Vulcan Materials Company (NYSE: VMC) Q4 2025 earnings report is out. The firm is top in rock and sand. It beat on cash. All key numbers topped the plan.
Vulcan Materials Q4 2025 Earnings Overview
Full-year 2025 revenue hit $7.9 billion. It grew 7% from 2024. Cash from work rose to $1.8 billion. Also, earnings went up 13%. They hit $2.3 billion. Plus, profit rates expanded by 160 marks. In fact, the firm had an edge in price.
Quarterly Results
In Q4, sales hit $1.9 billion. So this beat the prior year. It was up 3.2% year-over-year. The bump came from building work.
Plus, profit hit $518 million. This was 27% of sales. So the firm ran well. Work levels stayed stable through the year.
Chart 1: Revenue Q4 2025
Aggregates Segment
Tons sold hit 226.8 million in 2025. So tons went up 3% on the year. Plus, the price rose 6% by mix. Sales were on track. Also, price per ton was $21.98. This beat last year. Cash profit per ton hit $11.33. So this was up 7%. This is the 12th best quarter in a row.
Chart 2: Pricing Q4 2025
Vulcan Materials Q4 2025 Earnings: Cash Flow
Net cash was $1.8 billion. So this rose 29% from the prior year. Work spent $703 million. The firm paid cash back. It paid $698 million to owners. Also, debt fell to 1.9x earnings. This is good. Plus, debt will mature in 14 years. So the cost is 5%. Return on cash was 15.7%.
Future Outlook
For 2026, the firm plans volume growth of 1%-3%. So prices may rise 4%-6%. Plus, profit will be $2.4 to $2.6 billion. Work and private builds will help. Also, markets look good. Over 85% of roads funded. Deals in Vulcan zones jump by 24%. Plus, tech parks need stone. Sites expand fast in core markets. In fact, the firm will sell assets. It sold Texas mix work. It will sell California sand too. So cash goes to buy growth options.
Market Trends
Roads still get funds. So demand stays high. Over 50% of road cash remains. Thus demand lasts into 2027. Plus, private work is rising. Tech parks spur demand. 35 of 67 fast towns are served. Also, 60% of people live near Vulcan sites. In short, growth will come.
Key Points from Vulcan Materials Q4 2025 Earnings
- Revenue rose 7% to $7.9 billion.
- Earnings are up 13% to $2.3 billion.
- Cash rose 29% to $1.8 billion.
- Tons are up 3% on the year.
- Price rose 6% on a mix basis.
- Profit per ton rose 7% to $11.33.
- The 2026 outlook calls for 1%-3% more volume.
- Price growth is set at 4%-6% for next year.
- Profit will be $2.4-$2.6 billion.
- Debt fell to a safe 1.9x level.
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