Vulcan Materials Q4 EPS Misses by 20% as Revenues Fall Short, Stock Drops 8.7%
Vulcan Materials reported Q4 adjusted EPS of $1.70, missing estimates by 20% and down 21.7% year over year, while revenues of $1.91 billion fell 1.6% short despite 3.2% growth. The stock slid 8.7% pre-market as the company forecast 2026 aggregates shipments growth of 1–3% and 4–6% freight-adjusted price improvement.
1. Q4 Earnings and Revenue Miss
Vulcan Materials reported adjusted Q4 EPS of $1.70, 20% below the $2.13 estimate and down 21.7% year over year, with revenues of $1.91 billion missing the $1.94 billion consensus by 1.6%.
2. Segment Performance
The aggregates segment generated $1.52 billion in revenue, up 3.2% on 55.1 million tons shipped, while asphalt revenues fell 8.1% to $300.7 million and concrete revenues rose 29.3% to $211.4 million.
3. Balance Sheet and Cash Flow
Cash and cash equivalents declined to $183.3 million from $559.7 million year-end 2024, long-term debt fell to $4.36 billion, and operating cash flow rose to $1.81 billion for the year.
4. 2026 Outlook
For 2026, the company expects aggregates shipment growth of 1–3%, freight-adjusted price improvement of 4–6%, adjusted EBITDA of $2.4–2.6 billion and capital expenditures of $750–800 million.