Jun 2026 (Q2 FY26) — Jul 29, 2026
Vulcan Materials Company Q2 FY26 — Strong Aggregates Performance Despite Headwinds
Read the full callVulcan Materials Company (VMC) earnings
- Mar 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Vulcan Materials Company earnings: last reported Wed, 29 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,756 | +7.4% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | 15.1 | +1.3 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | 166 | +28.4% YoY | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
11 of 15 judged targets kept · 22 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Closing of the announced California ready-mixed concrete divestiture | close during the second quarter of 2026 | Mar 2026 | We finalized the divestitures of our concrete operations in California | Achieved |
| Full-year aggregates cash gross profit per ton growth | expansion exceeding historical averages (guided at least high single digit) | Sep 2025 | Second quarter aggregates cash gross profit per ton topped $12 and was $0.14 higher than the prior year | At Risk |
| Full-year adjusted EBITDA | $2.4 billion to $2.6 billion | Dec 2025 | we reiterate our full year adjusted EBITDA guidance range of $2.4 billion to $2.6 billion | On Track |
4 of Vulcan Materials CO's 37 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 34 more targets are in the full ledger.
Claimed
- Adjusted EBITDA reached $654 million, approximating the prior year despite $40 million in energy headwinds.
- Aggregates cash gross profit per ton topped $12, an increase of $0.14 compared to the prior year.
- Mix-adjusted average selling prices for aggregates improved 5% year-over-year, with widespread improvement.
- Aggregates freight-adjusted unit cash cost of sales increased only 3% year-over-year, excluding diesel.
- Net debt to adjusted EBITDA leverage stood at 1.7x at quarter end, providing ample capacity for acquisitions.
Qualified
- The NAFTA arbitration against Mexico resulted in immaterial damages awarded, despite the tribunal finding Mexico's actions arbitrary, grossly unfair, and unjust.
- Residential construction continues to struggle due to ongoing lack of affordability, impacting demand in that segment.
- The company faced significant energy headwinds of almost $40 million in the second quarter.
Price
$257.45 −0.07% · −$0.18
Performance −12.8% 1Y
1Y: $295.35 on 17 Oct 2025 → $257.45. High $330.26 (10 Feb 2026), low $240.83 (18 Sept 2026).
- Previous close
- $257.63
- 52-week range
- $240.83 – $330.26
- One year
- −12.87%
Overview
- Symbol
- VMC
- Sector
- Materials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
11 of 15 judged targets kept · 22 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Closing of the announced California ready-mixed concrete divestiture | close during the second quarter of 2026 | Mar 2026 | We finalized the divestitures of our concrete operations in California | Achieved |
| Full-year aggregates cash gross profit per ton growth | expansion exceeding historical averages (guided at least high single digit) | Sep 2025 | Second quarter aggregates cash gross profit per ton topped $12 and was $0.14 higher than the prior year | At Risk |
| Full-year adjusted EBITDA | $2.4 billion to $2.6 billion | Dec 2025 | we reiterate our full year adjusted EBITDA guidance range of $2.4 billion to $2.6 billion | On Track |
Claimed
- Adjusted EBITDA reached $654 million, approximating the prior year despite $40 million in energy headwinds.
- Aggregates cash gross profit per ton topped $12, an increase of $0.14 compared to the prior year.
- Mix-adjusted average selling prices for aggregates improved 5% year-over-year, with widespread improvement.
- Aggregates freight-adjusted unit cash cost of sales increased only 3% year-over-year, excluding diesel.
- Net debt to adjusted EBITDA leverage stood at 1.7x at quarter end, providing ample capacity for acquisitions.
Qualified
- The NAFTA arbitration against Mexico resulted in immaterial damages awarded, despite the tribunal finding Mexico's actions arbitrary, grossly unfair, and unjust.
- Residential construction continues to struggle due to ongoing lack of affordability, impacting demand in that segment.
- The company faced significant energy headwinds of almost $40 million in the second quarter.
