Vulcan Materials Q4 EPS Misses by 20%, Revenue $1.91B, Shares Slide 8.7%
Vulcan Materials reported Q4 adjusted EPS of $1.70, missing estimates by 20.2%, while revenues rose 3.2% to $1.91 billion but fell short of projections by 1.6%. The company forecasts 2026 adjusted EBITDA of $2.4–2.6 billion, 1–3% shipment growth, and 4–6% freight-adjusted price gains.
1. Q4 Earnings Results
In Q4 2025, Vulcan Materials delivered adjusted EPS of $1.70, missing consensus by 20.2% and declining 21.7% year over year, while revenues grew 3.2% to $1.91 billion, 1.6% below estimates.
2. Segment Performance
Aggregates segment revenue rose 3.2% to $1.52 billion on 55.1 million tons (+2.2%), with freight-adjusted average sales price at $21.78 per ton; Asphalt sales fell 8.1% to $300.7 million, and Concrete revenues jumped 29.3% to $211.4 million.
3. 2026 Outlook
For 2026, the company expects shipments to grow 1–3%, freight-adjusted prices to improve 4–6%, adjusted EBITDA of $2.4–2.6 billion, and unit cash costs to rise in the low-single digits.
4. Balance Sheet and Cash Flow
As of Dec. 31, cash and equivalents stood at $183.3 million, long-term debt declined to $4.36 billion, net cash from operations rose to $1.81 billion, and 2025 adjusted EBITDA margin expanded to 29.3%.