Vulcan's Earnings Are Dragging Down Construction Materials Stocks. - Barron'sSkip to Main ContentThis copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.# Vulcan's Earnings Are Dragging Down Construction Materials StocksBy [Al Root]ShareResize---ReprintsIn this article[VMC][SPX][ ...

In aggregates, shipments totaled approximately 227 million tons , an increase of 3% for the full year, driven by prior-year acquisitions. Same-store aggregate shipments were “slightly lower” than the prior year. Aggregates mix-adjusted price improved 6% for the full year and 5% in the fourth quarter, while aggregates cash gross profit per ton improved 7% for the year, according to management.The company also generated over $1.8 billion of operating cash flow , which management said was up 29% year over year ...

Key Takeaways higher sales. Vulcan reported a soft fourth quarter, with earnings and revenues missing expectations despite Aggregates-led operations and steady execution supported results, though margin pressure remained a challenge.Management stayed positive on 2026, supported by public construction strength and improving private demand.Vulcan Materials Company (VMC) reported lower-than-expected fourth-quarter 2025 results, with adjusted earnings and revenues missing the Zacks Consensus Estimate. On a year ...

Vulcan Materials Company (NYSE:VMC) Q4 2025 Earnings call February 17, 2026 10:00 AM ET Company ParticipantsAdam Thalhimer - Director of ResearchAngel Castillo - Executive Director and Head of US Machinery and Construction Equity ResearchAsher Sohnen - Equity Research Senior AssociateBrian Brophy - DirectorDavid MacGregor - PresidentGarik Shmois - Managing DirectorIvan Yi - DirectorKathryn Thompson - Founding Partner and CEOMark Warren - VP of Investor RelationsMary Andrews Carlisle - Senior VP and CFOMicha ...

Financial Data and Key Metrics Changes - In 2025, the company delivered $2.3 billion of adjusted EBITDA, a 13% increase over the prior year, with an adjusted EBITDA margin expanding by 160 basis points to 29.3% [4] - Aggregates cash gross profit per ton grew to $11.33, achieving the previously established target of $11-$12, driving operating cash flow of over $1.8 billion, a 29% increase over the prior year [5][6] - Free cash flow increased by over 40% after reinvesting $678 million in capital expenditures [10] Business Line Data and Key Metrics Changes - Aggregate shipments of approximately 227 million tons increased by 3% for the full year, driven by prior year acquisitions, although same-store aggregate shipments were slightly lower than the prior year [7] - Aggregates mix adjusted price improved by 6% for the full year and 5% in the fourth quarter [8] - SAG expenses for the full year were $564 million, 10 basis points lower than the prior year as a percentage of revenue at 7.1% [11] Market Data and Key Metrics Changes - Public non-highway infrastructure investments grew, with starts in Vulcan markets for water, sewer, and other infrastructure projects increasing double digits in 2025 [15] - Highway starts in Vulcan markets continued to grow at three times the rate compared to the U.S. overall [13] - In California, highway starts were up 47% in 2025 versus 2024, indicating strong demand in key markets [56] Company Strategy and Development Direction - The company aims to expand its industry-leading aggregates franchise in both current and new geographies, focusing on improving underlying business operations [4] - The company anticipates continued growth in public demand complemented by improving private demand, expecting aggregate shipments to grow between 1% and 3% in 2026 [16] - The company plans to reinvest in its franchise through operating and maintenance and internal growth capital expenditures of $750 million to $800 million in 2026 [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in leveraging demand growth and a healthy pricing environment for 2026, with expectations of modest overall growth [21] - The company expects to deliver between $2.4 billion and $2.6 billion of adjusted EBITDA in 2026, driven by high single-digit expansion of aggregates cash gross profit per ton [16] - Management noted that while residential activity is expected to be limited in 2026, there are potential opportunities for improvement in the second half of the year [15] Other Important Information - The company returned $260 million to shareholders through dividends and $438 million through share repurchases [11] - The company has improved its adjusted EBITDA margin by over 700 basis points and return on invested capital by over 200 basis points over the last three years [12] Q&A Session Summary Question: Can you discuss your confidence levels regarding end market demand and expectations around pricing and profitability for 2026? - Management indicated that public starts remain solid, and there is a good story for public infrastructure outside of highways, expecting steady public growth [21][22] Question: Can you clarify the pricing dynamics and the impact of geographic and product mix on pricing? - Management confirmed a "triple whammy" impact on pricing due to geographic mix, acquisitions, and product mix, with expectations for pricing to be lower in the first half of 2026 and improve later [36][38] Question: What gives you confidence in keeping costs down in 2026? - Management attributed confidence in cost control to the Vulcan Way of Operating, which focuses on efficiency and productivity in plants [46][49] Question: How is the IIJA reauthorization impacting your guidance? - Management expects a new bill to be passed, with historical trends indicating that it will be higher than the previous bill, and noted that 50% of IIJA funding has yet to be spent [54][56] Question: What is the outlook for M&A activity in 2026? - Management anticipates a very active year for M&A, focusing on aggregates-led opportunities and expanding geographic footprint [72][75]

