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Vulcan Materials 8-K Report, Financial Results (Feb 17, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed February 17, 2026
Period End
February 17, 2026
Security
VMC
In the record · 2016–202610-K1110-Q338-K128

VMC filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 128 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Apr ’18Apr ’18
  2. Material agreement8-K · Apr ’20Apr ’20
  3. Leadership change8-K · Jul ’22Jul ’22
  4. Material agreement8-K · Nov ’24Nov ’24

01—Abstract

Summary

Summary of the 8-K filed February 17, 2026. Cited figures are marked; the original filing is the authoritative source.

Vulcan Materials Company (NYSE: VMC) reported fourth quarter and full year 2025 results on February 17, 2026, as furnished in Exhibit 99.1 to this Form 8-K.

For full year 2025, total revenues were $7.94 billiona versus $7.42 billion in 2024, gross profit was $2.18 billion versus $2.00 billion, and net earnings attributable to Vulcan were $1.08 billion versus $912 million. Adjusted EBITDA rose to $2.32 billion from $2.06 billion, with Adjusted EBITDA margin of 29.3 percent versus 27.7 percent. Diluted earnings per share from continuing operations were $8.15 versus $6.91, and adjusted diluted EPS was $8.00 versus $7.53.

Cash provided by operating activities was $1.8 billionb, a 29 percent increase. Aggregates results drove the year. Full year aggregates shipments increased 3 percent to 226.8 million tons, and freight-adjusted sales price per ton rose to $21.98.

Cash gross profit per ton reached $11.33c, an increase of 7 percent, which the company described as its twelfth consecutive quarter of at least high single-digit improvement on a trailing-twelve-months basis. Fourth quarter results were softer, with gross profit of $487 million versus $537 million in the prior year quarter and gross margin of 28.7 percent versus 33.0 percent. The company cited reported price impacts from unfavorable geographic and product mix.

Full year SAG expense was $564 milliond, or 7.1 percent of revenues. Management guided 2026 Adjusted EBITDA to between $2.4 and $2.6 billion and net earnings attributable to Vulcan to $1.1 to $1.3 billion. Its aggregates outlook calls for total shipments up 1 to 3 percent and freight-adjusted price improvement of 4 to 6 percent.

The company also completed the disposition of its asphalt and construction services assets in the greater Houston market and agreed to sell its California ready-mixed concrete businesses, with that transaction expected to close in the second quarter of 2026. Year-end total debt to Adjusted EBITDA was 1.9 times, and return on average invested capital on a trailing-twelve-months basis was 15.7 percent.

02—Key points

Key Highlights

  1. Full year 2025 revenues of $7.94 billion, up from $7.42 billion, and Adjusted EBITDA of $2.32 billion, up from $2.06 billion, with Adjusted EBITDA margin of 29.3 percent versus 27.7 percent.
  2. Full year diluted EPS from continuing operations of $8.15 versus $6.91; adjusted diluted EPS of $8.00 versus $7.53.
  3. Aggregates cash gross profit per ton of $11.33 for 2025, up 7 percent, with freight-adjusted sales price of $21.98 per ton.
  4. Fourth quarter gross profit of $487 million versus $537 million a year earlier, with gross margin of 28.7 percent versus 33.0 percent, reflecting unfavorable mix and prior-year acquisition effects on reported price.
  5. 2026 guidance: Adjusted EBITDA of $2.4 to $2.6 billion, net earnings attributable to Vulcan of $1.1 to $1.3 billion, and capital spending of $750 to $800 million.
  6. Cash from operations of $1.8 billion in 2025, up 29 percent; $698 million returned to shareholders through $438 million of buybacks and $260 million of dividends.
  7. Portfolio actions: completed sale of Houston-area asphalt and construction services assets and agreed to sell California ready-mixed concrete businesses, expected to close in the second quarter of 2026.

03—Questions

Frequently Asked Questions

  1. How did Vulcan perform in full year 2025?

    Total revenues rose to $7.94 billion from $7.42 billion, and net earnings attributable to Vulcan increased to $1.08 billion from $912 million. Adjusted EBITDA reached $2.32 billion, with margin of 29.3 percent compared with 27.7 percent in 2024.

  2. Why was fourth quarter 2025 gross margin lower than the prior year?

    Fourth quarter gross margin in aggregates fell to 28.7 percent from 33.0 percent in the prior year quarter, and the company said reported price was affected by unfavorable geographic and product mix and prior year acquisitions. Prior year shipments had also been aided by demand after Hurricane Helene in Western North Carolina and East Tennessee.

  3. What does Vulcan expect for 2026?

    Management expects Adjusted EBITDA of $2.4 to $2.6 billion and net earnings attributable to Vulcan of $1.1 to $1.3 billion. Aggregates shipments are expected to rise 1 to 3 percent and freight-adjusted price to improve 4 to 6 percent. Selling, administrative and general expense is expected at $580 to $590 million, and interest expense at approximately $225 million.

  4. How strong is Vulcan's balance sheet?

    At December 31, 2025, the ratio of total debt to Adjusted EBITDA was 1.9 times, or 1.8 times on a net debt basis. The weighted average debt maturity was 14 years, and the effective weighted average interest rate was 5 percent. Total debt was $4.36 billion.

  5. What portfolio changes did Vulcan make?

    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. The California transaction is subject to regulatory approvals and is expected to close in the second quarter of 2026. The company said the proceeds can be redeployed into growth opportunities.

04—Continue

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