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BIRMINGHAM, Ala., July 27, 2026 /PRNewswire/ -- Vulcan Materials Company (NYSE: VMC), the nation's largest producer of construction aggregates, today provided an update with respect to its North American Free Trade Agreement (NAFTA) arbitration against Mexico originally filed in 2018.

Posted by Defense World Staff on Jul 27th, 2026

Dai ichi Life Insurance Company Ltd lowered its holdings in Vulcan Materials Company (NYSE:VMC – Free Report) by 77.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,648 shares of the construction company’s stock after selling 22,476 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Vulcan Materials were worth $1,810,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VMC. Atria Investments Inc boosted its holdings in shares of Vulcan Materials by 54.1% during the fourth quarter. Atria Investments Inc now owns 12,334 shares of the construction company’s stock valued at $3,518,000 after acquiring an additional 4,331 shares during the period. Y.D. More Investments Ltd acquired a new stake in shares of Vulcan Materials in the 4th quarter worth about $1,318,000. North Dakota State Investment Board bought a new stake in Vulcan Materials in the 4th quarter valued at about $1,293,000. Westfield Capital Management Co. LP lifted its position in Vulcan Materials by 7.4% in the 4th quarter. Westfield Capital Management Co. LP now owns 254,044 shares of the construction company’s stock valued at $72,459,000 after purchasing an additional 17,488 shares during the last quarter. Finally, ABC Arbitrage SA bought a new stake in Vulcan Materials in the 4th quarter valued at about $5,821,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity In related news, SVP David P. Clement sold 2,212 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $292.29, for a total transaction of $646,545.48. Following the transaction, the senior vice president owned 8,716 shares in the company, valued at $2,547,599.64. This trade represents a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is owned by company insiders.

Vulcan Materials Stock Performance VMC stock opened at $280.20 on Monday. The company has a market capitalization of $36.36 billion, a P/E ratio of 33.32, a PEG ratio of 2.01 and a beta of 1.05. The company has a 50-day simple moving average of $286.78 and a 200 day simple moving average of $290.55. Vulcan Materials Company has a fifty-two week low of $252.35 and a fifty-two week high of $331.09. The company has a quick ratio of 1.89, a current ratio of 2.59 and a debt-to-equity ratio of 0.51.

Vulcan Materials (NYSE:VMC – Get Free Report) last announced its earnings results on Wednesday, April 29th. The construction company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.25. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.64 billion. Vulcan Materials had a net margin of 13.81% and a return on equity of 12.95%. Vulcan Materials’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.00 EPS. Sell-side analysts predict that Vulcan Materials Company will post 9.3 earnings per share for the current fiscal year.

Vulcan Materials Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, August 13th will be issued a $0.52 dividend. The ex-dividend date is Thursday, August 13th. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. Vulcan Materials’s dividend payout ratio (DPR) is 24.73%.

Analysts Set New Price Targets Several research firms have commented on VMC. Royal Bank Of Canada decreased their target price on shares of Vulcan Materials from $298.00 to $293.00 and set a “sector perform” rating for the company in a research report on Tuesday, June 30th. Wall Street Zen cut Vulcan Materials from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Citigroup reduced their price objective on Vulcan Materials from $365.00 to $355.00 and set a “buy” rating for the company in a research report on Friday, May 1st. UBS Group decreased their price objective on Vulcan Materials from $350.00 to $349.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. Finally, Morgan Stanley decreased their price objective on Vulcan Materials from $322.00 to $321.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $327.79.

View Our Latest Stock Report on Vulcan Materials

Vulcan Materials Profile (Free Report)

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.

See Also Five stocks we like better than Vulcan Materials RTX and Lockheed Earnings: Can Strong Guidance Reset the Defense Trade? These 4 Earnings Reports Expose the Market’s Growing Economic Divide Broadcom May Be the Biggest Winner From Alphabet’s Earnings Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit Want to see what other hedge funds are holding VMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vulcan Materials Company (NYSE:VMC – Free Report).

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Posted by Defense World Staff on Jul 27th, 2026

Caxton Associates LLP acquired a new position in Vulcan Materials Company (NYSE:VMC – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,197 shares of the construction company’s stock, valued at approximately $871,000.

Other institutional investors have also recently made changes to their positions in the company. Cloverfields Capital Group LP bought a new position in Vulcan Materials in the 1st quarter worth approximately $5,087,000. Bank of Nova Scotia raised its position in shares of Vulcan Materials by 83.4% during the first quarter. Bank of Nova Scotia now owns 39,989 shares of the construction company’s stock valued at $10,889,000 after buying an additional 18,182 shares during the last quarter. Sei Investments Co. raised its position in shares of Vulcan Materials by 12.7% during the first quarter. Sei Investments Co. now owns 168,343 shares of the construction company’s stock valued at $45,840,000 after buying an additional 18,971 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Vulcan Materials by 6.6% during the first quarter. Cetera Investment Advisers now owns 19,972 shares of the construction company’s stock valued at $5,438,000 after buying an additional 1,231 shares during the last quarter. Finally, Aureus Asset Management LLC purchased a new position in shares of Vulcan Materials in the first quarter worth $212,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Up 0.2% Shares of NYSE:VMC opened at $280.20 on Monday. The company has a current ratio of 2.59, a quick ratio of 1.89 and a debt-to-equity ratio of 0.51. Vulcan Materials Company has a 12 month low of $252.35 and a 12 month high of $331.09. The company has a 50-day moving average price of $286.78 and a 200 day moving average price of $290.55. The company has a market cap of $36.36 billion, a price-to-earnings ratio of 33.32, a PEG ratio of 2.01 and a beta of 1.05.

Vulcan Materials (NYSE:VMC – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The construction company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.10 by $0.25. Vulcan Materials had a return on equity of 12.95% and a net margin of 13.81%.The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the business posted $1.00 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. As a group, equities research analysts predict that Vulcan Materials Company will post 9.3 earnings per share for the current year.

Vulcan Materials Announces Dividend The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, August 13th will be issued a $0.52 dividend. The ex-dividend date is Thursday, August 13th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.7%. Vulcan Materials’s payout ratio is 24.73%.

Insider Activity at Vulcan Materials In other news, SVP David P. Clement sold 2,212 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $292.29, for a total transaction of $646,545.48. Following the transaction, the senior vice president owned 8,716 shares of the company’s stock, valued at approximately $2,547,599.64. The trade was a 20.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In A number of brokerages recently weighed in on VMC. Citigroup dropped their target price on shares of Vulcan Materials from $365.00 to $355.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Morgan Stanley reduced their price target on shares of Vulcan Materials from $322.00 to $321.00 and set an “equal weight” rating on the stock in a report on Monday, April 6th. UBS Group decreased their price target on shares of Vulcan Materials from $350.00 to $349.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Wells Fargo & Company cut their price objective on Vulcan Materials from $310.00 to $305.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. Finally, Royal Bank Of Canada cut their price objective on Vulcan Materials from $298.00 to $293.00 and set a “sector perform” rating for the company in a research report on Tuesday, June 30th. Eight analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Vulcan Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $327.79.

Get Our Latest Stock Report on VMC

Vulcan Materials Company Profile (Free Report)

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.

Recommended Stories Five stocks we like better than Vulcan Materials RTX and Lockheed Earnings: Can Strong Guidance Reset the Defense Trade? These 4 Earnings Reports Expose the Market’s Growing Economic Divide Broadcom May Be the Biggest Winner From Alphabet’s Earnings Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit Want to see what other hedge funds are holding VMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vulcan Materials Company (NYSE:VMC – Free Report).

