Vulcan Materials reports 5.6% increase in Q1 2025 total revenues

Vulcan Materials Company, a US-based supplier of construction aggregates, has reported total revenues of $1.63bn in the first quarter (Q1) ended 31 March 2025, an increase of 5.6% compared to Q1 2024.

Net earnings attributable to the company were $129m in Q1 2025, compared to $103m in Q1 2024.

The company’s gross profit was reported to be $365m in the first quarter of 2025, as against $305m in Q1 2024.

Vulcan Materials chair and CEO Tom Hill said: "The combination of our aggregates-led business and our consistent focus on our Vulcan Way of Selling and Vulcan Way of Operating disciplines resulted in strong earnings growth and margin expansion in the first quarter.

“Adjusted EBITDA [earnings before interest, taxes, depreciation, and amortisation] increased 27%, and adjusted EBITDA margin expanded 420 basis points over the prior year. Aggregates cash gross profit per ton improved 20% with widespread improvements across our footprint. Our commercial and operational execution support our full-year outlook to deliver another year of earnings growth in 2025."

The company’s aggregates segment saw an 18% increase in gross profit to $357m, equivalent to $7.48 per ton, with a gross profit margin expansion of 320 basis points to 26.7%.

Cash gross profit per ton increased 20% to $10.63 per ton, owing to geographically widespread pricing growth and ongoing improvement in operational efficiencies.

The asphalt and concrete segments also reported positive results. The asphalt segment's gross profit was $5m, with a 24% improvement in cash gross profit of $17m over the same quarter of the previous year.

The concrete segment's gross profit stood at $3m, with cash gross profit at $19m.

Selling, administrative, and general expenses were reported at $138m in Q1 2025 as against $130m in Q1 2024.

Vulcan Materials’ capital allocation included $105m spent on maintenance and growth projects in the first quarter, and the company anticipates full-year expenditure of $750m to $800m.

The company also returned $104m to shareholders via $66m of dividends and $38m of stock repurchases and redeemed its 2025 notes using $400m of cash on hand.

Commenting on the outlook, Hill said: "Our execution in the first quarter was strong, and we reiterate our full-year outlook to deliver $2.35 to $2.55bn of adjusted EBITDA. We continue to monitor the impact on overall economic activity from the uncertainty surrounding trade policy and the trajectory of interest rates.

"As always, we are focused on the things we can control. Our continued execution of our strategic disciplines has and will continue to lead to attractive cash generation and value creation for our shareholders regardless of external headwinds."