Revenue during the quarter grew 4.32 percent to $787.33 million from $754.73 million in the previous year period. Gross margin for the quarter contracted 151 basis points over the previous year period to 20.32 percent. Total expenses were 90.80 percent of quarterly revenues, down from 91.40 percent for the same period last year. This has led to an improvement of 59 basis points in operating margin to 9.20 percent.

Operating income for the quarter was $72.40 million, compared with $64.92 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $149.31 million compared with $155.45 million in the prior year period. At the same time, adjusted EBITDA margin contracted 163 basis points in the quarter to 18.96 percent from 20.60 percent in the last year period.

Tom Hill, Chairman and Chief Executive Officer, said, "These results mark a good start to the year. Aggregates shipments declined 2 percent, but effectively matched last year's very strong first quarter pace when excluding the impact of weather disruptions on our shipments in California. Aggregates pricing increased 5 percent, consistent with full year expectations, and a good indication of the market's visibility to further demand recovery. Solid operational execution by our management teams led to record trailing-twelve-month unit profitability for a first quarter and helped offset $14 million of timing-related incremental costs which included the effects of higher unit cost of diesel fuel, increased stripping expense in anticipation of growing demand, and costs related to flooding in California. The four acquisitions we've closed since January, and our overall rate of reinvestment in the business, tie to our confidence in both improving market conditions and the quality of our internal execution. We remain focused on continuous, compounding improvements in profitability and cash flows, and expect them to continue in 2017 and for years to come."

The company has spent $307.82 million cash to meet investing activities during the quarter as against cash outgo of $106.11 million in the last year period. It has incurred capital expenditure of $131.78 million on net basis during the quarter, up 22.93 percent or $24.58 million from year ago period.

Cash flow from financing activities was $241.64 million for the quarter as against cash outgo of $74.79 million in the last year period.

Cash and cash equivalents stood at $286.96 million as on Mar. 31, 2017, up 49.55 percent or $95.07 million from $191.89 million on Mar. 31, 2016.

Working capital increases
Vulcan Materials Company has recorded an increase in the working capital over the last year. It stood at $796.86 million as at Mar. 31, 2017, up 22.40 percent or $145.85 million from $651.02 million on Mar. 31, 2016. Current ratio was at 3.21 as on Mar. 31, 2017, up from 2.83 on Mar. 31, 2016.

Cash conversion cycle (CCC) has decreased to 50 days for the quarter from 76 days for the last year period. Days sales outstanding went down to 50 days for the quarter compared with 51 days for the same period last year.

Days inventory outstanding has decreased to 26 days for the quarter compared with 53 days for the previous year period. At the same time, days payable outstanding went down to 25 days for the quarter from 28 for the same period last year.