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Posted by Defense World Staff on Jul 22nd, 2026

Bessemer Group Inc. increased its position in Vulcan Materials Company (NYSE:VMC – Free Report) by 20.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 11,294 shares of the construction company’s stock after buying an additional 1,927 shares during the period. Bessemer Group Inc.’s holdings in Vulcan Materials were worth $3,074,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new position in shares of Vulcan Materials in the fourth quarter valued at about $383,613,000. Egerton Capital UK LLP purchased a new stake in shares of Vulcan Materials during the fourth quarter worth about $273,861,000. Arrowstreet Capital Limited Partnership raised its stake in Vulcan Materials by 121.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 717,409 shares of the construction company’s stock valued at $204,619,000 after purchasing an additional 393,339 shares during the period. Assenagon Asset Management S.A. raised its stake in Vulcan Materials by 993.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 396,628 shares of the construction company’s stock valued at $113,126,000 after purchasing an additional 360,368 shares during the period. Finally, Freestone Grove Partners LP purchased a new position in Vulcan Materials in the 3rd quarter worth approximately $98,911,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Stock Performance NYSE VMC opened at $276.35 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.59 and a quick ratio of 1.89. Vulcan Materials Company has a 1-year low of $252.35 and a 1-year high of $331.09. The business has a 50 day simple moving average of $286.48 and a two-hundred day simple moving average of $290.84. The stock has a market capitalization of $35.86 billion, a PE ratio of 32.86, a P/E/G ratio of 2.03 and a beta of 1.05.

Vulcan Materials (NYSE:VMC – Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The construction company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.25. Vulcan Materials had a return on equity of 12.95% and a net margin of 13.81%.The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the prior year, the firm earned $1.00 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, research analysts predict that Vulcan Materials Company will post 9.23 EPS for the current fiscal year.

Vulcan Materials Announces Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, August 13th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, August 13th. Vulcan Materials’s dividend payout ratio (DPR) is presently 24.73%.

Insider Buying and Selling at Vulcan Materials In other news, SVP David P. Clement sold 2,212 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $292.29, for a total value of $646,545.48. Following the sale, the senior vice president directly owned 8,716 shares in the company, valued at $2,547,599.64. The trade was a 20.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.65% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In Several research analysts have weighed in on VMC shares. Stephens upped their price target on Vulcan Materials from $330.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Raymond James Financial reiterated an “outperform” rating on shares of Vulcan Materials in a research report on Wednesday, July 15th. Berenberg Bank set a $283.00 target price on shares of Vulcan Materials and gave the stock a “hold” rating in a report on Tuesday, June 2nd. UBS Group dropped their target price on shares of Vulcan Materials from $350.00 to $349.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. Finally, Barclays raised their target price on shares of Vulcan Materials from $296.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Vulcan Materials has an average rating of “Moderate Buy” and a consensus price target of $327.79.

Check Out Our Latest Stock Report on Vulcan Materials

About Vulcan Materials (Free Report)

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.

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BIRMINGHAM, Ala., July 10, 2026 /PRNewswire/ -- The Board of Directors of Vulcan Materials Company (NYSE: VMC) today declared a quarterly cash dividend of $0.52 per share on its common stock. The dividend will be payable on September 2, 2026, to shareholders of record at the close of business on August 13, 2026.

Vulcan Materials Company, a member of the S&P 500 Index with headquarters in Birmingham, Alabama, is the nation's largest producer of construction aggregates—primarily crushed stone, sand and gravel—and a major producer of aggregates-based construction materials, including asphalt and ready-mixed concrete. For additional information about Vulcan, go to www.vulcanmaterials.com.

Investor Contact: Mark Warren (205) 298-3220
Media Contact: Jack Bonnikson (205) 298-3220

SOURCE Vulcan Materials Company

Also from this source

Vulcan Materials Company leverages a geographic moat and pricing power to drive robust growth in U.S. construction aggregates. VMC's Q1 2026 revenue rose 7.4% to $1.76 billion, with adjusted EPS up 35% year-over-year, outperforming consensus estimates. Trading at a forward P/E of 31.1, VMC is 6% below a fair value estimate of $332, supporting a potential 9% total return by mid-2027.

Wall Street expects a year-over-year increase in earnings on higher revenues when Vulcan Materials (VMC - Free Report) reports results for the quarter ended March 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on April 29. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis construction materials company is expected to post quarterly earnings of $1.13 per share in its upcoming report, which represents a year-over-year change of +13%.

Revenues are expected to be $1.67 billion, up 2.1% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 1.46% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Vulcan?For Vulcan, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +14.74%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that Vulcan will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Vulcan would post earnings of $2.13 per share when it actually produced earnings of $1.70, delivering a surprise of -20.19%.

Over the last four quarters, the company has beaten consensus EPS estimates two times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Vulcan appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Posted by Defense World Staff on Apr 27th, 2026

Vulcan Materials (NYSE:VMC – Get Free Report) is expected to announce its Q1 2026 results before the market opens on Wednesday, April 29th. Analysts expect the company to announce earnings of $1.15 per share and revenue of $1.6467 billion for the quarter. Interested persons may review the information on the company’s upcoming Q1 2026 earning report for the latest details on the call scheduled for Wednesday, April 29, 2026 at 10:00 AM ET.

Vulcan Materials (NYSE:VMC – Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The construction company reported $1.70 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.41). Vulcan Materials had a net margin of 13.56% and a return on equity of 12.56%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter last year, the business earned $2.17 EPS. Vulcan Materials’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, analysts expect Vulcan Materials to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Vulcan Materials Stock Performance Shares of NYSE:VMC opened at $292.21 on Monday. The firm has a fifty day simple moving average of $285.45 and a two-hundred day simple moving average of $293.07. Vulcan Materials has a 52 week low of $241.91 and a 52 week high of $331.09. The company has a quick ratio of 1.97, a current ratio of 2.69 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $38.12 billion, a P/E ratio of 35.99, a PEG ratio of 2.20 and a beta of 1.10.

Vulcan Materials Increases Dividend The firm also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Monday, March 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, March 9th. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.49. Vulcan Materials’s payout ratio is 25.62%.

Insider Buying and Selling In other news, Director Melissa H. Anderson sold 1,137 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $303.72, for a total transaction of $345,329.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows Several hedge funds and other institutional investors have recently bought and sold shares of the company. Birchwood Financial Partners Inc. bought a new stake in Vulcan Materials during the 4th quarter valued at $29,000. Measured Wealth Private Client Group LLC bought a new position in shares of Vulcan Materials during the 3rd quarter worth $30,000. Kemnay Advisory Services Inc. purchased a new position in shares of Vulcan Materials during the fourth quarter valued at $40,000. DV Equities LLC purchased a new position in shares of Vulcan Materials during the fourth quarter valued at $53,000. Finally, UMB Bank n.a. raised its holdings in shares of Vulcan Materials by 30.4% in the fourth quarter. UMB Bank n.a. now owns 266 shares of the construction company’s stock valued at $76,000 after acquiring an additional 62 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

Wall Street Analysts Forecast Growth VMC has been the subject of several recent analyst reports. Citigroup lifted their price objective on shares of Vulcan Materials from $345.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. DA Davidson lowered their target price on shares of Vulcan Materials from $330.00 to $320.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Barclays dropped their price target on shares of Vulcan Materials from $320.00 to $296.00 and set an “overweight” rating for the company in a research note on Tuesday, March 31st. B. Riley Financial started coverage on shares of Vulcan Materials in a research report on Thursday, January 15th. They issued a “buy” rating and a $345.00 price objective on the stock. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Vulcan Materials in a research note on Tuesday, January 27th. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.08.

Check Out Our Latest Stock Analysis on Vulcan Materials

About Vulcan Materials (Get Free Report)

Vulcan Materials Company (NYSE: VMC) is a U.S.-based producer of construction materials that supplies the building and infrastructure markets. The company’s primary products include construction aggregates such as crushed stone, sand and gravel, as well as asphalt mixes and ready-mixed concrete. These materials are used in a wide range of projects including highways, commercial and residential construction, and public infrastructure.

Vulcan operates an integrated network of quarries, asphalt plants and concrete facilities to produce and deliver materials to contractors, municipalities and private developers.

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, /PRNewswire/ -- Vulcan Materials Company (NYSE: VMC), the nation's largest producer of construction aggregates, today announced results for the quarter ended March 31, 2026. 

