| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | July 29, 2026 | 4/12 | 2 high, 2 medium, 2 low flags | 2 | 1 | Call sheet → |
| Q1'26 | April 29, 2026 | 10/12 | 3 medium, 3 low flags | 4 | 0 | Call sheet → |
| Q4'25 | February 17, 2026 | 10/12 | 1 medium, 5 low flags | 5 | 1 | Call sheet → |
| Q3'25 | October 30, 2025 | 11/12 | 5 low flags | 5 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Pending | Achieve cash gross profit per ton of $20. No per‑ton figure disclosed; prior quarter $11.38/ton - far from target. |
| Q2'26 | Pending | Maintain adjusted EBITDA guidance range $2.4‑$2.6 bn. Current half‑year EBITDA $1.101 bn, on track but no cushion for downside. |
| Q2'26 | Missed | Close California concrete divestiture in Q2. Divestiture still pending; no close announced during call. |
| Q2'26 | Delivered | Return on invested capital to improve. ROIC rose to 16.1 % (up 20 bps). |
| Q2'26 | Delivered | Mid‑year price increases will be implemented. Management confirmed mid‑year increases were pulled forward to June. |
| Q2'26 | Pending | Strong public activity will continue to drive shipments growth in 2026. Q2 shipments were “lower than expected volumes in many areas due to wet weather”; no hard shipment number released. |
| Q1'26 | Delivered | Continued expansion of aggregates cash gross profit per ton Still targeting $20 per ton long-term, sequential improvement shown |
| Q1'26 | Pending | $2.4B-$2.6B adjusted EBITDA for 2026 Reaffirmed guidance despite cost headwinds |
| Q1'26 | Pending | California ready-mix divestiture closing in 2026 Expected to close in Q2, still on track |
| Q1'26 | Pending | Low single-digit cash cost increases for full year Q1 at +4%, Q2 expected high single-digit due to diesel - at risk |
| Q1'26 | Delivered | Aggregates pricing 4-6% growth with lower end early, higher end later Q1 at +4%, exactly at low end as predicted |
| Q1'26 | Delivered | Return to modest aggregate shipments growth in 2026 Q1 shipments +5% YoY, tracking ahead of 1-3% full year guidance |
| Q1'26 | Delivered | Aggregate cash gross profit per ton to reach $11-$12 range (from Q4 call) Hit $11.33 for full year 2025, now at $11.38 trailing 12 months |
| Q4'25 | Exceeded | Maintain cost discipline through VWO efforts Unit costs up less than 2% vs low single-digit guidance |
| Q4'25 | Delivered | Mid-single-digit pricing improvement for 2026 Guided to 4-6% freight-adjusted pricing |
| Q4'25 | Delivered | Continue expanding EBITDA margin Expanded 160 bps to 29.3%, accelerating from prior year |
| Q4'25 | Exceeded | Aggregate cash gross profit per ton growth to exceed historical averages Hit $11-12 target range with $11.33, up 7% |
| Q4'25 | Missed | Adjusted EBITDA of $2.35-2.45B for 2025 Delivered $2.30B, below midpoint but within range |
| Q4'25 | Delivered | Full year shipments to increase approximately 3% Achieved exactly 3% with 227M tons vs guidance |
| Q3'25 | Exceeded | Vulcan Way of Operating cost benefits Unit costs down 2% despite volume surge - better than expected |
| Q3'25 | Pending | Wake Stone pricing integration Still working to close pricing gap, contributing to mix headwinds |
| Q3'25 | Delivered | Capital allocation priorities unchanged Maintained dividend, $300M returned to shareholders, acquisitions funded |
| Q3'25 | Delivered | Continued unit margin expansion Cash gross profit per ton up 9% despite volume/mix challenges |
| Q3'25 | Delivered | 3% to 5% full year shipment growth Now expecting 3% at low end of range, driven by weather recovery |
| Q3'25 | Delivered | Full year adjusted EBITDA of $2.35B to $2.55B Tightened to $2.35B-$2.45B but within original range |
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