2019 was another year of solid performance for Vulcan Materials Company.
We achieved double-digit increases in total revenue, net earnings, and Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization), while continuing to leverage our pricing strength and increase our industry-leading profitability as measured by gross profit per ton.
In May 2019, Vulcan named new Division Presidents for its Central and Southern & Gulf Coast Divisions. After serving as President of Vulcan’s Southern & Gulf Coast Division, Christy Alvord (52) was named President, Central Division. Jerry Perkins (50), who previously served as General Counsel and Corporate Secretary, took over as President of Vulcan’s Southern & Gulf Coast Division.
In December 2019, Denson (D.) Franklin III (56) was appointed Senior Vice President, General Counsel and Secretary. D. joined Vulcan from the Corporate and Securities Practice Group at Bradley Arant Boult Cummings LLP, where he represented our Company for many years.
In March 2020, Vulcan announced that Mr. Perkins was promoted to the position of Senior Vice President of Vulcan’s Southern & Gulf Coast and Southwest Divisions, and Jason Teter (45) was promoted to Senior Vice President, Southeast and Mideast Divisions, having previously served as President of the Southeast Division.
Finally, we want to thank Michael Mills, who retired as Chief Administrative Officer, General Counsel, and Corporate Secretary in September 2019 after 28 years with the Company. Throughout his career, Michael played a key role in Vulcan’s continued growth and leadership position in the industry. His thoughtful commitments to organizational excellence, continuous improvement, and taking care of our people have made invaluable contributions to our Company’s success. We wish him the very best.
Our strategic focus on Aggregates, leading positions in attractive markets, and dedication to operational excellence have enabled us to deliver consistent top line growth as well as strong profitability and cash flow in each of the past five years.
Vulcan has a strong culture, exemplified by individual ownership, professional pride, and caring for each other, our customers, and communities.
In 2019, 75% of Vulcan’s total revenues, and over 90% of Vulcan’s gross profit, came from aggregates — significantly more than any other company in the industry.
Vulcan’s strategic position in high-growth markets across the U.S. is unrivalled in the aggregates industry.
Every day, we concentrate on four strategic initiatives that will enable us to make ongoing improvements to our business. These disciplines are the key drivers of our performance.
Vulcan is committed to superior performance in environmental compliance and sustainability — it’s the right thing to do for our communities and for our business.