Financial Highlights Include:

First Quarter

Trailing-Twelve Months

Amounts in millions, except per unit data

2026

2025

2026

2025

Total revenues

$     1,756

$     1,635

$     8,062

$     7,507

Gross profit

$        423

$        365

$     2,232

$     2,060

Selling, Administrative and General (SAG)

$        136

$        138

$        562

$        540

As % of Total revenues

7.7 %

8.5 %

7.0 %

7.2 %

Net earnings attributable to Vulcan

$        165

$        129

$     1,113

$        938

Adjusted EBITDA

$        447

$        411

$     2,360

$     2,145

Adjusted EBITDA Margin

25.5 %

25.1 %

29.3 %

28.6 %

Earnings attributable to Vulcan from
     continuing operations per diluted share

$       1.27

$       0.98

$       8.45

$       7.11

Adjusted earnings attributable to Vulcan from
     continuing operations per diluted share

$       1.35

$       1.00

$       8.34

$       7.73

Aggregates segment

Shipments (tons)

50.0

47.8

229.0

219.5

Freight-adjusted sales price per ton

$     22.80

$     22.03

$     22.15

$     21.39

Gross profit per ton

$       8.01

$       7.48

$       8.77

$       8.52

Cash gross profit per ton

$     10.93

$     10.63

$     11.38

$     10.99

Ronnie Pruitt, Vulcan Materials' Chief Executive Officer, said, "The combination of our advantaged aggregates-led business and consistent focus on our strategic disciplines resulted in Adjusted EBITDA growth of 9 percent and margin expansion in the first quarter.  Our strategy and execution, enhanced by innovation and technology, position us well to deliver strong earnings growth and cash generation.  With this focus, and the financial strength and flexibility to grow, we will continue to drive sustainable value creation and win the future in aggregates." 

Segment Results

Aggregates
Segment gross profit increased 12 percent to $400 million ($8.01 per ton), and gross profit margin expanded 90 basis points to 27.6 percent.  Widespread pricing growth and effective cost control from operational execution drove cash gross profit per ton to $10.93.

As compared to the prior year, first quarter aggregates shipments increased 5 percent, supported by large projects and continued growth in public construction activity, as well as more typical weather in some markets.  Shipments in the prior year's first quarter were impacted by severe winter weather conditions.

Price increases effective at the beginning of the year resulted in widespread pricing growth across the Company's footprint.  Freight-adjusted selling prices increased 4 percent on a mix-adjusted basis (3.5 percent, or $0.77 per ton, on a reported basis) as compared to the prior year's first quarter.  Consistent with expectations, freight-adjusted unit cash cost of sales increased 4 percent, or $0.47 per ton, over the prior year.  

Asphalt and Concrete
Non-aggregates segment gross profit in the first quarter was $22 million, and cash gross profit was $38 million.  Asphalt gross profit margin improved sharply compared to the prior year's first quarter.  Shipments increased 2 percent, and price improved 3 percent.  First quarter results in the prior year included the Company's Houston asphalt and construction business that was divested in the fourth quarter of 2025.  Gross profit margin in the Concrete segment expanded to 5 percent.  First quarter results included the Company's California ready-mixed concrete business.  The disposition of these assets is expected to close in the second quarter, subject to final regulatory approvals and other customary closing conditions.

Selling, Administrative and General (SAG)

SAG expense in the quarter was $136 million, 2 percent lower than the prior year and 80 basis points lower as a percentage of revenue.  On a trailing-twelve months basis, SAG expense as a percent of total revenues was 7.0 percent and 20 basis points lower than the prior year. 

Financial Position, Liquidity and Capital Allocation

The Company remains well positioned for continued growth with a strong liquidity position and balance sheet profile.  As of March 31, 2026, the ratio of total debt to trailing-twelve months Adjusted EBITDA was 1.9 times and below the Company's target range of 2.0 to 2.5 times.  On a trailing-twelve months basis, return on average invested capital was 16.0 percent.

Capital expenditures for maintenance and growth projects were $90 million in the first quarter, and the Company returned $217 million to shareholders through $149 million of common stock repurchases and $68 million of dividends.   

Outlook

Regarding the Company's outlook, Mr. Pruitt said, "We reiterate our full-year outlook to deliver between $2.4 and $2.6 billion of Adjusted EBITDA.  Our execution in the first quarter, in addition to a healthy backlog supported by large projects and public construction activity, gives us good momentum heading into the rest of the year.  We continue to monitor the potential impacts from geopolitical uncertainty but, as always, will remain focused on what we can control to drive durable growth."

Conference Call

Vulcan will host a conference call at 9:00 a.m. CT on April 29, 2026.  A webcast will be available via the Company's website at www.vulcanmaterials.com.  Investors and other interested parties may access the teleconference live by calling 800-445-7795, or 785-424-1699 if outside the U.S.  The conference ID is 5306428.  The conference call will be recorded and available for replay at the Company's website approximately two hours after the call.

About Vulcan Materials Company

Vulcan Materials Company, a member of the S&P 500 Index with headquarters in Birmingham, Alabama, is the nation's largest supplier of construction aggregates – primarily crushed stone, sand and gravel – and a major producer of aggregates-based construction materials, including asphalt and ready-mixed concrete.  For additional information about Vulcan, go to www.vulcanmaterials.com.

Non-GAAP Financial Measures

Because GAAP financial measures on a forward-looking basis are not accessible, and reconciling information is not available without unreasonable effort, we have not provided reconciliations for forward-looking non-GAAP measures, other than the reconciliation of Projected Adjusted EBITDA as included in Appendix 2 hereto. For the same reasons, we are unable to address the probable significance of the unavailable information, which could be material to future results.

FORWARD-LOOKING STATEMENT DISCLAIMER

This document 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 other measures), dividend policy, shipment volumes, pricing, levels of capital expenditures, intended cost reductions and cost savings, anticipated profit improvements and/or planned divestitures and asset sales.  These forward-looking statements are sometimes identified by the use of terms and phrases such as "believe," "should," "would," "expect," "project," "estimate," "anticipate," "intend," "plan," "will," "can," "may" or similar expressions elsewhere in this document.  These statements are subject to numerous risks, uncertainties, and assumptions, including but not limited to general business conditions, competitive factors, pricing, energy costs, and other risks and uncertainties discussed in the reports Vulcan periodically files with the SEC.

Forward-looking statements are not guarantees of future performance and actual results, developments, and business decisions may vary significantly from those expressed in or implied by the forward-looking statements.  The following risks related to Vulcan's business, among others, could cause actual results to differ materially from those described in the forward-looking statements: general economic and business conditions; domestic and global political, economic or diplomatic developments, including the military conflict in the Middle East involving the United States, Israel and Iran; a pandemic, epidemic or other public health emergency; Vulcan's dependence on the construction industry, which is subject to economic cycles; the timing and amount of federal, state and local funding for infrastructure; changes in the level of spending for private residential and private nonresidential construction; changes in Vulcan's effective tax rate; the increasing reliance on information technology infrastructure, including the risks that the infrastructure does not work as intended, experiences technical difficulties or is subjected to cyber-attacks; the impact of the state of the global economy on Vulcan's businesses and financial condition and access to capital markets; international business operations and relationships, including actions taken by the Mexican government with respect to Vulcan's property and operations in that country; the highly competitive nature of the construction industry; the impact of future regulatory or legislative actions, including those relating to climate change, biodiversity, land use, wetlands, greenhouse gas emissions, the definition of minerals, tax policy and domestic and international trade; the outcome of pending legal proceedings; pricing of Vulcan's products; weather and other natural phenomena, including the impact of climate change and availability of water; availability and cost of trucks, railcars, barges and ships as well as their licensed operators for transport of Vulcan's materials; energy costs; costs of hydrocarbon-based raw materials; healthcare costs; labor relations, shortages and constraints; the amount of long-term debt and interest expense incurred by Vulcan; changes in interest rates; volatility in pension plan asset values and liabilities, which may require cash contributions to the pension plans; the impact of environmental cleanup costs and other liabilities relating to existing and/or divested businesses; Vulcan's ability to secure and permit aggregates reserves in strategically located areas; Vulcan's ability to identify, close and successfully integrate acquisitions; the effect of changes in tax laws, guidance and interpretations; significant downturn in the construction industry may result in the impairment of goodwill or long-lived assets; changes in technologies, which could disrupt the way Vulcan does business and how Vulcan's products are distributed; the risks of open pit and underground mining; expectations relating to sustainability considerations; claims that our products do not meet regulatory requirements or contractual specifications; and other assumptions, risks and uncertainties detailed from time to time in the reports filed by Vulcan with the SEC.  All forward-looking statements in this communication are qualified in their entirety by this cautionary statement.  Vulcan disclaims and does not undertake any obligation to update or revise any forward-looking statement in this document except as required by law.

