Q2 25 EPS
$2.45
MISS 2.82%
Est. $2.52
Q2 25 Revenue
$2.10B
MISS 4.26%
Est. $2.20B
vs S&P Since Q2 25
-3.9%
TRAILING MARKET
VMC +12.1% vs S&P +16.1%
Market Reaction
Did VMC Beat Earnings? Q2 2025 Results
Vulcan Materials fell short of Wall Street expectations in Q2 2025, posting adjusted diluted EPS of $2.45 against a consensus estimate of $2.52, a miss of 2.82%, while revenue of $2.10 billion trailed the $2.20 billion estimate by 4.26%, even as the … Read more Vulcan Materials fell short of Wall Street expectations in Q2 2025, posting adjusted diluted EPS of $2.45 against a consensus estimate of $2.52, a miss of 2.82%, while revenue of $2.10 billion trailed the $2.20 billion estimate by 4.26%, even as the top line grew 4.4% year over year from $2.01 billion. The culprit was familiar for the aggregates giant: persistent rainfall across Southeastern markets dragged shipments down 1% to 59.3 million tons, pressuring volumes before pricing had a chance to fully compensate. Yet the underlying unit economics remained compelling, freight-adjusted selling prices rose 5%, cash gross profit per ton climbed 9% to $11.88, and Adjusted EBITDA expanded to $659.50 million with margins widening 150 basis points to 31.4%. For investors watching who benefits from infrastructure spending, management's reaffirmed full-year Adjusted EBITDA guidance of $2.35 billion to $2.55 billion, underpinned by accelerating highway construction activity, suggests the weather-driven softness is viewed as transient rather than structural.
Key Takeaways
- • Aggregates pricing discipline with freight-adjusted selling prices up 5% (8% mix-adjusted)
- • Cash gross profit per ton increased 9% to $11.88, tenth consecutive quarter of double-digit compounding improvement on TTM basis
- • Freight-adjusted unit cash cost of sales increased only 1% ($0.15 per ton) despite weather challenges
- • Aggregates gross profit margin expanded to 33.9% from 32.8% in prior year
- • Adjusted EBITDA margin expanded 150 basis points to 31.4% in Q2
- • Concrete unit cash gross profit increased 30% due to contribution of acquired operations
- • Asphalt unit cash gross profit improved 5% despite lower shipments
VMC YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
VMC Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our second quarter results reflected another quarter of outstanding execution, and we carry good momentum into the remainder of the year. Despite weather challenges, our pricing discipline and excellent cost performance have led to a 13 percent increase in aggregates cash gross profit per ton, a 16 percent improvement in Adjusted EBITDA and Adjusted EBITDA margin expansion of 260 basis points through the first half of the year.”
— Tom Hill, Q2 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% |