements are not guarantees of future performance and actual results, developments, and business decisions may vary
significantly from those expressed in or implied by the forward-looking statements. The following risks related to Vulcan's business, among others,
could cause actual results to differ materially from those described in the forward-looking statements: risks that Vulcan's intentions, plans and results
with respect to cost reductions, profit enhancements and asset sales, as well as streamlining and other strategic actions adopted by Vulcan, will not
be able to be realized to the desired degree or within the desired time period and that the results thereof will differ from those anticipated or desired;
uncertainties as to the timing and valuations that may be realized or attainable with respect to planned asset sales; those associated with general
economic and business conditions; the timing and amount of federal, state and local funding for infrastructure; the effects of the sequestration on
demand for our products in markets that may be subject to decreases in federal spending; changes in Vulcan’s effective tax rate; the increasing
reliance on technology infrastructure for Vulcan’s ticketing, procurement, financial statements and other processes could adversely affect operations
in the event such infrastructure does not work as intended or experiences technical difficulties; the impact of the state of the global economy on
Vulcan’s businesses and financial condition and access to capital markets; changes in the level of spending for private residential and private
nonresidential construction; the highly competitive nature of the construction materials industry; the impact of future regulatory or legislative actions;
the outcome of pending legal proceedings; pricing of Vulcan's products; weather and other natural phenomena; energy costs; costs of hydrocarbon-
based raw materials; healthcare costs; the amount of long-term debt and interest expense incurred by Vulcan; changes in interest rates; the impact of
Vulcan's below investment grade debt rating on Vulcan's cost of capital; volatility in pension plan asset values which may require cash contributions
to the pension plans; the impact of environmental clean-up costs and other liabilities relating to previously divested businesses; Vulcan's ability to
secure and permit aggregates reserves in strategically located areas; Vulcan's ability to manage and successfully integrate acquisitions; the potential
of goodwill or long-lived asset impairment; the potential impact of future legislation or regulations relating to climate change or greenhouse gas
emissions or the definition of minerals; and other assumptions, risks and uncertainties detailed from time to time in the reports filed by Vulcan with the
SEC. All forward-looking statements in this communication are qualified in their entirety by this cautionary statement. Vulcan disclaims and does not
undertake any obligation to update or revise any forward-looking statement in this document except as required by law. .
3. 3Investor Presentation, August 12, 2013
Company Snapshot
Value Proposition Based on Our Leading Position in Aggregates
95%
2012 Net Sales: $2.4 Billion Aggregates Facilities: 341
Headquarters: Birmingham, AL Ticker: VMC
Company 2012 10-K Report
Vulcan-Served States Our value proposition and
leading position is based
upon…
1. Favorable geographic footprint
that provides attractive long-term
growth prospects
2. Largest proven and probable
reserve base
3. Operational expertise and
pricing discipline which provides
attractive unit profitability
4. 4Investor Presentation, August 12, 2013
Positioning the Business to Maximize Future Earnings Growth
Strategically
Positioned
Leading
Reserve
Position
Unit
Profitability
Continues to
Grow
75%
Share of U.S.
Population
Growth
27%
Higher than
peak-year in
volumes
15.0
Billion Tons of
Aggregates
Reserves
Source: Company 2012 10-K Report. As of December 31, 2012 . Unit Profitability = Cash Gross Profit / Ton. See Non-GAAP reconciliation at end of presentation.
