Vulcan Materials (VMC) Q3 2026 Earnings
Adjusted EPS excludes items included in Adjusted EBITDA, net of tax ($0.02 per share; including $2.3 million charges associated with divested operations, $0.8 million acquisition related charges, $0.5 million loss on sale of real estate and businesses, and $1.6 million loss on discontinued operations) and a $0.01 per share NOL carryforward valuation allowance. GAAP diluted EPS from continuing operations was $2.81.
How Did VMC Stock React to Q3 2026 Earnings?
Did VMC Beat Earnings? Q3 2026 Results
Yes. Vulcan Materials reported Q3 2026 earnings of $2.83 a share on Oct 29, 2026, beating the $2.82 consensus estimate by 0.2%. Revenue was $2.2B against a $2.2B estimate.
Vulcan Materials delivered a tale of two metrics in its third quarter of 2026, edging past the earnings consensus while falling short on revenue. The Birmingham-based aggregates giant posted adjusted EPS of $2.83, a narrow beat of the $2.82 analyst estimate, even as revenue of $2.18 billion slid 4.3% year over year and trailed the $2.23 billion consensus by 2.19%. The revenue shortfall was largely a story of portfolio reshaping rather than demand collapse; the prior-year period included contributions from the Houston asphalt and construction business and California concrete assets, both since divested, which together pulled the Concrete segment's revenue down to $92.40 million from $237.50 million. Diesel inflation weighed on aggregates unit costs, yet disciplined pricing, with freight-adjusted selling prices up 5% on a mix-adjusted basis, helped Adjusted EBITDA margin tick up to 32.3% and cash gross profit per ton expand to $11.95. Looking ahead, Vulcan guided full-year 2026 Adjusted EBITDA to approximately $2.40 billion and signaled mid- to high-single-digit aggregates pricing gains in 2027, even as energy inflation carries into the fourth quarter.
- Aggregates freight-adjusted selling prices up 5% mix-adjusted (4%, or $0.82/ton, reported) to $22.84/ton
- Aggregates cash gross profit per ton rose to $11.95 from $11.84 despite energy headwinds
- Aggregates shipments down 3% to 62.7 million tons against a weather-aided prior-year comparison
- Freight-adjusted unit cash cost of sales up 7% ($0.72/ton); up 3% excluding higher diesel costs
- Asphalt gross margin held at 17% despite lower shipments and higher liquid asphalt costs
- Concrete gross margin expanded to 9%
- SAG expense down 6% to $137 million (6.3% of revenues)
- Adjusted EBITDA margin of 32.3% vs. 32.1% in the prior-year quarter
- Prior-year results included the Houston asphalt business (divested Q4 2025) and California concrete assets (divested Q2 2026)
“Our results this quarter reflect disciplined operational execution across our entire organization. Our teams stayed focused on our core priorities, driving operational efficiencies, protecting margins, and delivering dependable value to our customers in a dynamic environment marked by energy inflation.”
Vulcan Materials CEO, on the earnings call
What Is Vulcan Materials's Outlook?
Vulcan expects approximately $2.4 billion in Adjusted EBITDA for full-year 2026 (projected EBITDA of $2,365 million plus $35 million of adjusting items). Elevated energy inflation has continued into the fourth quarter, and the company has taken proactive pricing and cost actions in response. For 2027, management anticipates a continuation of the current demand environment and another year of earnings growth. It expects continued expansion in aggregates cash gross profit per ton, supported by mid- to high-single-digit pricing gains and cost benefits from operational initiatives. The company also plans to continue disciplined capital deployment and the integration of acquired assets.
VMC YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $2.2B | $2.3B | −4.3% |
| Gross Profit | $665.6M | $688.5M | −3.3% |
| Operating Income | $524.6M | $543.3M | −3.4% |
| Net Income | $362.3M | $379.2M | −4.5% |
VMC Revenue by Segment
When Does Vulcan Materials Report Next?
Figures from SEC filings and company reports. Not investment advice.