Vulcan Materials Company (VMC) Q2 2026 earnings summary

Executive summary

• Achieved Q2 2026 adjusted EBITDA of $654 million, matching or slightly exceeding prior year despite $40 million in energy headwinds, with aggregates volume and pricing growth offsetting inflation.

• Aggregates segment led performance, with cash gross profit per ton exceeding $12 and shipments up 1% year-over-year; pricing rose 5% on a mix-adjusted basis.

• Strategic portfolio actions included divesting non-core assets (California, U.S. Virgin Islands) and acquiring Brannan Sand & Gravel and other operations in Colorado and Texas.

• Demand outlook remains strong, driven by public infrastructure, large private projects (data centers, LNG), and supportive construction environment.

• Maintained focus on cost management and operational efficiencies, leveraging overhead structure and commercial discipline.

Financial highlights

• Q2 2026 total revenues reached $2,155.8 million, up 3% year-over-year; gross profit was $625.5 million, nearly flat year-over-year.

• Adjusted EBITDA for Q2 2026 was $654 million, with a margin of 30.3%; diluted EPS from continuing operations was $2.47.

• Aggregates cash gross profit per ton was $12.02 in Q2 2026, up $0.14 year-over-year.

• SAG expenses for the quarter were 6.6% of revenues, down 30 basis points year-over-year.

• Return on invested capital improved to 16.1%, up 20 basis points year-over-year.

Outlook and guidance

• Reaffirmed full-year adjusted EBITDA guidance of $2.4–$2.6 billion.

• Expect continued aggregates price and modest volume growth, supported by public construction and large projects.

• Capital expenditures for the year expected between $750 million and $800 million.

• Anticipate gross margin expansion in the second half, especially Q4.

• Solid cost management and improved plant efficiencies anticipated to drive further Adjusted EBITDA growth.