5. 5Investor Presentation, August 12, 2013
Aggregates-Led Value Creation
95%
Build and Hold Substantial Reserves
Used in virtually all types of public and private construction projects
Strategically located in high-growth markets that will require large
amounts of aggregates to meet construction demand
Aggregates operations require virtually no other raw material other
than aggregates reserves
Coast-to-coast Footprint
Diversified regional exposure
Complementary asphalt, concrete and cement businesses in select
markets
More opportunities to manage portfolio of locations to further enhance
long-term earnings growth
Profitable Growth
Tightly managed operational and overhead costs
Benefits of scale as the largest producer
Effective Land Management
Can lead to attractive real estate transactions
95%
Sales Tied to
Aggregates
6. 6Investor Presentation, August 12, 2013
CA, FL and TX accounted for more than 40% of total sales in 2012. Source: Moody’s Analytics as of June 2013
Share of Total U.S. Growth – 2010 to 2020
Vulcan’s Aggregates Assets are Strategically Positioned in Attractive Markets
VMC-Served States
74%
Population Growth
69%
62%
Household Formation
Employment Growth
CA,FL,TX
38%
43%
33%
7. 7Investor Presentation, August 12, 2013
$4.01
$4.21
2011 2012
17.7%
20.4%
2011 2012
11.8%
13.9%
2011 2012
14.6%
17.1%
2011 2012
Most Recent Full Year Financial Results Demonstrate Operating Leverage
Increase in Profitability Driven by Higher Pricing and Effective Cost Control
Note: Please see Non-GAAP reconciliations at the end of this presentation. Aggregates Gross Profit Margin calculated using Segment Total Revenues.
Adjusted EBITDA Margin
Aggregates Cash Gross Profit per Ton
Gross Profit Margin
Aggregates Gross Profit Margin
8. 8Investor Presentation, August 12, 2013
Current Year Financial Results Further Enhancing Operating Leverage
Margin Expansion and Earnings Improvement in Each Operating Segment
Note: Please see Non-GAAP reconciliations at the end of this presentation. Margin calculated using Net Sales.
First Half 2013 vs. 2012:
Net Sales up 5% and Gross Profit up 18%
Broad-based improvement in aggregates pricing, up 4%
Aggregates volumes down 1% due in part to extremely wet weather
Concrete and Cement volumes up 11% and 18% respectively
Gross Profit Margin up 140 basis points
Aggregates earnings up 4%
Non-aggregates earnings improvement of $17 million
EPS Improvement of $0.36 per diluted share
Improved Credit Metrics
Net Debt / EBITDA 5.4x, down from 6.3x
9. 9Investor Presentation, August 12, 2013
Attractive Profitability
Unit Profitability That Was Maintained Throughout the Downturn, Now Beginning to Grow
2012 profitability is higher
than prior year and 27%
higher than peak-year in
volumes (2005)
Cash Gross Profit Per Ton of Aggregates
Tons in Millions. Note: Please see Non-GAAP reconciliations at the end of this presentation.
10. 10Investor Presentation, August 12, 2013
Track Record for Price Growth
Vulcan Consistently Outperforms, Contributing to Higher Unit Profitability
Aggregates Price Growth
Index, 1992 = 100
Note: Historical performance is not a guarantee or assurance of future performance nor that previous results will be attained or surpassed.
*Industry = Producer Price Index for Aggregates reported by the U.S. Bureau of Labor Statistics. For comparison purposes, Vulcan price not freight adjusted.
6.4%
5.3%
CAGR ’92-’02 ’02-’12
Industry*
Vulcan 3.6%
2.8%
11. 11Investor Presentation, August 12, 2013
SAG Expenses Have Been Reduced During the Downturn
Well Positioned to Leverage ERP Investment and Shared Services Platforms
Total SAG down $115
million from 2007
(31% decrease)
Millions of $ Source: Company filings Note: 2007 SAG includes Florida Rock on a pro forma basis ($84.5M).
12. 12Investor Presentation, August 12, 2013
De-Risked Balance Sheet
Higher Cash Generated from Operations and Asset Sales
2012 Cash Flow Bridge Sources of Cash
Uses of Cash
Operating activities, less debt
service costs, generated $121
million of cash in 2012
Progress on Planned Asset
Sales coincidently offset cash
used for debt maturities and
exchange offer defense costs
VPP = Volumetric Production Payment. Exchange Offer = Costs incurred as a result of an unsolicited exchange offer initiated by
Martin Marietta Materials on December 12, 2011 and subsequently withdrawn in 2012.
13. 13Investor Presentation, August 12, 2013
De-Risked Balance Sheet
Significant Financial and Operational Flexibility With Limited Near-Term Maturities
(1) Line of credit is an Asset Based Lending facility: $500 million 5 year facility expiring March 2018.
