Vulcan Materials Company (NYSE:VMC) reported fourth-quarter results on Tuesday that came in well below Wall Street expectations, sending shares sharply lower in early trading.
The stock dropped 7.07% in pre-market activity following the release.
Adjusted earnings per share for the quarter totaled $1.70, significantly under the analyst consensus of $2.13.
Revenue reached $1.91 billion, missing the $1.95 billion forecast.
Gross profit declined 9% year over year to $487 million, compared with $537 million in the same quarter last year, adding to investor disappointment.
Despite the weaker quarter, Vulcan delivered solid full-year growth. Net earnings attributable to the company rose 18% to $1.08 billion in 2025, while annual revenue increased 7% to $7.94 billion from $7.42 billion in 2024.
“Our aggregates-led business delivered another year of strong earnings growth and margin expansion,” said Ronnie Pruitt, Vulcan Materials’ Chief Executive Officer. “Adjusted EBITDA for the full year improved 13 percent over the prior year, and margin expanded 160 basis points.”
In the fourth quarter, aggregates shipments climbed 2% compared with a year earlier, supported by steady public infrastructure demand.
Freight-adjusted selling prices improved 5% on a mix-adjusted basis, though reported price growth was limited to 2% due to less favorable geographic and product mix.
Looking ahead to 2026, Vulcan expects ongoing strength in public construction markets and a pickup in private nonresidential activity.
The company projected adjusted EBITDA between $2.4 billion and $2.6 billion for the year, with aggregates shipments expected to rise 1% to 3%.
Vulcan also announced it has completed the sale of its asphalt and construction services operations in the Houston market and has agreed to divest its ready-mixed concrete businesses in California. The California transaction is anticipated to close in the second quarter of 2026.