Table A

Vulcan Materials Company

and Subsidiary Companies

(in millions, except per share data)

Three Months Ended

Consolidated Statements of Earnings

March 31

(Condensed and unaudited)

2026

2025

Total revenues

$1,755.9

$1,634.6

Cost of revenues

(1,333.2)

(1,269.3)

Gross profit

422.7

365.3

Selling, administrative and general expenses

(135.7)

(138.3)

Gain (loss) on sale of property, plant & equipment

and businesses

(0.3)

7.4

Other operating expense, net

(21.3)

(8.0)

Operating earnings

265.4

226.4

Other nonoperating income (expense), net

1.4

(2.6)

Interest expense, net

(53.9)

(59.7)

Earnings from continuing operations

before income taxes

212.9

164.1

Income tax expense

(45.9)

(33.8)

Earnings from continuing operations

167.0

130.3

Loss on discontinued operations, net of tax

(1.0)

(0.9)

Net earnings

166.0

129.4

Earnings attributable to noncontrolling interest

(0.5)

(0.5)

Net earnings attributable to Vulcan

$165.5

$128.9

Basic earnings (loss) per share attributable to Vulcan

Continuing operations

$1.27

$0.98

Discontinued operations

$0.00

($0.01)

Net earnings

$1.27

$0.97

Diluted earnings (loss) per share attributable to Vulcan

Continuing operations

$1.27

$0.98

Discontinued operations

($0.01)

($0.01)

Net earnings

$1.26

$0.97

Weighted-average common shares outstanding

Basic

130.7

132.4

Assuming dilution

131.2

133.0

Effective tax rate from continuing operations

21.6 %

20.6 %

Table B

Vulcan Materials Company

and Subsidiary Companies

(in millions)

Consolidated Balance Sheets

March 31

December 31

March 31

(Condensed and unaudited)

2026

2025

2025

Assets

Cash and cash equivalents

$140.2

$183.3

$181.3

Restricted cash

3.5

6.1

11.6

Accounts and notes receivable

Accounts and notes receivable, gross

975.7

898.2

941.9

Allowance for credit losses

(10.1)

(10.5)

(13.0)

Accounts and notes receivable, net

965.6

887.7

928.9

Inventories

Finished products

564.1

557.7

570.3

Raw materials

41.0

36.7

65.7

Products in process

6.7

5.4

10.3

Operating supplies and other

84.0

80.7

74.7

Inventories

695.8

680.5

721.0

Other current assets

79.1

101.8

83.1

Assets held for sale

698.2

708.5

0.0

Total current assets

2,582.4

2,567.9

1,925.9

Investments and long-term receivables

33.7

33.7

31.3

Property, plant & equipment

Property, plant & equipment, cost

14,583.7

14,504.7

14,534.2

Allowances for depreciation, depletion & amortization

(6,483.4)

(6,356.1)

(6,152.9)

Property, plant & equipment, net

8,100.3

8,148.6

8,381.3

Operating lease right-of-use assets, net

525.9

521.5

566.0

Goodwill

3,780.9

3,780.9

3,815.0

Other intangible assets, net

1,478.8

1,489.0

1,846.3

Other noncurrent assets

170.9

158.8

146.3

Total assets

$16,672.9

$16,700.4

$16,712.1

Liabilities

Current maturities of long-term debt

0.0

0.4

0.5

Short-term debt

197.0

0.0

0.0

Trade payables and accruals

398.8

438.5

354.7

Other current liabilities

374.0

487.9

441.7

Liabilities held for sale

27.5

29.3

0.0

Total current liabilities

997.3

956.1

796.9

Long-term debt

4,363.0

4,361.7

4,907.9

Deferred income taxes, net

1,362.1

1,358.3

1,331.4

Deferred revenue

129.0

130.6

136.2

Noncurrent operating lease liabilities

525.8

522.6

556.1

Other noncurrent liabilities

820.0

822.2

825.1

Total liabilities

$8,197.2

$8,151.5

$8,553.6

Equity

Common stock, $1 par value

130.3

130.6

132.1

Capital in excess of par value

2,907.5

2,930.0

2,889.2

Retained earnings

5,537.7

5,590.1

5,238.8

Accumulated other comprehensive loss

(124.2)

(125.6)

(126.0)

Total shareholder's equity

8,451.3

8,525.1

8,134.1

Noncontrolling interest

24.4

23.8

24.4

Total equity

$8,475.7

$8,548.9

$8,158.5

Total liabilities and equity

$16,672.9

$16,700.4

$16,712.1

Table C

Vulcan Materials Company

and Subsidiary Companies

(in millions)

Three Months Ended

Consolidated Statements of Cash Flows

March 31

(Condensed and unaudited)

2026

2025

Operating Activities

Net earnings

$166.0

$129.4

Adjustments to reconcile net earnings to net cash provided by operating activities

Depreciation, depletion, accretion and amortization

170.3

186.4

Noncash operating lease expense

13.5

13.5

Net (gain) loss on sale of property, plant & equipment and businesses

0.3

(7.4)

Contributions to pension plans

(0.8)

(1.2)

Share-based compensation expense

15.5

13.9

Deferred income taxes, net

3.3

(1.8)

Changes in assets and liabilities before initial

effects of business acquisitions and dispositions

(130.5)

(85.2)

Other, net

3.5

3.9

Net cash provided by operating activities

$241.1

$251.5

Investing Activities

Purchases of property, plant & equipment

(176.5)

(168.0)

Proceeds from sale of property, plant & equipment

1.6

17.7

Proceeds from sale of businesses

0.0

19.0

Payment for businesses acquired, net of acquired cash and adjustments

0.0

4.7

Other, net

0.0

0.1

Net cash used for investing activities

($174.9)

($126.5)

Financing Activities

Proceeds from short-term debt

197.0

0.0

Payment of short-term debt and other financing obligations

(50.0)

0.0

Payment of current maturities and long-term debt

(0.4)

(400.4)

Payment of finance leases

(3.3)

(2.9)

Purchases of common stock

(149.5)

(38.1)

Dividends paid

(67.9)

(66.0)

Share-based compensation, shares withheld for taxes

(37.8)

(25.4)

Other, net

0.0

(0.1)

Net cash used for financing activities

($111.9)

($532.9)

Net decrease in cash and cash equivalents and restricted cash

(45.7)

(407.9)

Cash and cash equivalents and restricted cash at beginning of year

189.4

600.8

Cash and cash equivalents and restricted cash at end of period

$143.7

$192.9

Table D

Segment Financial Data and Unit Shipments

(in millions, except per unit data)

Three Months Ended

March 31

2026

2025

Total Revenues

Aggregates 1

$1,450.5

$1,335.9

Asphalt 2

215.8

208.7

Concrete

187.5

177.0

Segment sales

$1,853.8

$1,721.6

Aggregates intersegment sales

(97.9)

(87.0)

Total

$1,755.9

$1,634.6

Gross Profit

Aggregates

$400.3

$357.3

Asphalt

12.2

4.8

Concrete

10.2

3.2

Total

$422.7

$365.3

Depreciation, Depletion, Accretion and Amortization

Aggregates

$145.9

$150.4

Asphalt

11.2

12.0

Concrete

4.0

15.4

Other

9.2

8.6

Total

$170.3

$186.4

Average Unit Sales Price and Unit Shipments

Aggregates

Freight-adjusted revenues 3

$1,139.0

$1,052.0

Aggregates - tons

50.0

47.8

Freight-adjusted sales price 4

$22.80

$22.03

Other Products

Asphalt Mix - tons

2.3

2.2

Asphalt Mix - sales price 5

$83.71

$81.32

Ready-mixed concrete - cubic yards

1.0

0.9

Ready-mixed concrete - sales price 5

$190.45

$189.38

1 Includes product sales (crushed stone, sand and gravel, sand, and other aggregates), as well as freight & delivery

  costs that we pass along to our customers, and service revenues related to aggregates.

