Q2 26 EPS
$2.59
BEAT +4.91%
Est. $2.47
Q2 26 Revenue
$2.16B
BEAT +0.95%
Est. $2.14B
vs S&P Since Q2 26
-11.5%
TRAILING MARKET
VMC -5.5% vs S&P +6.0%
Market Reaction
Did VMC Beat Earnings? Q2 2026 Results
Vulcan Materials delivered a solid second-quarter beat in 2026, as disciplined aggregates pricing and cost control helped the construction materials giant exceed Wall Street expectations on both the top and bottom lines. Adjusted diluted EPS came in … Read more Vulcan Materials delivered a solid second-quarter beat in 2026, as disciplined aggregates pricing and cost control helped the construction materials giant exceed Wall Street expectations on both the top and bottom lines. Adjusted diluted EPS came in at $2.59, ahead of the $2.47 consensus by 4.91%, while revenue of $2.16 billion edged past estimates of $2.14 billion and grew 2.5% from the year-ago period. The key driver was aggregates unit profitability expansion, with cash gross profit per ton reaching $12.02 even as diesel fuel costs created energy inflation headwinds; excluding those fuel impacts, cash cost of sales rose only 3%. Weather disruptions across Texas and Southeastern markets weighed on volumes in May and June, a dynamic that had drawn investor scrutiny ahead of the print, yet pricing resilience proved sufficient to sustain momentum. Management reaffirmed its full-year 2026 Adjusted EBITDA guidance of $2.40 billion to $2.60 billion, citing supportive construction activity and continued aggregates price growth as catalysts for the back half of the year.
Key Takeaways
- • Aggregates freight-adjusted selling prices increased 5% on a mix-adjusted basis year-over-year
- • Aggregates shipments increased 1% year-over-year, benefiting from public construction activity and large projects
- • Cash gross profit per ton improved to $12.02 from $11.88
- • SAG expense declined 2% and improved 30 basis points as a percentage of revenue
- • Effective tax rate declined to 20.1% from 22.0%
- • Return on invested capital improved 20 basis points to 16.1% on a trailing-twelve-month basis
VMC Forward Guidance & Outlook
Management reaffirmed its full-year 2026 Adjusted EBITDA guidance of $2.4 billion to $2.6 billion (midpoint of $2.5 billion). The construction environment remains supportive of continued aggregates price growth, and large projects and public construction activity are expected to support volume growth in 2026. The projected Adjusted EBITDA midpoint implies net earnings attributable to Vulcan of approximately $1,215 million, with depreciation, depletion, accretion and amortization of approximately $700 million.
VMC YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
VMC Revenue by Segment
With YoY comparisons, source: SEC Filings
“Commercial and operational execution drove solid results in the second quarter. Our industry-leading aggregates cash gross profit per ton grew to over $12 per ton, despite significant energy inflation and disruptive weather. These results demonstrate the resiliency of our uniquely advantaged pure-play aggregates business.”
— Ronnie Pruitt, Q2 2026 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 BEAT | $2.47 | $2.59 | +4.91% | $2.16B | +0.95% |
| 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% |