Vulcan Materials Q3 2026: Pricing Power Offsets Revenue Miss
As seen on the 24/7 Wall St. homepage on October 29, 2026.
Pricing is doing the work at Vulcan: freight-adjusted aggregates prices rose 5% on a mix-adjusted basis, enough to lift adjusted EBITDA margin to 32.3% even with diesel inflation and revenue missing expectations. Management held full-year adjusted EBITDA guidance near $2.4 billion and guided to mid- to high-single-digit aggregates pricing gains in 2027.
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Vulcan Materials earned adjusted EPS of $2.83 in the third quarter of 2026, just ahead of the $2.82 consensus, with revenue missing expectations. Divestitures of the Houston asphalt business and California concrete assets explain the shortfall.
Pricing is carrying profitability: freight-adjusted aggregates selling prices rose 5% on a mix-adjusted basis, lifting adjusted EBITDA margin to 32.3% even as diesel inflation raised unit cash costs.
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Aggregates shipments fell 3% to 62.7 million tons against a weather-favored year-ago quarter, while the company returned $417 million to shareholders.
Management held full-year 2026 adjusted EBITDA guidance at approximately $2.4 billion despite energy inflation carrying into the fourth quarter. For 2027, it guided to mid- to high-single-digit aggregates pricing gains, pointing to further per-ton profit expansion.
Sources
Mentioned: VMC