2 Includes product sales, as well as service revenues from our asphalt construction paving business.

3 Freight-adjusted revenues are Aggregates segment sales excluding freight & delivery revenues and

  other revenues related to services, such as landfill tipping fees, that are derived from our aggregates business.

4 Freight-adjusted sales price is calculated as freight-adjusted revenues divided by aggregates unit shipments.

5 Sales price is calculated by dividing revenues generated from the shipment of product (excluding service revenues

  generated by the segments) by total units of the product shipped.

Appendix 1

Reconciliation of Non-GAAP Measures

Aggregates segment freight-adjusted revenues is not a Generally Accepted Accounting Principle (GAAP) measure and should not be considered as an alternative to metrics defined by GAAP. We present this metric as it is consistent with the basis by which we review our operating results. We believe that this presentation is consistent with our competitors and meaningful to our investors as it excludes revenues associated with freight & delivery, which are pass-through activities. It also excludes other revenues related to services, such as landfill tipping fees, that are derived from our aggregates business. Additionally, we use this metric as the basis for calculating the average sales price of our aggregates products. Reconciliation of this metric to its nearest GAAP measure is presented below:

Aggregates Segment Freight-Adjusted Revenues

(in millions, except per unit data)

Three Months Ended

Trailing-Twelve Months Ended

March 31

March 31

2026

2025

2026

2025

Aggregates segment

Segment sales

$1,450.5

$1,335.9

$6,411.7

$5,994.1

Freight & delivery revenues 1

(288.2)

(264.3)

(1,239.0)

(1,207.0)

Other revenues

(23.3)

(19.6)

(100.3)

(90.3)

Freight-adjusted revenues

$1,139.0

$1,052.0

$5,072.4

$4,696.8

Unit shipments - tons

50.0

47.8

229.0

219.5

Freight-adjusted sales price

$22.80

$22.03

$22.15

$21.39

1 At the segment level, freight & delivery revenues include intersegment freight & delivery (which are eliminated at the consolidated

  level) and freight to remote distribution sites.

GAAP does not define "cash gross profit," and it should not be considered as an alternative to earnings measures defined by GAAP. We and the investment community use this metric to assess the operating performance of our business. Additionally, we present this metric as we believe that it closely correlates to long-term shareholder value. Cash gross profit adds back noncash charges for depreciation, depletion, accretion and amortization to gross profit. Segment cash gross profit per unit is computed by dividing segment cash gross profit by units shipped. Segment cash cost of sales per unit is computed by subtracting segment cash gross profit per unit from segment freight-adjusted sales price. Reconciliation of these metrics to their nearest GAAP measures are presented below:

Cash Gross Profit

(in millions, except per unit data)

Three Months Ended

Trailing-Twelve Months Ended

March 31

March 31

2026

2025

2026

2025

Aggregates segment

Gross profit

$400.3

$357.3

$2,007.8

$1,870.8

Depreciation, depletion, accretion and amortization

145.9

150.4

599.0

542.6

Cash gross profit

$546.2

$507.7

$2,606.8

$2,413.4

Unit shipments - tons

50.0

47.8

229.0

219.5

Gross profit per ton

$8.01

$7.48

$8.77

$8.52

Freight-adjusted sales price

$22.80

$22.03

$22.15

$21.39

Cash gross profit per ton

10.93

10.63

11.38

10.99

Freight-adjusted cash cost of sales per ton

$11.87

$11.40

$10.77

$10.40

Asphalt segment

Gross profit

$12.2

$4.8

$181.4

$170.1

Depreciation, depletion, accretion and amortization

11.2

12.0

48.9

47.4

Cash gross profit

$23.4

$16.8

$230.3

$217.5

Concrete segment

Gross profit

$10.2

$3.2

$42.8

$19.1

Depreciation, depletion, accretion and amortization

4.0

15.4

50.7

48.6

Cash gross profit

$14.2

$18.6

$93.5

$67.7

Appendix 2

Reconciliation of Non-GAAP Measures (Continued)

GAAP does not define "Earnings Before Interest, Taxes, Depreciation and Amortization" (EBITDA), and it should not be considered as an alternative to earnings measures defined by GAAP. We use this metric to assess the operating performance of our business and as a basis for strategic planning and forecasting as we believe that it closely correlates to long-term shareholder value. We do not use this metric as a measure to allocate resources. We adjust EBITDA for certain items to provide a more consistent comparison of earnings performance from period to period. Reconciliation of this metric to its nearest GAAP measure is presented below (numbers may not foot due to rounding):

EBITDA and Adjusted EBITDA

(in millions)

Three Months Ended

Trailing-Twelve Months Ended

March 31

March 31

2026

2025

2026

2025

Net earnings attributable to Vulcan

$165.5

$128.9

$1,113.2

$938.2

Income tax expense, including discontinued operations

45.5

33.4

317.9

253.8

Interest expense, net

53.9

59.7

220.5

190.9

Depreciation, depletion, accretion and amortization

170.3

186.4

732.4

667.7

EBITDA

$435.1

$408.4

$2,384.1

$2,050.6

Loss on discontinued operations

$1.4

$1.3

$6.2

$9.2

Gain on sale of real estate and businesses, net

0.0

0.0

(42.4)

(36.7)

Loss on impairments

0.0

0.0

0.0

86.6

Charges associated with divested operations

2.0

0.0

2.6

17.7

Acquisition related charges 1

0.0

1.2

0.8

17.4

CEO transition and reorganization charges2

8.6

0.0

8.6

0.0

Adjusted EBITDA

$447.1

$410.9

$2,359.8

$2,144.7

Total revenues

$1,755.9

$1,634.6

$8,062.3

$7,506.6

Adjusted EBITDA margin

25.5 %

25.1 %

29.3 %

28.6 %

1 Represents charges associated with acquisitions requiring clearance under federal antitrust laws.

2 Represents employee termination and other discrete charges directly related to organizational changes resulting from

  the appointment of Ronnie Pruitt as CEO, effective January 1, 2026.

Similar to our presentation of Adjusted EBITDA, we present Adjusted Diluted Earnings Per Share (EPS) attributable to Vulcan from continuing operations to provide a more consistent comparison of earnings performance from period to period. This metric is not defined by GAAP and should not be considered as an alternative to earnings measures defined by GAAP. Reconciliation of this metric to its nearest GAAP measure is presented below:

Adjusted Diluted EPS Attributable to Vulcan from Continuing Operations (Adjusted Diluted EPS)

Three Months Ended

Trailing-Twelve Months Ended

March 31

March 31

2026

2025

2026

2025

Net earnings attributable to Vulcan

$1.26

$0.97

$8.42

$7.06

Items included in Adjusted EBITDA above, net of tax

0.07

0.02

(0.16)

0.67

NOL carryforward valuation allowance

0.02

0.01

0.08

0.00

Adjusted diluted EPS attributable to Vulcan from

continuing operations

$1.35

$1.00

$8.34

$7.73

Projected Adjusted EBITDA is not defined by GAAP and should not be considered as an alternative to earnings measures defined by GAAP. Reconciliation of this metric to its nearest GAAP measure is presented below:

2026 Projected Adjusted EBITDA

(in millions)

Mid-point

Net earnings attributable to Vulcan

$1,210

Income tax expense, including discontinued operations

350

Interest expense, net

225

Depreciation, depletion, accretion and amortization

700

Projected EBITDA

$2,485

Items included in Adjusted EBITDA

$15

Projected Adjusted EBITDA

$2,500

Because GAAP financial measures on a forward-looking basis are not accessible, and reconciling information is not available without unreasonable effort, we have not provided reconciliations for forward-looking non-GAAP measures, other than the reconciliation of Projected Adjusted EBITDA as noted above. For the same reasons, we are unable to address the probable significance of the unavailable information, which could be material to future results.