The full ledger
Open Vulcan Materials CO’s full ledger
A free account opens 5 company ledgers a month. All 37 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 29, 2026
Vulcan Materials Q1 FY26 — Solid Start with Strong Adjusted EBITDA Growth and Pricing Momentum
Read the full callDec 2025 (Q4 FY25) — Feb 17, 2026
Vulcan Materials Q4 FY25 — Robust Earnings & Strategic Growth Amidst Mixed Demand
Read the full callEvery analysed call
Vulcan Materials Company earnings calls (VMC)
Financials
What the filings say
Net profit, year on year: +28% (quarter to mar 2026 against mar 2025).
| Line item | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 2,014 | 2,004 | 1,854 | 1,635 | 2,102 | 2,292 | 1,913 | 1,756 |
| Operating profit | 454 | 337 | 401 | 226 | 471 | 543 | 379 | 265 |
| Operating margin | 22.5% | 16.8% | 21.6% | 13.8% | 22.4% | 23.7% | 19.8% | 15.1% |
| Interest | 40 | 38 | 74 | 60 | 59 | 55 | 66 | 54 |
| Profit before tax | 405 | 295 | 339 | 164 | 414 | 489 | 323 | 213 |
| Tax rate | 23.3% | 28.9% | 12.7% | 20.6% | 22.0% | 23.0% | 21.7% | 21.6% |
| Net profit | 308 | 208 | 294 | 129 | 321 | 375 | 252 | 166 |
| EPS ($ per share) | 2.33 | 1.57 | — | 0.97 | 2.43 | 2.84 | — | 1.27 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 132 | 132 | 133 | 133 | 133 | 132 | — | — |
| Reserves | 2,445 | 2,896 | 3,274 | 3,749 | 4,111 | 4,615 | 5,214 | 5,590 |
| Total liabilities | 4,629 | 5,027 | 5,660 | 7,115 | 7,282 | 7,038 | 8,962 | 8,152 |
| Fixed assets | 4,237 | 4,316 | 4,426 | 5,547 | 6,051 | 6,218 | 8,462 | 8,149 |
| Total assets | 9,832 | 10,649 | 11,687 | 13,683 | 14,235 | 14,546 | 17,105 | 16,700 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 833 | 984 | 1,070 | 1,012 | 1,148 | 1,537 | 1,410 | 1,813 |
| Cash from investing | -670 | -416 | -381 | -1,874 | -1,053 | -163 | -2,815 | -529 |
| Cash from financing | -265 | -338 | 235 | -94 | -175 | -586 | 1,057 | -1,695 |
| Net cash flow | -102 | 230 | 924 | -956 | -80 | 788 | -348 | -411 |
| Capital expenditure | -469 | -384 | -362 | -451 | -613 | -873 | -603 | -678 |
| Free cash flow | 364 | 600 | 708 | 561 | 536 | 664 | 806 | 1,135 |
VMC revenue by segment
Aggregates grew from 72% to 76% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Aggregates | 72% | 74% | 76% | 72% | 71% | 73% | 77% | 76% | +8.3% |
| Asphalt | 19% | 18% | 13% | 18% | 18% | 16% | 12% | 15% | -10.5% |
| Concrete | 9% | 9% | 11% | 10% | 10% | 11% | 11% | 9% | -15.3% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q2 FY2026 · share of revenue
- Gulf Coast 46% ↓ 6 pt
- East 32% ↑ 4 pt
- West 28% ↑ 3 pt
As VMC cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
86 filings between Nov 4, 2025 and Aug 21, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$15.03M
18 sales by 7 insiders
Compensation
not trading decisions- 35
- Option exercise — converted options into shares
- 33
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| BAKER THOMPSON S II | — | $6.51M | Dec 11, 2025 |
| Hill J Thomas | — | $3.87M | Aug 21, 2026 |
| Clement David P | — | $1.79M | Aug 7, 2026 |
| HALL GRAYSON | — | $1.35M | Nov 10, 2025 |
| Bass Stanley G | — | $959.9K | Nov 7, 2025 |
| Anderson Melissa H. | — | $345.3K | Feb 20, 2026 |
| Franklin Denson N. III | — | $196.2K | Dec 10, 2025 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Aug 21, 2026 | Hill J Thomas Director | Sale | 3,762 | $1.04M |
| Aug 21, 2026 | Hill J Thomas Director | Sale | 5,696 | $1.57M |
| Aug 21, 2026 | Hill J Thomas Director | Sale | 4,000 | $1.11M |
| Aug 21, 2026 | Hill J Thomas Director | Sale | 542 | $150.2K |
| Aug 12, 2026 | Hill J Thomas Director | Tax withheld | 18,969 | $5.46M |
| Aug 12, 2026 | Hill J Thomas Director | Option exercise | 26,100 | $2.95M |