Favorable debt maturity profile with substantial liquidity
Minimal maturities of $150 million over the next three years
$87 million cash on hand and $500 million line of credit (1)
Limited financial covenants
Amounts in Millions, except ratios 2013 2012 2011
Total Debt 2,625$ 2,813$ 2,891$
Cash and Cash Equivalents 87 158 107
Net Debt 2,538$ 2,655$ 2,784$
Net Debt / TTM EBITDA 5.4 6.3 7.7
As of June 30
14. 14Investor Presentation, August 12, 2013
Aggregates Demand
Vulcan’s Key Markets Leveraged to Favorable Long Term Growth Prospects
1972 = 100. Source: Company estimates of aggregates demand using data from Woods & Poole CEDDS.
Aggregate demand
significantly below
population trend line.
Growth Trends for Vulcan-Served Markets
15. 15Investor Presentation, August 12, 2013
Aggregates Demand
Privately funded construction accounts for most of the cyclicality
Source: Company estimates of aggregates demand.
16. 16Investor Presentation, August 12, 2013
Private Construction – Residential
Growth Bodes Well for Continued Recovery in Our Markets…
Source: McGraw-Hill and Company Estimates. Trailing Twelve Months. Includes both Single-family and Multi-family. TTM = Trailing Twelve Months
U.S. Residential Housing Starts (TTM)
>60%
Share of Vulcan-
served States
+26%
17. 17Investor Presentation, August 12, 2013
Private Construction – Residential
…Evident by the Significant Growth in Housing Starts in These Key Vulcan-Served States
Source: McGraw-Hill and Company Estimates. TTM = Trailing Twelve Months. Includes both Single-family and Multi-family
18. 18Investor Presentation, August 12, 2013
Private Construction – Nonresidential
Growth in Residential is Helping Drive Growth in Private Nonresidential Buildings
Source: McGraw-Hill and Company Estimates. TTM = Trailing Twelve Months.
Year-over-Year Change in TTM
YoY
+11%
19. 19Investor Presentation, August 12, 2013
Private Construction - Nonresidential
Another leading indicator, The ABI, has remained above 50 for 10 of the last 12 months
Note: The Architectural Billings Index (ABI) is a diffusion index derived from the monthly Work-on-the-Boards Survey conducted by the AIA Economics & Market Research
Group. A value greater than 50 indicates an increase in billiing activity from the prior month.
20. 20Investor Presentation, August 12, 2013
Public Construction - Highways
More stabile and predictable funding environment leads to improving construction activity
As of June 2013. Sources: The American Road & Transportation Builders Association, McGraw-Hill and Company Estimates
1 U.S. Department of Transportation Secretary July 27, 2012
Growth in TTM Contract Awards for New Highway Projects
U.S. +1% and VMC-served markets +9%
Growth in VMC-served markets driven by new road projects which are more
aggregates intensive than other types of construction
Growth in Obligation of Regular Highway Program Funds
$20.2 billion obligated year-to-date, up 22% from prior year
Obligated $ greater than any year since 2009 (last year of SAFETEA-LU)
Increased State-led Highway Funding Initiatives
TIFIA Funding Authorization Expanded in MAP-21
$1.75 billion of funding authorization could support up to $50 billion of new
construction 1
21. 21Investor Presentation, August 12, 2013
Public Construction – Highways
Vulcan states should get a disproportionate number of TIFIA-funded projects
Potential TIFIA Projects in Vulcan Markets
• Enacted in 1998 to provide Federal credit assistance
for eligible transportation projects and stimulate private
capital investment.
• Each dollar put into TIFIA can provide approximately
$10 in loans and support up to $30 in infrastructure
investment.
• MAP-21 Funding Authorization: $1.75 billion over two
years (FY’13 & FY’14). Signed into law July 2012.