Appendix 3

Reconciliation of Non-GAAP Measures (Continued)

Net debt to Adjusted EBITDA is not a GAAP measure and should not be considered as an alternative to metrics defined by GAAP. We, the investment community and credit rating agencies use this metric to assess our leverage. Net debt subtracts cash and cash equivalents and restricted cash from total debt. Reconciliation of this metric to its nearest GAAP measure is presented below:

Net Debt to Adjusted EBITDA

(in millions)

March 31

2026

2025

Debt

Current maturities of long-term debt

$0.0

$0.5

Short-term debt

197.0

0.0

Long-term debt

4,363.0

4,907.9

Total debt

$4,560.0

$4,908.4

Cash and cash equivalents and restricted cash

(143.7)

(192.9)

Net debt

$4,416.3

$4,715.5

Trailing-Twelve Months (TTM) Adjusted EBITDA

$2,359.8

$2,144.7

Total debt to TTM Adjusted EBITDA

 1.9x

 2.3x

Net debt to TTM Adjusted EBITDA

 1.9x

 2.2x

We define "Return on Invested Capital" (ROIC) as Adjusted EBITDA for the trailing-twelve months divided by average invested capital (as illustrated below) during the trailing 5-quarters. Our calculation of ROIC is considered a non-GAAP financial measure because we calculate ROIC using the non-GAAP metric EBITDA. We believe that our ROIC metric is meaningful because it helps investors assess how effectively we are deploying our assets. Although ROIC is a standard financial metric, numerous methods exist for calculating a company's ROIC. As a result, the method we use to calculate our ROIC may differ from the methods used by other companies. This metric is not defined by GAAP and should not be considered as an alternative to earnings measures defined by GAAP. Reconciliation of this metric to its nearest GAAP measure is presented below (numbers may not foot due to rounding):

Return on Invested Capital

(dollars in millions)

Trailing-Twelve Months Ended

March 31

2026

2025

Adjusted EBITDA

$2,359.8

$2,144.7

Average invested capital

Property, plant & equipment, net

$8,386.8

$7,175.1

Goodwill

3,809.6

3,624.3

Other intangible assets

1,655.4

1,549.0

Fixed and intangible assets

$13,851.8

$12,348.4

Current assets

$2,021.7

$2,057.7

Cash and cash equivalents

(214.4)

(328.0)

Current tax

(25.4)

(38.2)

Adjusted current assets

1,781.9

1,691.6

Current liabilities

(1,006.1)

(860.6)

Current maturities of long-term debt

0.4

80.5

Short-term debt

149.4

19.0

Adjusted current liabilities

(856.3)

(761.1)

Adjusted net working capital

$925.5

$930.5

Average invested capital

$14,777.3

$13,278.9

Return on invested capital

16.0 %

16.2 %

Investor Contact:  Mark Warren (205) 298-3220
Media Contact:  Jack Bonnikson (205) 298-3220

SOURCE Vulcan Materials Company

Vulcan Materials (VMC - Free Report) came out with quarterly earnings of $1.35 per share, beating the Zacks Consensus Estimate of $1.12 per share. This compares to earnings of $1 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +20.08%. A quarter ago, it was expected that this construction materials company would post earnings of $2.13 per share when it actually produced earnings of $1.7, delivering a surprise of -20.19%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Vulcan, which belongs to the Zacks Building Products - Concrete and Aggregates industry, posted revenues of $1.76 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 5.19%. This compares to year-ago revenues of $1.63 billion. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Vulcan shares have added about 2.2% since the beginning of the year versus the S&P 500's gain of 4.3%.

What's Next for Vulcan?While Vulcan has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Vulcan was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.69 on $2.16 billion in revenues for the coming quarter and $9.15 on $8.19 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products - Concrete and Aggregates is currently in the bottom 22% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Eagle Materials (EXP - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on May 19.

This maker of gypsum wallboard and cement is expected to post quarterly earnings of $1.47 per share in its upcoming report, which represents a year-over-year change of -29.3%. The consensus EPS estimate for the quarter has been revised 1% higher over the last 30 days to the current level.

Eagle Materials' revenues are expected to be $457.91 million, down 2.6% from the year-ago quarter.

Key Takeaways Vulcan posted first-quarter 2026 EPS of $1.35, up 35% YoY, beating estimates by 20.5%.The company's revenue rose 7.4% to $1.76B as aggregates shipments reached 50 million tons.VMC's margins improved on pricing and discipline, while the 2026 EBITDA outlook was reaffirmed. Vulcan Materials Company (VMC - Free Report) posted exceptional first-quarter 2026 results with adjusted earnings and total revenues beating the Zacks Consensus Estimate and increasing year over year.

The quarter’s results reflect benefits realized from the aggregates-led business and consistent focus on its strategic disciplines. Besides, efforts to incorporate top-tier innovation and technology advancements also aided the quarter’s financial performance.

VMC stock gained 4.8% during today’s pre-market trading hours following its earnings release.

Vulcan’s Q1 Earnings & RevenuesVMC reported adjusted earnings of $1.35 per share in the first quarter, beating the Zacks Consensus Estimate of $1.12 by 20.5%. The figure climbed 35% from the year-ago quarter’s adjusted earnings of $1.00.

Quarterly revenues were $1.76 billion, up 7.4% year over year and ahead of the consensus mark of $1.67 billion by 5.2%. Aggregates shipments rose to 50.0 million tons, supported by large projects and continued strength in public construction activity.

VMC Delivers Solid Margin GrowthProfitability expanded faster than sales in the quarter. Gross profit increased 15.7% year over year to $422.7 million, helped by higher pricing and disciplined operating execution across the footprint. Operating earnings improved 17.2% to $265.4 million. Net earnings attributable to Vulcan rose to $165.5 million from $128.9 million a year ago, reflecting stronger operating leverage and a cleaner mix of contributions.

Adjusted EBITDA increased 8.8% to $447.1 million, and the adjusted EBITDA margin widened to 25.5% from 25.1%, highlighting modest but important margin expansion early in the year.

Vulcan Tightens Cost Structure as SAG LeveragesBelow-the-line discipline complemented the operational gains. Selling, administrative and general (SAG) expenses were $135.7 million, modestly lower than the prior-year level of $138.3 million. SAG (as a percentage of revenue) improved year over year to 7.7% from 8.5%, signaling better overhead absorption.

Depreciation, depletion, accretion and amortization totaled $170.3 million compared with $186.4 million a year ago, and other operating expense, net, rose to $21.3 million from $8.0 million, partially offsetting the year-over-year operating gains.

Vulcan's Aggregates Engine Drives ProfitThe Aggregates segment again did the heavy lifting. Segment sales increased 8.6% year over year to $1.45 billion, while segment gross profit climbed to $400.3 million from $357.3 million.

Freight-adjusted sales price improved to $22.80 per ton from $22.03 year over year and cash gross profit per ton rose to $10.93 from $10.63. Management pointed to widespread pricing gains and effective cost control, which lifted segment gross profit margin 90 basis points to 27.6%.

Freight-adjusted revenues advanced to $1.14 billion from $1.05 billion, underscoring that growth was not just a function of pass-through freight. At the same time, freight-adjusted cash cost of sales per ton increased to $11.87 from $11.40, suggesting that execution and pricing had to work together to protect per-ton profitability.

VMC's Asphalt and Concrete Show Margin GainsPerformance in the non-aggregates portfolio improved meaningfully compared with the prior year. Asphalt segment revenues edged up to $215.8 million from $208.7 million, while gross profit more than doubled to $12.2 million, reflecting a sharply improved gross profit margin. Concrete also contributed to incremental profit. Segment revenues increased to $187.5 million from $177 million and gross profit rose to $10.2 million from $3.2 million, aided by margin expansion to 5% in the quarter.

Operationally, asphalt mix shipments increased to 2.3 million tons from 2.2 million tons and the segment’s sales price improved to $83.71 from $81.32. In ready-mixed concrete, shipments rose to 1 million cubic yards from 0.9 million cubic yards and the sales price was $190.45 compared with $189.38.

Vulcan’s Liquidity & Capital Return HighlightsLiquidity stayed solid, with cash and cash equivalents of $140.2 million at quarter's end. The company carried $197 million of short-term debt and $4.36 billion of long-term debt, and total debt to trailing-12-month adjusted EBITDA stood at 1.9x.

