Q1 25 EPS
$1.00
BEAT +30.51%
Est. $0.77
Q1 25 Revenue
$1.63B
MISS 1.02%
Est. $1.65B
vs S&P Since Q1 25
-15.4%
TRAILING MARKET
VMC +16.9% vs S&P +32.3%
Market Reaction
Did VMC Beat Earnings? Q1 2025 Results
Vulcan Materials delivered a sharply stronger-than-expected first quarter, posting adjusted diluted EPS of $1.00 against a Wall Street consensus of $0.77, a 30.51% beat that sent shares climbing roughly 2% in premarket trading. Revenue of $1.63 billi… Read more Vulcan Materials delivered a sharply stronger-than-expected first quarter, posting adjusted diluted EPS of $1.00 against a Wall Street consensus of $0.77, a 30.51% beat that sent shares climbing roughly 2% in premarket trading. Revenue of $1.63 billion came in just fractionally below the $1.65 billion estimate, a -1.02% miss, though it still represented a 5.8% gain year-over-year. The real story was in the aggregates segment, which powered a 27% surge in adjusted EBITDA to $410.90 million and a 420-basis-point margin expansion, fueled by a 7% rise in freight-adjusted selling prices and a 3% decline in unit cash costs, the ninth consecutive quarter of double-digit compounding unit profitability improvement. For investors watching infrastructure spending beneficiaries, Vulcan's operational leverage remains a compelling case study. Management held its full-year 2025 adjusted EBITDA guidance at $2.35 billion to $2.55 billion, while flagging trade policy uncertainty and interest rate trends as factors worth monitoring through the remainder of the year.
Key Takeaways
- • Aggregates freight-adjusted selling prices increased 7% (mix-adjusted pricing increased 8.5%)
- • Aggregates cash gross profit per ton improved 20% to $10.63 per ton
- • Freight-adjusted unit cash cost of sales decreased 3% ($0.33 per ton)
- • Ninth consecutive quarter of double-digit compounding improvement in unit profitability on trailing-twelve-month basis
- • Concrete unit cash gross profit increased 77%
- • Asphalt unit cash gross profit improved 19%
- • Vulcan Way of Selling and Vulcan Way of Operating disciplines driving operational and commercial execution
- • Moderating inflationary pressures supporting cost improvement
VMC YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
VMC Revenue by Segment
With YoY comparisons, source: SEC Filings
“The combination of our aggregates-led business and our consistent focus on our Vulcan Way of Selling and Vulcan Way of Operating disciplines resulted in strong earnings growth and margin expansion in the first quarter. Adjusted EBITDA increased 27 percent, and Adjusted EBITDA margin expanded 420 basis points over the prior year. Aggregates cash gross profit per ton improved 20 percent with widespread improvements across our footprint. Our commercial and operational execution support our full-year outlook to deliver another year of earnings growth in 2025.”
— Tom Hill, Q1 2025 Earnings Press Release
VMC Earnings Trends
VMC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
VMC EPS Trend
Earnings per share: estimate vs actual
VMC Revenue Trend
Quarterly revenue: estimate vs actual
VMC Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 | — | — | — | — | — |
| Q1 26 BEAT | $1.10 | $1.35 | +22.35% | $1.76B | +8.06% |
| Q4 25 MISS FY | $2.11 | $1.70 | -19.48% | $1.91B | -2.22% |
| FY Full Year | $8.42 | $8.00 | -4.94% | $7.94B | -0.67% |
| Q3 25 BEAT | $2.72 | $2.84 | +4.45% | $2.29B | +1.17% |
| Q2 25 MISS | $2.52 | $2.45 | -2.82% | $2.10B | -4.26% |
| Q1 25 BEAT | $0.77 | $1.00 | +30.51% | $1.63B | -1.02% |