Vulcan Materials posts record 2025 adjusted EBITDA of $2.324B

Vulcan Materials Company (NYSE:VMC) reported full-year 2025 adjusted EBITDA of $2.324 billion, an increase of 13% from the prior year, marking a record high for the company.

Net earnings attributable to Vulcan rose to $1.077 billion, or $8.14 per diluted share, from $912 million, or $6.89 per share, in 2024.

Operating cash flow surged 29% to $1.8 billion, underscoring strong cash generation capabilities supported by higher earnings and effective working capital management.

Vulcan returned $698 million to shareholders through dividends and share repurchases during the year, highlighting its commitment to capital returns while investing in strategic growth opportunities.

The company maintained a solid balance sheet, ending 2025 with a total debt to adjusted EBITDA ratio of 1.9 times, providing substantial financial flexibility amid a constructive outlook for U.S. construction activity.

Looking to 2026, Vulcan expects adjusted EBITDA in the range of $2.4 billion to $2.6 billion, implying continued growth at the midpoint.