Vulcan Materials posted a strong first quarter in 2025, with revenue reaching $1.63 billion, up from $1.55 billion a year earlier, supported by pricing gains and cost discipline.

Net earnings attributable to Vulcan increased to $129 million from $103 million. Adjusted EBITDA rose 27 percent year-over-year to $411 million, with the margin improving to 25.1 percent from 20.9 percent.

In the Aggregates segment, gross profit increased 18 percent to $357 million, despite a 1 percent drop in shipments. The company achieved a 7 percent increase in freight-adjusted sales price per ton and a 3 percent reduction in freight-adjusted unit cost, resulting in a 20 percent rise in cash gross profit per ton to $10.63.

The Asphalt and Concrete segments also improved. Asphalt unit cash gross profit rose 19 percent, while the Concrete segment saw a 77 percent increase in unit cash gross profit, aided by a 15 percent increase in shipments.

Diluted earnings per share from continuing operations came in at $0.98, compared to $0.78 last year. Adjusted diluted earnings per share were $1.00.

Vulcan generated $252 million in operating cash flow and spent $168 million on capital expenditures. It returned $104 million to shareholders and reduced debt by $400 million, bringing its net debt to adjusted EBITDA ratio to 2.2 times. Return on invested capital stood at 16.2 percent.

The company reaffirmed its full-year 2025 guidance for adjusted EBITDA in the range of $2.35 to $2.55 billion, citing strong execution and favorable pricing trends.