Vulcan Materials Company announced strong fourth-quarter and full-year 2024 results on February 18, 2025, with Q4 total revenues increasing 1.1% to $1,854 million compared to the prior year. Net earnings attributable to Vulcan for the quarter rose 29.2% to $294 million, or $2.23 per diluted share, while Adjusted EBITDA improved 15.5% to $550 million, with the Adjusted EBITDA margin expanding by 370 basis points to 29.7%.
The aggregates segment was a primary driver of this performance, with cash gross profit per ton increasing 16% to $11.50 per ton, marking the eleventh consecutive quarter of year-over-year growth. This was achieved despite a 3% decrease in aggregates shipments, as freight-adjusted selling prices increased a robust 11% to $21.41 per ton, reflecting strong pricing power and operational discipline.
For the full year 2024, Adjusted EBITDA reached $2,057 million, a 2.3% increase, and the Adjusted EBITDA margin expanded to 27.7%. The company completed acquisitions of Wake Stone Corporation and Superior Ready Mix Concrete, L.P., along with bolt-on acquisitions in Alabama and Texas, expanding its footprint in attractive states. Management provided an optimistic outlook for 2025, projecting 19% growth in Adjusted EBITDA, supported by continued public construction activity, recent acquisitions, and further expansion in aggregates unit profitability.
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