Filing Flows › Vulcan Infrastructure & Power (VIP) › Q4 2025
Vulcan Infrastructure & Power (VIP) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 31, 2026
Vulcan Infrastructure & Power (VIP) reported revenue of $11.5M for the fourth quarter 2025 (Q4 2025), -23% from a year earlier and -25% from the quarter before. Operating margin was 14.7%, net earnings $3.0M (26.3% of revenue).
Vulcan Infrastructure & Power, Q4 2025: revenue $11.5M (-23% year over year), operating margin 14.7%, net earnings $3.0M, operating cash flow −$4.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $11.5M | -25% | -23% |
| Operating profit | $1.7M | +454% | — |
| Net earnings | $3.0M | -75% | — |
| Operating cash flow | −$4.6M | -3926% | — |
What changed
Revenue was $11.5M in Q4 2025, down 23% year over year and down 25% from the previous quarter. Power and capacity was the largest line at 48% of revenue.
Operating profit was $1.7M, a 14.7% margin (up 23.6 points year over year). Total costs fell 39% while revenue fell 23%. Net earnings were $3.0M. The effective tax rate was -16.9%. Non-operating items added $890K, 35% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$4.6M. Non-cash charges added back $2.5M of depreciation and amortization and $151K of share-based compensation. Working capital and other items used $10.2M.
Questions
What was Vulcan Infrastructure & Power's revenue in the fourth quarter 2025?
Vulcan Infrastructure & Power (VIP) reported revenue of $11.5M for the fourth quarter 2025 (Q4 2025), -23% from a year earlier and -25% from the quarter before.
Was Vulcan Infrastructure & Power profitable in the fourth quarter 2025?
Operating profit was $1.7M (14.7% of revenue) and net earnings $3.0M.