VMC exited the quarter with a balance sheet positioned for continued investment and shareholder returns. Net cash provided by operating activities was $241.1 million, and the company invested $176.5 million in property, plant and equipment during the period.

Vulcan returned $217 million through $149.5 million of share repurchases and $67.9 million of dividends, alongside $90 million of maintenance and growth project capital expenditures highlighted by management.

VMC Reaffirms 2026 OutlookManagement reiterated its full-year adjusted EBITDA outlook of $2.4-$2.6 billion and cited a healthy backlog supported by large projects and public construction activity.

VMC’s Zacks Rank & Recent Construction ReleasesVulcan currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Comfort Systems USA, Inc. (FIX - Free Report) delivered a sharp first quarter of 2026, with earnings and revenues topping the Zacks Consensus Estimate and increasing year over year. The quarter reflected strong market conditions, led by heavier technology-sector activity, particularly for data centers.

Comfort Systems also highlighted that recent bookings and underlying persistent demand supported a higher backlog even with increased project burn rates, an important indicator that volume remains strong across key end markets. Backlog as of March 31, 2026, totaled $12.45 billion, increasing 4.3% from $11.94 billion at Dec. 31, 2025, and jumping 80.8% from $6.89 billion reported a year ago.

United Rentals, Inc. (URI - Free Report) reported solid first-quarter 2026 results, with adjusted earnings per share (EPS) and total revenues beating the Zacks Consensus Estimate and growing year over year. Solid execution across its general rentals and specialty businesses helped drive record first-quarter results, while fleet productivity increased 2.3% from the year-ago period.

Management raised full-year fiscal 2026 targets, lifting expectations across several major line items compared with the prior outlook. United Rentals now expects revenues between $16.9 billion and $17.4 billion, with adjusted EBITDA expected between $7.625 billion and $7.875 billion.

Masco Corporation (MAS - Free Report) reported exceptional first-quarter 2026 financial performance with earnings and net sales beating the Zacks Consensus Estimate and growing year over year. Masco’s performance benefited from pricing actions and cost-savings initiatives, which helped offset higher tariff and commodity costs.

Masco continues to expect EPS in the range of $3.91-$4.11 and adjusted EPS in the band of $4.10-$4.30. Management framed the decision as a prudent stance, given ongoing macroeconomic and geopolitical volatility.

Adjusted EBITDA: $447 million, a 9% increase over the prior year.Aggregate Cash Gross Profit Per Ton: $11.38 per ton, with a goal to reach $20 per ton.Aggregat

Vulcan Materials (NYSE:VMC) on Wednesday reported better-than-expected first-quarter financial results.

Vulcan Materials reported quarterly earnings of $1.35 per share which beat the analyst consensus estimate of $1.12 per share. The company reported quarterly sales of $1.756 billion which beat the analyst consensus estimate of $1.617 billion.

Vulcan Materials shares rose 1.4% to trade at $300.20 on Thursday.

These analysts made changes to their price targets on Vulcan Materials following earnings announcement.

Stephens & Co. analyst Trey Grooms maintained Vulcan Materials with an Overweight rating and raised the price target from $330 to $340. Barclays analyst Adam Seiden maintained the stock with an Overweight rating and raised the price target from $296 to $340. Considering buying VMC stock? Here’s what analysts think:

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RAPALA VMC CORPORATION, Company release, May 13, 2026 at 2:15 p.m. EEST

January-March (Q1) in brief

Net sales were 69.5 MEUR, up 6% from previous year (65.3).
With comparable exchange rates sales were 13% up from previous year.Comparable operating profit* was 7.8 MEUR (5.6).Cash flow from operations was -3.8 MEUR (-9.3).Inventories were 82.5 MEUR (84.9).Short-term outlook: The Group expects 2026 full year comparable operating profit* to increase from 2025. President and CEO Cyrille Viellard: “A positive start to 2026 with 13% sales growth at comparable exchange rates, supported by exciting new product introductions and efficient supply chain execution, enabled an encouraging performance despite continued global market uncertainty. I would like to extend a sincere thank you to the entire Rapala VMC team for their dedication to deliver this solid Q1 in turbulent conditions.

Under our flagship Rapala brand, key new products—including CrushCity Mooch Minnow, Claptail, Harvest Shad and Snare—have been very well received by the market. Our Sufix fishing lines division, a leader across braids, nylon monofilaments, and fluorocarbon lines, continued to deliver strong momentum, further supported by the launch of the Sufix Defcon fluorocarbon range.

Growth in Rapala CrushCity soft baits continues to fuel demand for our innovative VMC jigs. The VMC Minnow Shaker, awarded “Best Terminal Tackle” at ICAST last year, has successfully translated into strong commercial performance. Overall, all brands benefited from positive momentum across the portfolio, underlining the strength of our innovation-driven strategy backed by our portfolio of trusted brands.

In the Northern Hemisphere, where the majority of our sales are generated, Q1 is a critical period as retailers prepare for the open water season and replenish inventory. Careful planning and timely ordering resulted in early deliveries and high fill rates, while simultaneously reducing inventory levels.

The positive sales development, combined with continued cost discipline, resulted in improved profitability in line with expectations, with comparable operating profit increasing by 39% year-on-year.

Looking ahead, we remain cautious given geopolitical volatility and inflationary pressures driven by rising oil prices, that is impacting raw materials such as plastics and could affect end consumer demand. Nevertheless, we remain confident in our resilience and our ability to further improve comparable operating profit in 2026.”

Key figures

 Q1Q1ChangeFYMEUR20262025%2025Net sales69.565.3 6%227.5Operating profit7.76.028%4.2% of net sales11.1 %9.1% 1.9%Comparable operating profit *7.85.6 39%8.4% of net sales11.2%8.6% 3.7%Cash flow from operations-3.8-9.359%5.5Gearing %54.4 %46.7% 53.5% * Excluding mark-to-market valuations of operative currency derivatives and other items affecting comparability. Other items affecting comparability include material restructuring costs, impairments, gains and losses on business combinations and disposals, insurance compensations and other non-operational items.

Market Environment

During the first quarter, operating environment improved although the positive development varied geographically. The North American market remained strong, supported by resilient consumer demand. Despite continued geopolitical turbulence, consumer interest in fishing remained healthy, with North American consumers appearing relatively less impacted by international uncertainty in their purchasing behavior. The European and Asian markets remain subdued due to continued trade tensions and high-intensity conflicts in Europe and the Middle East.

Business Review January–March 2026

The Group’s net sales for the year were 6% above the comparison period with reported translation exchange rates. With comparable translation exchange rates, net sales were organically up by 13% from the comparison period.

North America

Sales in North America increased by 8% from the comparison period. With comparable translation exchange rates sales were up by 20%.

Sales in North America were exceptionally strong during the quarter, partly explained by tariff-related price increases. A strong ice fishing season supported replenishment orders, and retailer interest ahead of the summer fishing season remained healthy with a solid order book and clean sales pipeline. New product introductions continued to drive sales, and growth was broad-based across the main brands.

Europe

Sales in the European market increased by 4% from the comparison period. With comparable translation exchange rates sales were up 4%.

Overall demand developed positively during the quarter, although with notable differences across countries. First quarter pre-season deliveries for the summer fishing season topped last year’s level although the region continued to face soft market conditions and retailers focused on preserving cash. Continued focus on strategic brands and key customer relationships together with good delivery reliability supported sales development. Lower OEM hook sales slowed overall sales growth, primarily due to softer customer demand.

Rest of the World

Sales in the rest of the world increased by 3% from the comparison period. With comparable translation exchange rates sales were up 7%.

Sales continued difficult and decreased in Asian markets due to global trade disputes weighing on consumer sentiment and discretionary spending. Growth in the region came solely from Latin American markets where growth was broad-based and further supported by the new Okuma distribution in Chile.

External net sales by area

 Q1Q1ChangeComparableFYMEUR  2026  2025%change %  2025North America40.537.58 %20 %122.8Europe22.721.84 %4 %79.7Rest of the World6.36.13 %7 %25.0Total69.565.36 %13 %227.5 Financial Results and Profitability

Comparable operating profit increased by 2.2 MEUR from 5.6 MEUR to 7.8 MEUR. Reported operating profit increased by 1.7 MEUR from the comparison period and the items affecting comparability had a positive impact of 0.1 MEUR (negative 0.4) on reported operating profit.

