Vulcan expects weak orders to cut 2009 profit

Vulcan expects weak orders to cut 2009 profit
Published: 11 June 2009

Vulcan Materials Co on Wednesday forecast 2009 profit below Wall Street expectations as construction product shipments are curbed by weak demand and wet weather.

The company expects full-year profit to range between 70 cents and $1 per share, well below the $1.13-per-share average estimate of analysts polled by Thomson Reuters.

The company also said it will see lower capital spending and cut its dividend in half in order to boost its available cash.