Q3 25 EPS
$2.84
BEAT +4.45%
Est. $2.72
Q3 25 Revenue
$2.29B
BEAT +1.17%
Est. $2.26B
vs S&P Since Q3 25
-4.2%
TRAILING MARKET
VMC +3.7% vs S&P +7.9%
Market Reaction
Did VMC Beat Earnings? Q3 2025 Results
Vulcan Materials delivered a standout third quarter of 2025, with adjusted diluted EPS climbing to $2.84 from $2.22 a year ago and total revenues rising 14 percent to $2.29 billion, powered by a 12 percent surge in aggregates shipments to 64.7 millio… Read more Vulcan Materials delivered a standout third quarter of 2025, with adjusted diluted EPS climbing to $2.84 from $2.22 a year ago and total revenues rising 14 percent to $2.29 billion, powered by a 12 percent surge in aggregates shipments to 64.7 million tons and a favorable weather backdrop that contrasted sharply with the hurricane disruptions of the prior-year period. The aggregates segment was the clear engine of growth, with cash gross profit per ton reaching $11.84, a 9 percent improvement and the eleventh consecutive quarter of double-digit compounding unit profitability gains on a trailing-twelve-month basis, underscoring just how much Vulcan stands to gain as public infrastructure spending continues to flow through the economy. Adjusted EBITDA expanded to $735.20 million from $580.60 million, with margin widening to 32.1 percent. Looking ahead, management narrowed its full-year 2025 Adjusted EBITDA guidance to $2.35 billion to $2.45 billion, representing roughly 17 percent growth at the midpoint, while guiding for mid-single-digit aggregates pricing growth and further unit profitability expansion into 2026.
Key Takeaways
- • Aggregates shipments increased 12 percent in Q3 driven by healthy public construction activity and more favorable weather
- • Mix-adjusted freight-adjusted selling prices increased 5 percent year-over-year
- • Freight-adjusted unit cash cost of sales decreased 2 percent from operating discipline and volume leverage
- • Aggregates cash gross profit per ton improved 9 percent to $11.84, eleventh consecutive quarter of double-digit compounding improvement on trailing-twelve-month basis
- • Aggregates gross profit margin expanded 250 basis points to 34.2 percent
- • Asphalt unit cash gross profit improved 10 percent; concrete unit cash gross profit improved 34 percent
- • Prior year quarter negatively impacted by hurricanes and severe storms across the Southeast
VMC YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
VMC Revenue by Segment
With YoY comparisons, source: SEC Filings
“The combination of our aggregates-led business and our commercial and operational execution has resulted in strong earnings growth and margin expansion through the first nine months of 2025. Adjusted EBITDA has improved 20 percent over the prior year, and margin has expanded 290 basis points on a year-to-date basis. Aggregates cash gross profit per ton has improved 12 percent with widespread improvements across our footprint. These results demonstrate the compounding benefits of our strategic disciplines and reinforce our confidence in our ability to continue to deliver strong earnings growth and cash generation.”
— Tom Hill, Q3 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% |