Comparable operating profit margin was 11.2% (8.6) for the first quarter. The improved profitability was primarily driven by strong sales growth. Sales margin improved slightly during the period, while continued cost discipline kept operating expenses close to the prior year level.

Reported operating profit includes a -0.1 MEUR (0.5) mark-to-market valuation of operative currency derivatives. Other items affecting comparability, included in the reported operating profit were 0.0 MEUR (0.1).

Financial Position

Cash flow from operations improved from the previous year and landed at -3.8 MEUR (-9.3). Change in net working capital had a negative 12.7 MEUR (negative 15.5 MEUR) impact on cash flow. Working capital was seasonally elevated during the first quarter, primarily driven by increased receivables associated with pre-season sales programs. Excluding working capital impact, cash flow from operations improved from the previous year and was 8.9 MEUR (6.3). Strong focus on cash flow remains a key priority for the Group.

At the end of the period inventory was 82.5 MEUR (84.9). Changes in translation exchange rates decreased inventory value by 2.2 MEUR. Inventories increased due to U.S. tariffs, which were capitalized into inventory values. Excluding the tariff impact, inventories decreased and inventory turn improved from prior year.

Net cash used in investing activities was -0.9 MEUR (-0.9). Capital expenditure was 0.9 MEUR (1.0) and disposals 0.0 MEUR (0.1). Expenditure consisted mainly of maintenance of manufacturing capacity and investments in new products.

Liquidity position of the Group was good. Undrawn committed long-term credit facilities amounted to 19.6 MEUR. Commercial papers sold under the commercial paper program amounted to 19.0 MEUR (29.0) at the end of the reporting period. Gearing ratio increased and equity-to-assets ratio decreased from last year. On Q1/2026 testing date, the financial leverage ratio landed at 3.59. The Group is currently compliant with all financial covenants and expects to comply with future bank requirements as well. The Group’s liquidity position remains good, and cash and cash equivalents amounted to 21.6 MEUR at the end of the reporting period.

Key figures

 Q1Q1ChangeFYMEUR  2026  2025%  2025Cash flow from operations-3.8-9.359%5.5Inventory at the end of the period82.584.9-3%84.4Net cash used in investing activities-0.9-0.9-3%-2.7Net interest-bearing debt at end of period77.772.67%72.9Gearing %54.4%46.7% 53.5%Equity-to-assets ratio at end of period, %47.9%48.4% 49.3%
Short-term Outlook for 2026 (unchanged)

Rapala VMC Oyj expects 2026 full-year operating profit (excluding mark-to-market valuations of operative currency derivatives and other items affecting comparability) to increase from 2025.

Short-term risks and uncertainties and the seasonality of the business are described in more detail in the annual report 2025.

Accounting principles

The financial information included in this business review is unaudited. This business review has not been prepared in accordance with IAS 34 (Interim Financial Reporting). The figures in brackets refer to the corresponding period last year, and the comparison period means the corresponding period in the previous year, unless otherwise stated.

The accounting principles adopted in the preparation of this report are consistent with those used in the preparation of the financial statements 2025.

Historical key figures 2024-2026

 Q1Q2Q3Q4Q1Q2Q3Q4Q1MEUR202420242024202420252025202520252026Net sales58.961.749.251.265.360.154.847.269.5EBITDA4.512.42.51.78.86.24.3-3.510.4Operating profit/loss (EBIT)1.79.4-0.6-2.06.03.11.6-6.57.7Comparable operating profit/loss2.14.1-0.20.25.63.01.5-1.77.8Inventory87.084.783.384.284.982.285.284.482.5Operating cash flow3.115.14.60.5-9.315.5-1.81.1-3.8Net cash used in investing activities-1.37.0-0.2-0.9-0.90.1-0.7-1.3-0.9Net debt at the end of the reporting period80.359.955.961.872.658.662.072.977.7 Helsinki, May 13, 2026

Board of Directors of Rapala VMC Corporation

For further information, please contact:
Cyrille Viellard, President and Chief Executive Officer, +358 9 7562 540
Miikka Tarna, Chief Financial Officer, +358 9 7562 540
Tuomo Leino, Investor Relations, +358 9 7562 540

Financial information will be available at www.rapalavmc.com

About Rapala VMC Corporation
Rapala VMC Group is the world’s leading fishing tackle company with a largest distribution network in the industry.   The Group is a global market leader in fishing lures, treble hooks and fishing related knives and tools. The main manufacturing facilities are in Finland, France, Estonia, and the UK. The Group’s brand portfolio includes leading brands in the industry such as Rapala, VMC, Sufix, 13Fishing as well as Okuma in Europe. The Group, with net sales of EUR 228 million in 2025, employs some 1 400 people in approximately 40 countries. Rapala VMC Corporation’s share is listed and traded on the Nasdaq Helsinki stock exchange since 1998.

RAPALA VMC BUSINESS REVIEW Q1 2026

, /PRNewswire/ -- Vulcan Materials Company (NYSE: VMC), the nation's largest producer of construction aggregates, today announced that it completed the divestiture of its ready-mixed concrete operations in California and acquired the southern Colorado and Dallas-Fort Worth operations of Brannan Sand & Gravel, LLC. The strategic acquisition includes a rail-connected aggregate quarry with long-term reserves in Lamar, Colorado, and a new distribution yard in Dallas-Fort Worth.

Ronnie Pruitt, Chief Executive Officer, said, "These portfolio actions align with our aggregates-led growth strategy by expanding our reach into southern Colorado and strengthening our distribution network in Dallas-Fort Worth to meet growing customer demand with high-quality aggregates."

FORWARD-LOOKING STATEMENT DISCLAIMER

This communication contains "forward-looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995 and other securities laws, regarding Vulcan, including, but not limited to, statements about the benefits of the transaction between Vulcan and Brannan Sand & Gravel, LLC, including Vulcan's plans, objectives, expectations and intentions. You can generally identify forward-looking statements by the use of forward-looking terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "explore," "evaluate," "intend," "may," "might," "plan," "potential," "predict," "project," "seek," "should," or "will," or the negative thereof or other variations thereon or comparable terminology. These forward-looking statements are based on Vulcan's current plans, objectives, estimates, expectations and intentions and inherently involve significant risks and uncertainties, many of which are beyond Vulcan's control. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks and uncertainties associated with: failure to realize the expected benefits of the transaction; significant transaction costs and/or unknown or inestimable liabilities; the risk that Brannan Sand & Gravel, LLC's business will not be integrated successfully or that such integration may be more difficult, time-consuming or costly than expected; risks related to future opportunities and plans for the acquired assets; disruption from the transaction, making it more difficult to conduct business as usual or maintain relationships with customers, employees or suppliers; effects relating to the announcement of the transaction on the market price of Vulcan's common stock; the possibility that, if Vulcan does not achieve the perceived benefits of the transaction as rapidly or to the extent anticipated by financial analysts or investors, the market price of Vulcan's common stock could decline; regulatory initiatives and changes in tax laws; general economic conditions; and other risks and uncertainties, including those described from time to time under the caption "Risk Factors" in reports and filings made by Vulcan with the Securities and Exchange Commission, including Vulcan's Annual Report on Form 10-K for the year ended December 31, 2025, Vulcan's Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 and future filings and reports made by Vulcan. Moreover, other risks and uncertainties of which Vulcan is not currently aware may also affect Vulcan's forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. Vulcan cautions investors that such forward-looking statements are not guarantees of future performance and that undue reliance should not be placed on such forward-looking statements. The forward-looking statements made in this communication are made only as of the date hereof or as of the dates indicated in the forward-looking statements and reflect the views stated therein with respect to future events as at such dates, even if they are subsequently made available by Vulcan on its website or otherwise. Vulcan does not undertake any obligation to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made, except as required by law. 

Investor Contact: Mark Warren (205) 298-3220
Media Contact: Jack Bonnikson (205) 298-3220

SOURCE Vulcan Materials Company