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Vulcan Materials (VMC) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · Vulcan Materials (VMC) Q3 2026 earnings results →

Q3 2026 Revenue down 5% year over year to $2.2B · 17¢ of every $1 of revenue kept as net profit · operating margin 24.0%

Vulcan Materials made $2.2B in Q3 2026 (-5% Y/Y): Aggregates $1.7B, Asphalt $381M, Concrete $92.4M. Operating margin 24.0%, net earnings $363M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.

Revenue$2.2B
Year over year-5%
Operating margin24.0%
Net earnings$363M
Operating cash flow$386M

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Vulcan Materials Q3 2026 revenue breakdown: Sankey diagram of revenue (Aggregates, Asphalt, Concrete), costs, profit and cash flow
Vulcan Materials Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $2.2B in Q3 2026, down 5% year over year and up 1% from the previous quarter. Aggregates was the largest line at 78% of revenue. Concrete lost $0.15B year over year (down 61%), 136% of the total change.

Gross margin was 30.5%, unchanged from Q3 2025. Operating profit was $0.52B, a 24.0% margin (up 0.3 points year over year). Operating expenses fell 8% while revenue fell 5%. Net earnings were $0.36B, down 3% year over year. The effective tax rate was 22.7%.

Operating cash flow was $0.39B (down 43% year over year), 106% of net earnings. Non-cash charges added back $0.18B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.17B. Capital expenditures of $0.18B left free cash flow of $0.21B.

Quarterly history

Vulcan Materials revenue by quarterVulcan Materials revenue by quarter$1.6BQ1 2025$2.1BQ2 2025$2.3BQ3 2025$1.9BQ4 2025$1.8BQ1 2026$2.2BQ2 2026$2.2BQ3 2026
Vulcan Materials net earnings by quarterVulcan Materials net earnings by quarter$129MQ1 2025$321MQ2 2025$375MQ3 2025$253MQ4 2025$166MQ1 2026$324MQ2 2026$363MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 29, 2026$2.2B-5%24.0%$363M$386M
Q2 202610-QJul 29, 2026$2.2B+2%21.1%$324M$344M
Q1 202610-QApr 29, 2026$1.8B+7%15.1%$166M$241M
Q4 202510-KFeb 19, 2026$1.9B+3%19.8%$253M$543M
Q3 202510-QOct 30, 2025$2.3B+14%23.7%$375M$677M
Q2 202510-QJul 31, 2025$2.1B+4%22.4%$321M$342M
Q1 202510-QApr 30, 2025$1.6B+6%13.9%$129M$252M

Charts

Vulcan Materials: revenue growth, year over year and quarter over quarterVulcan Materials: revenue growth, year over year and quarter over quarterY/YQ/Q+6%Q1 2025+4%+29%Q2 2025+14%+9%Q3 2025+3%-17%Q4 2025+7%-8%Q1 2026+2%+23%Q2 2026-5%+1%Q3 2026
Latest (Q3 2026): Y/Y -5%, Q/Q +1%.
Vulcan Materials: where the cash came from (+) and went (−), TTM to Q3 2026Vulcan Materials: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$1.5BBuybacks−$1.2BCapital spending−$733MAsset & business sales$701MAcquisitions−$296MDividends−$267MNet borrowing (+) / repaid (−)$256MTaxes on employees’ shares−$51.9MCash drawn (+) / kept (−)$22.8MOther investing$4.4MPartners−$1.4M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Vulcan Materials: profit against cash, quarter by quarterVulcan Materials: profit against cash, quarter by quarterNet incomeOperating cash flow$294M$440MQ4 2024$129M$252MQ1 2025$321M$342MQ2 2025$375M$677MQ3 2025$253M$543MQ4 2025$166M$241MQ1 2026$324M$344MQ2 2026$363M$386MQ3 2026
Latest (Q3 2026): Net income $363M, Operating cash flow $386M.
Vulcan Materials: diluted shares by fiscal yearVulcan Materials: diluted shares by fiscal year133MFY2020134MFY2021134MFY2022134MFY2023133MFY2024133MFY2025
-0.4% since FY2020: buybacks shrank the count.
Vulcan Materials: long-term debt falling due (FY2025)Vulcan Materials: long-term debt falling due (FY2025)$400K2026$400M2027$500M2029$750M2030
Cash $183M, short-term investments —, long-term debt $4.4B at 2025-12-31.
Vulcan Materials in its industry: growth against margin (14 companies, SIC 1400)Vulcan Materials in its industry: growth against margin (14 companies, SIC 1400)revenue growth, year over year →↑ operating marginmedian +25%median 5%MLMKNFHLCMPSNDUSLMLEUIPILOGCUUUUABATIBATFATLXVMC (-5%, 24%)
Mining & Quarrying of Nonmetallic Minerals (No Fuels); dot size is quarterly revenue; dashed lines are the industry's medians.

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Buys from

About Vulcan Materials

Vulcan Materials Company, a member of the S&P 500 Index with headquarters in Birmingham, Alabama, is the nation’s largest supplier of construction aggregates – primarily crushed stone, sand and gravel – and a major producer of aggregates-based construction materials, including asphalt and ready-mixed concrete. For additional information about Vulcan, go to www.vulcanmaterials.com .

In its own words, from its 8-K, filed Jul 29, 2026.

Vulcan Materials against its Mining & Quarrying of Nonmetallic Minerals (No Fuels) peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -5% against the peers' median +4%. Operating margin: 24.0% against the peers' median 16.8%.

CompanyQuarterRevenueY/YOp. margin
VMC Vulcan MaterialsQ3 2026$2.2B-5%24.0%
MLM Martin Marietta MaterialsQ3 2026$2.4B+28%18.5%
KNF Knife RiverQ3 2026$1.3B+6%16.8%
HL Hecla MiningQ3 2026$395M+25%39.8%
CMP Compass Minerals InternationalQ3 FY26$215M+0.3%5.1%
SND Smart SandQ2 2026$115M+34%8.7%
USLM United States Lime & MineralsQ3 2026$106M+4%42.1%
LEU Centrus EnergyQ3 2026$55.5M-26%-53.5%
IPI Intrepid PotashQ3 2026$51.0M+0.4%0.4%

Source: Vulcan Materials 10-Q on SEC EDGAR · CIK 1396009 · Mining & Quarrying of Nonmetallic Minerals (No Fuels)

Guidance and outlook

Vulcan Materials: what its forward-looking statements are about (10-Q filed 2026-07-29)Vulcan Materials: what its forward-looking statements are about (10-Q filed 2026-07-29)Other4Demand2The economy1Buybacks & dividends1
8 statements; tone +0.50 (−1 all cautious, +1 all confident); 1 hedged.
Vulcan Materials: outlook statements against the filing beforeVulcan Materials: outlook statements against the filing beforeConfident4

13F: who owns VMC and who is buying

Largest holders of VMC (13F)Largest holders of VMC (13F)Vanguard Group$4.9BBlackRock$2.9BState Farm Mutual Automobile Insu…$2.8BVanguard Capital Management LLC$2.5BVanguard Portfolio Management LLC$2.1BState Street$1.8BPrincipal Financial Group$1.6BFMR LLC$1.1BGeode Capital Management, LLC$1.0BTCI Fund Management$722M
Funds' net buying of VMC by quarter (13F)Funds' net buying of VMC by quarter (13F)$619M2024-09$108M2024-12−$28.1M2025-03$78.0M2025-06$223M2025-09$307M2025-12$252M2026-03$1.2B2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on VMC

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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