| Aug 12, 2026 | Hill J Thomas Director | Tax withheld | 17,962 | $5.17M |
| Aug 12, 2026 | Hill J Thomas Director | Option exercise | 27,000 | $3.62M |
| Aug 12, 2026 | Hill J Thomas Director | Tax withheld | 17,287 | $4.98M |
| Aug 12, 2026 | Hill J Thomas Director | Option exercise | 24,800 | $4.08M |
| Aug 12, 2026 | Hill J Thomas Director | Option exercise | 22,400 | $4.15M |
| Aug 12, 2026 | Hill J Thomas Director | Tax withheld | 17,176 | $4.94M |
| Aug 12, 2026 | Hill J Thomas Director | Option exercise | 21,670 | $3.91M |
| Aug 12, 2026 | Hill J Thomas Director | Tax withheld | 18,882 | $5.43M |
| Aug 7, 2026 | Clement David P Senior Vice President | Sale | 2,000 | $570.2K |
| Jun 15, 2026 | Clement David P Senior Vice President | Sale | 2,212 | $646.5K |
| Jun 12, 2026 | HALL GRAYSON Director | Option exercise | 655 | — |
| Jun 12, 2026 | KENNARD LYDIA H Director | Option exercise | 655 | — |
| Feb 23, 2026 | Clement David P Senior Vice President | Tax withheld | 3,046 | $929.9K |
| Feb 23, 2026 | Bass Stanley G Chief Strategy Officer | Tax withheld | 832 | $254.0K |
| Feb 23, 2026 | Pruitt Ronnie A Chief Executive Officer | Tax withheld | 475 | $145.0K |
| Feb 23, 2026 | Pruitt Ronnie A Chief Executive Officer | Tax withheld | 3,792 | $1.16M |
| Feb 23, 2026 | BAKER THOMPSON S II President | Tax withheld | 951 | $290.3K |
| Feb 23, 2026 | Pigg Randy L. Vice President and Controller | Tax withheld | 149 | $45.5K |
| Feb 23, 2026 | Hill J Thomas Director | Tax withheld | 3,755 | $1.15M |
| Feb 23, 2026 | Carlisle Mary Andrews SVP and CFO | Tax withheld | 790 | $241.2K |
| Feb 23, 2026 | Shah Mitesh Bansilal SVP and CHRO | Tax withheld | 134 | $40.9K |
| Feb 23, 2026 | Perkins Jerry F Jr Chief Administrative Officer | Tax withheld | 433 | $132.2K |
| Feb 23, 2026 | Perkins Jerry F Jr Chief Administrative Officer | Tax withheld | 3,792 | $1.16M |
| Feb 23, 2026 | Clement David P Senior Vice President | Tax withheld | 411 | $125.5K |
| Feb 21, 2026 | Clement David P Senior Vice President | Option exercise | 1,110 | — |
| Feb 21, 2026 | Clement David P Senior Vice President | Option exercise | 8,231 | — |
| Feb 21, 2026 | Bass Stanley G Chief Strategy Officer | Option exercise | 1,980 | — |
| Feb 21, 2026 | Pruitt Ronnie A Chief Executive Officer | Option exercise | 1,110 | — |
| Feb 21, 2026 | Hill J Thomas Director | Option exercise | 8,940 | — |
| Feb 21, 2026 | BAKER THOMPSON S II President | Option exercise | 2,570 | — |
| Feb 21, 2026 | Carlisle Mary Andrews SVP and CFO | Option exercise | 1,780 | — |
| Feb 21, 2026 | Shah Mitesh Bansilal SVP and CHRO | Option exercise | 300 | — |
| Feb 21, 2026 | Pigg Randy L. Vice President and Controller | Option exercise | 420 | — |
| Feb 21, 2026 | Perkins Jerry F Jr Chief Administrative Officer | Option exercise | 1,010 | — |
| Feb 21, 2026 | Perkins Jerry F Jr Chief Administrative Officer | Option exercise | 8,550 | — |
| Feb 21, 2026 | Pruitt Ronnie A Chief Executive Officer | Option exercise | 8,550 | — |
| Feb 20, 2026 | Anderson Melissa H. Director | Sale | 1,137 | $345.3K |
| Feb 13, 2026 | Hill J Thomas Director | Option exercise | 50,181 | — |
| Feb 13, 2026 | Pruitt Ronnie A Chief Executive Officer | Tax withheld | 2,306 | $742.3K |
| Feb 13, 2026 | Pruitt Ronnie A Chief Executive Officer | Option exercise | 6,212 | — |
| Feb 13, 2026 | BAKER THOMPSON S II President | Tax withheld | 5,238 | $1.69M |
| Feb 13, 2026 | BAKER THOMPSON S II President | Option exercise | 14,445 | — |
| Feb 13, 2026 | Perkins Jerry F Jr Senior Vice President | Tax withheld | 2,536 | $816.4K |
| Feb 13, 2026 | Perkins Jerry F Jr Senior Vice President | Option exercise | 5,670 | — |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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