Vulcan Materials Company Reports Third Quarter 2025 Results
Vulcan Materials Company, the nation's largest producer of construction aggregates, has released its financial results for the third quarter of 2025. The company has demonstrated strong earnings growth and margin expansion across all segments, driven by solid execution and improving demand.
Financial Highlights
For the quarter ended September 30, 2025, Vulcan reported total revenues of $2.29 billion, a 14% increase from $2.00 billion in the same period last year. Gross profit rose to $697 million from $565 million, reflecting a 23% increase. Net earnings attributable to Vulcan surged to $375 million, up from $208 million in the prior year. Adjusted EBITDA also saw a significant rise, reaching $735 million compared to $581 million in the third quarter of 2024.
Business and Operational Highlights
The aggregates segment showed robust performance with shipments increasing by 12% to 64.7 million tons. The freight-adjusted sales price per ton rose to $22.01, and the gross profit per ton improved to $9.46. The asphalt and concrete segments also reported strong results, with asphalt segment gross profit at $71 million and concrete segment gross profit at $14 million.
Strategic Initiatives and Corporate Developments
Vulcan has been active in managing its financial position and capital allocation. The company returned $65 million to shareholders through dividends and used $550 million of cash on hand to pay down its outstanding commercial paper balance. Additionally, Vulcan completed the disposition of its asphalt and construction services assets in the greater Houston market and entered into an agreement to sell its ready-mixed concrete businesses in California.
Management's Perspective
Tom Hill, Vulcan Materials’ Chairman and CEO, highlighted the company's strong earnings growth and margin expansion, attributing it to the aggregates-led business model and effective commercial and operational execution. Hill expressed confidence in the company's ability to continue delivering strong earnings growth and cash generation.
Future Outlook
Looking ahead, Vulcan expects to deliver between $2.35 and $2.45 billion of Adjusted EBITDA for the full year 2025, representing 17% year-over-year growth at the midpoint. The company anticipates continued strength in public construction activity and an improving private nonresidential outlook for 2026. Ronnie Pruitt, who will take over as CEO on January 1, 2026, is expected to lead Vulcan's future growth and innovation.
Original SEC Filing: Vulcan Materials CO [ VMC ] - 8-K - Oct. 30, 2025