Q4 25 EPS
$1.70
MISS 19.48%
Est. $2.11
Q4 25 Revenue
$1.91B
MISS 2.22%
Est. $1.96B
vs S&P Since Q4 25
-10.5%
TRAILING MARKET
VMC -3.6% vs S&P +6.9%
Full Year 2025 Results
FY 25 EPS
$8.00
MISS 4.94%
Est. $8.42
FY 25 Revenue
$7.94B
MISS 0.67%
Est. $7.99B
Market Reaction
Did VMC Beat Earnings? Q4 2025 Results
Vulcan Materials closed out fiscal 2025 on a softer-than-expected note, with Q4 adjusted diluted EPS of $1.70 falling 20.19% short of the $2.13 consensus estimate, while revenue of $1.91 billion came in 3.14% below expectations despite growing 3.2% y… Read more Vulcan Materials closed out fiscal 2025 on a softer-than-expected note, with Q4 adjusted diluted EPS of $1.70 falling 20.19% short of the $2.13 consensus estimate, while revenue of $1.91 billion came in 3.14% below expectations despite growing 3.2% year over year. The quarter's weakness was largely a function of mix and timing rather than structural deterioration, freight-adjusted aggregates pricing rose just 2% on a reported basis as unfavorable geographic and product mix weighed on results, even as underlying mix-adjusted pricing climbed 5%. The full-year story offered considerably more encouragement: Adjusted EBITDA grew 13% to $2.32 billion, operating cash flow surged 29% to $1.81 billion, and net earnings attributable to Vulcan rose to $1.08 billion. For companies competing for infrastructure dollars, Vulcan's positioning looks durable, management guided 2026 Adjusted EBITDA of $2.40 billion to $2.60 billion, with aggregates shipments expected to grow 1–3% and freight-adjusted pricing improving 4–6%, underpinned by continued strength in public construction demand.
Key Takeaways
- • Aggregates cash gross profit per ton increased to $11.33 for the full year, up 7% over prior year
- • Full year Adjusted EBITDA improved 13% with margin expansion of 160 basis points
- • Healthy public construction activity supported aggregates shipments growth of 3% for the full year
- • Freight-adjusted selling prices increased 6% on a mix-adjusted basis for the full year
- • Freight-adjusted unit cash cost of sales increased only 2% for the full year reflecting cost management
- • Operating cash flow increased 29% to $1.8 billion
- • Concrete segment gross profit margin expanded 220 basis points to 4% for the full year
VMC YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
VMC Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our aggregates-led business delivered another year of strong earnings growth and margin expansion. Adjusted EBITDA for the full year improved 13 percent over the prior year, and margin expanded 160 basis points. Through a consistent focus on commercial and operational execution, we continue to deliver attractive organic growth and expand our industry-leading aggregates cash gross profit per ton, which increased to $11.33 per ton. The resulting strong cash generation, coupled with disciplined M&A and portfolio management, positions us well to continue compounding results and creating value for our shareholders in 2026 and beyond.”
— Ronnie Pruitt, Q4 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% |