Vulcan Materials CO

Company facts

Industry

Mining & Quarrying of Nonmetallic Minerals (No Fuels)

Headquarters

Birmingham, Alabama

Most recent report

10-Q, filed Jul 29, 2026

Incorporated

New Jersey

Filings on record

1,007+ filings

On EDGAR

CIK 1396009

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 2 of 12 sections worth reading, with 8 positive, 12 notable, and 6 negative flags.

• Financial Statements (Item 1)

  Core financial results and material events: $722M divestiture, $400M buyback, $370M capex, NAFTA ruling, and tax dispute.
  Notable

  • NAFTA tribunal ruled Mexico violated NAFTA but awarded negligible damages. Ancillary claim dismissed.
  Negative

  • Potential $35M cash outflow and tax expense if Mexico tax dispute on Calica's cost of goods sold deduction is lost.
  • LADWP demand for Hewitt Landfill cost contribution; material loss may be recognized near term.

• Management's Discussion (Item 2)

  Dense with segment results, cash flows, debt metrics, and known risks (Mexico, tariffs, Middle East).
  Positive

  • Aggregates sales up 7% to $1.76B, driven by price and volume.
  • Core aggregates revenue up 5% to $1.38B after stripping freight.
  • Freight-adjusted price up 3.9% to $22.97/ton, showing pricing power.
  • SAG down $3.2M and 30 bps to 6.6% of revenue, showing cost control.
  • Adjusted EPS from continuing ops $2.59 vs $2.45, up 5.7%.
  • Dividends raised 4% to $0.52 per share, returning $67.5M to shareholders.
  • Repurchased $250.3M in stock at $276.69 avg price, vs zero in Q2 2025.
  • Moody's raised outlook to Positive from Stable, reflecting improved credit profile.
  Notable

  • Revenue up 3% to $2,155.8M, slower than Q1's 7% growth.
  • Gross profit essentially flat at $625.5M as cost increases offset revenue.
  • Aggregates volume growth slowed to 1% (0.6M tons) vs 5% in Q1.
  • Aggregates gross profit rose only 1% to $567.3M as costs climbed.
  • Gross profit per ton barely moved to $9.47, as cost per ton rose faster.
  • Diluted EPS from continuing ops up slightly to $2.47 from $2.43.
  • Net earnings $323.4M, up 1% from $320.9M.
  • Full-year 2026 Adjusted EBITDA outlook unchanged at $2.4-$2.6B.
  • Cash from operations $584.6M in H1 2026, down $8.6M from H1 2025 on higher tax payments.
  • Sold California concrete and US Virgin Islands ops for combined $722.1M (cash and note).
  • Available borrowing capacity $1.58B, no commercial paper outstanding, 100% fixed-rate debt.
  Negative

  • Asphalt and concrete combined gross profit down $7.5M to $58.2M.
  • Operating earnings fell 3% to $455.5M, pressured by asset sale loss and downstream weakness.
  • Adjusted EBITDA down 1% to $654.0M, as cost increases and asset sale losses weighed.
  • Mexico government banned quarrying at Calica, declared property a natural protected area; Vulcan contests.

What changed: Jun 2026 vs. Mar 2026

About 10% of VMC's Jun 2026 10-Q is new information. 43 paragraphs were added, 153 changed, and 29 removed. Below are the most important lines SECSift identified.

• Item 2 93
• Item 1 45
• Item 6 4
• Item 4 3
• Item 3 1
• Item 5 1