Vulcan Q3 2026: margins hold, EPS misses, $2.4B EBITDA guided
Vulcan's third quarter was smaller, not weaker. Revenue fell 4.7% to $2.18 billion on 3% fewer aggregates tons, yet gross margin edged up to 30.5% and adjusted EBITDA margin to 32.3%; adjusted EPS of $2.83 missed the $2.92 consensus. Read the scorecard first, then the guidance section — the implied fourth-quarter step-up is the real story here.
1 · Expected vs. Actual
Free preview belowGAAP EPS was $2.80 and adjusted EPS $2.83 against a $2.92 consensus, a $0.09 miss or 3.2%. This is not a cost blowout — SG&A fell to $137.0 million from $145.3 million and held at 6.3% of revenue. The shortfall is volume and mix, with concrete gross profit down to $8.0 million from $14.1 million after divestitures.
Revenue of $2.18 billion fell 4.7% from $2.29 billion, driven mostly by 3% fewer aggregates tons (62.7 million versus 64.7 million). Management points to an unusually favorable weather comparison in last year's quarter. Price did the heavy lifting: freight-adjusted aggregates price rose 4.0% to $22.84 per ton, or 5% on a mix-adjusted basis.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-03
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