This episode of Business Breakdowns features Matt Russell interviewing Rob Hansen, a Senior Analyst at Bontobo Asset Management, about Vulcan Materials, America's largest producer of construction aggregates. The discussion covers the basics of the aggregates market, Vulcan's history and market leadership, the dynamics of operating quarries, logistical considerations, cost profile, pricing strategies, and the importance of geographical location. They also discuss the company's financials, capital allocation strategies including M&A, potential risks, and the overall growth prospects of the business, highlighting its unique position and the lessons it offers for investors.
