Goldman Sachs expects Nvidia ’beat and raise,’ lifts price target to $240
NEW YORK - Vulcan Materials Company (NYSE:VMC) reported third-quarter earnings that exceeded analyst expectations on Thursday.
The company’s shares fell 1.68% in pre-market trading after the results.
The nation’s largest producer of construction aggregates posted adjusted earnings per share of $2.84 for the third quarter, surpassing the analyst consensus of $2.72. Revenue came in at $2.29 billion, slightly above the $2.27 billion estimate and up from the same quarter last year.
The company narrowed its full-year 2025 adjusted EBITDA guidance to between $2.35 billion and $2.45 billion, representing 17% YoY growth at the midpoint. Vulcan expects aggregates shipments to increase approximately 3% for the full year, consistent with year-to-date performance.
"We continue to execute well and remain focused on delivering another year of margin expansion and attractive growth in aggregates unit profitability," said CEO Tom Hill, who will be succeeded by Ronnie Pruitt effective January 1, 2026.
Looking ahead to 2026, the company expressed optimism about demand conditions, citing continued strength in public construction and improving private nonresidential outlook. Management expects this combination to support a "healthy pricing environment" with anticipated mid-single digit growth in pricing.
"Vulcan is well positioned with an irreplaceable asset base and outstanding talent," said incoming CEO Ronnie Pruitt. "Our strategic disciplines on both the commercial and operational sides of our business continue to gain traction and sustain improvements."
The company’s second-quarter results had shown strong commercial and operational execution, with adjusted EBITDA of $660 million, up 9% YoY, and an adjusted EBITDA margin of 31.4%, representing a 150 basis point improvement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.