12 projects
$14 billion
14 projects
$13 billion
5 projects
$9 billion
3 projects
$3 billion
4 projects
$3 billion
59 projects submitted for approval as of August 2013 totaling $74 billion. Includes FY 2011-FY 2013
$74Bn of Potential
Projects Submitted
>60%Share of Total Project $
in Vulcan Markets
LA, FL and GA
4 projects
$4 billion
22. 22Investor Presentation, August 12, 2013
Attractive unit profitability
Cost reduction initiatives
resetting mid-cycle
EBITDA to new, higher
level
Favorable trends in
private construction
activity
New multi-year Federal
Highway Bill
Vulcan’s Value Proposition
Well Positioned to Capitalize on Market Recovery
Superior Aggregates
Operations
Strong Operating
Leverage
De-Risked Balance
Sheet
Largest reported reserve
base
Favorable long term
growth prospects
Benefits of scale
Operational expertise and
pricing growth
Attractive real estate
opportunities
Substantial liquidity
Moderate debt maturity
profile
Commitment to
strengthening balance
sheet
Commitment to restore a
meaningful dividend
23. 23Investor Presentation, August 12, 2013
Appendix - Reconciliation of Non-GAAP Financial Measures
Source: Company filings
Amounts in millions of dollars, except per share data
EBITDA
EBITDA is an acronym for Earnings Before Interest, Taxes, Depreciation and Amortization.
Cash gross profit
Cash gross profit adds back noncash charges for depreciation, depletion, accretion and amortization to gross profit.
YTD
12/31/12
YTD
12/31/11
EBITDA and Adjusted EBITDA
Net earnings (loss) (52.6) (70.8)
Provision (benefit) for income taxes (66.5) (78.4)
Interest expense, net 211.9 217.2
Discontinued operations, net of tax (1.3) (4.5)
EBIT 91.5 63.5
Plus: Depr., depl., accretion and amort. 332.0 361.7
EBITDA 423.5 425.2
Legal settlement - (46.4)
Restructuring charges 9.5 12.9
Exchange offer costs 43.4 2.2
Gain on sale of real estate and businesses (65.1) (42.1)
Adjusted EBITDA 411.3 351.8
Q2 Q2 Q2
2013 2012 2011
Net earnings (loss) (8.2) (78.2) (96.5)
Provision (benefit) for income taxes (43.0) (56.9) (112.0)
Interest expense, net 209.6 210.1 206.9
Discontinued operations, net of tax (3.0) 0.7 (10.7)
Depr., depl., accretion and amort. 315.0 348.2 373.2
EBITDA 470.4 423.9 360.9
Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4
2012 2011 2010 2009 2008 2007 2006 2005
Aggregates segment gross profit 352.1 306.2 320.1 393.3 657.6 828.7 819.0 650.0
Agg. Depr., depl., accretion and amort. 240.7 267.0 288.6 312.2 310.8 246.9 210.3 206.4
Aggregates segment cash gross profit 592.8 573.2 608.8 705.5 968.4 1,075.6 1,029.3 856.4
Aggregate tons 141.0 143.0 147.6 150.9 204.3 231.0 255.4 259.5
Aggregates segment cash gross profit per ton 4.21 4.01 4.12 4.68 4.74 4.66 4.03 3.30
Generally Accepted Accounting Principles (GAAP) does not define "Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA)" and "cash gross profit." Thus, they should not be
considered as an alternative to any earnings measure defined by GAAP. We present these metrics for the convenience of investment professionals who use such metrics in their analysis, and for
shareholders who need to understand the metrics we use to assess performance and to monitor our cash and liquidity positions. The investment community often uses these metrics as indicators of a
company's ability to incur and service debt. We use cash gross profit, EBITDA and other such measures to assess the operating performance of our various business units and the consolidated
company. Additionally, we adjust EBITDA for certain items to provide a more consistent comparison of performance from period to period. We do not use these metrics as a measure to allocate
resources. Reconciliations of these metrics to their nearest GAAP measures are presented below:
Trailing 12 Months
Aggregates Segment Cash Gross Profit
Trailing 12 Months EBITDA
24. 24Investor Presentation, August 12, 2013
Appendix – Simplified Geology Map
Below Geological Fall Line, Little or No Hard Rock Aggregates Reserves Suitable for Mining
Simplified Geology Map
25. 25Investor Presentation, August 12, 2013
Appendix - Comprehensive Distribution Network to Serve Attractive
Markets With Limited Aggregates Reserves
4-5 truckloads per rail car
$0.04-0.12 per ton mile
65 truckloads per barge
$0.02-0.03 per ton mile
2,500 truckloads per ship
Less than $0.01 per ton mile Note: Per ton mile costs exclude loading and unloading.
Geological Fall Line
20-25 tons per truck
$0.15-0.35 per ton mile