Vulcan Materials Company (NYSE:VMC) Q4 2025 Earnings call February 17, 2026 10:00 AM ET Speaker11Good morning. Welcome everyone to the Vulcan Materials Company fourth quarter 2025 earnings call. My name is Angela, and I will be your conference call coordinator today. Please be reminded that today's call is being recorded and will be available for replay later today at the company's website. All lines have been placed in a listen-only mode. After the company's prepared remarks, there will be a question-and-a ...

Durable Growth, The Vulcan Way 4Q 2025 SUPPLEMENTAL INFORMATION February 17, 2026 Safe Harbor and Non-GAAP Financial Measures This presentation contains forward-looking statements. Statements that are not historical fact, including statements about Vulcan's beliefs and expectations, are forward-looking statements. Generally, these statements relate to future financial performance, results of operations, business plans or strategies, projected or anticipated revenues, expenses, earnings (including EBITDA and ...

Vulcan Materials (VMC) came out with quarterly earnings of $1.7 per share, missing the Zacks Consensus Estimate of $2.13 per share. This compares to earnings of $2.17 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -20.02%. A quarter ago, it was expected that this construction materials company would post earnings of $2.68 per share when it actually produced earnings of $2.84, delivering a surprise of +5.97%.Over the last four ...

Exhibit 99.1 February 17, 2026 FOR IMMEDIATE RELEASE Investor Contact: Mark Warren (205) 298-3220 Media Contact: Jack Bonnikson (205) 298-3220 VULCAN REPORTS FOURTH QUARTER AND FULL YEAR 2025 RESULTS Full Year Earnings Growth and Margin Expansion Operating Cash Flow Increased 29 Percent to $1.8 Billion Anticipated Aggregates Demand Growth and Attractive Price Environment Support Continued Earnings Growth in 2026 Birmingham, Alabama – February 17, 2026 – Vulcan Materials Company (NYSE: VMC), the nation's lar ...

Core Viewpoint - Vulcan Materials Company (VMC) is set to release its fourth-quarter 2025 results on February 17, with expectations of revenue growth driven by aggregates pricing and volume increases, despite facing margin pressures from cost inflation and tariff uncertainties [1][9]. Group 1: Earnings and Revenue Estimates - The Zacks Consensus Estimate for fourth-quarter earnings per share (EPS) has decreased to $2.13 from $2.16, indicating a 1.8% decline year-over-year [2]. - The consensus estimate for total revenues is projected at $1.94 billion, reflecting a 4.9% year-over-year growth [2]. - In the last reported quarter, Vulcan's adjusted earnings and total revenues exceeded the Zacks Consensus Estimate by 6% and 1.7%, respectively, with year-over-year increases of 27.9% and 14.4% [1]. Group 2: Revenue Drivers - Revenue growth in the fourth quarter is expected to be supported by increased aggregates pricing and volume growth, driven by robust public construction and private nonresidential activities [3]. - Favorable weather conditions, particularly in the South, and completed acquisitions on both coasts are anticipated to contribute positively to revenue [3]. - The backlog in public and private projects is expected to provide a strong pipeline of demand, enhancing revenue visibility [3]. Group 3: Segment Performance - The Zacks Consensus Estimate for revenues from the Aggregates segment is $1.55 billion, reflecting a year-over-year growth of 5.2%, while the Concrete segment is estimated at $198 million, indicating a 20.7% increase [5]. - Conversely, the Asphalt mix segment is projected to generate $317 million, representing a 3.1% decline year-over-year [5]. - Unit shipment volumes for Aggregates and Concrete are expected to rise to 55,521 tons and 1,125 tons, respectively, while Asphalt mix shipments are anticipated to decrease to 3,332 tons [6]. Group 4: Margin Trends and Challenges - Vulcan's bottom line is likely to be impacted by cost inflation and ongoing tariff uncertainties, which may restrict growth despite price increases [7]. - The company is facing macroeconomic headwinds and pressures in end markets such as single-family housing, which could further limit bottom-line growth [7]. Group 5: Earnings Prediction - The Zacks model indicates that Vulcan is not expected to achieve an earnings beat this quarter, with an Earnings ESP of -1.58% and a Zacks Rank of 3 (Hold) [8][10].