Vulcan Materials: Is The Infrastructure Spending and Public-Sector Demand Stability Here To Stay?

Vulcan Materials Company recently concluded its third quarter of 2025, showing significant progress in its operational and financial performance. The company demonstrated strong execution across various segments, resulting in an expansion of gross margin and unit profitability. Notably, adjusted EBITDA reached $735 million, marking an impressive 27% improvement compared to the previous year. Further strengthening its revenue streams, aggregate shipments saw a 12% increase during the quarter, contributing to a 3% growth on a year-to-date basis. Despite facing headwinds from prior acquisitions and a shift in the product mix, Vulcan Materials maintained its pricing power. Mix-adjusted pricing improved by 5% in the quarter and 7% throughout the year. Additionally, operational efficiencies were evident as the aggregates freight-adjusted unit cash cost of sales was reduced by 2% from the previous year.