Vulcan Materials CO (NYSE: VMC)

Vulcan Materials Company operates primarily in the U. S. and is the nation's largest supplier of construction aggregates and a major producer of aggregates-intensive downstream products such as asphalt mix and ready-mixed concrete. Delivered by trucks, ships, barges and trains, the company provides materials needed for infrastructure that maintains and expands the U. S. economy. Its products are essential for building homes, offices, data centers, places of worship, schools, hospitals and factories, as well as vital infrastructure including highways, bridges, roads, ports and harbors, water systems, campuses, dams, airports and rail networks.

Vulcan Materials Company generates revenue through the sale of construction aggregates, asphalt mix and ready-mixed concrete. The company serves customers in the public and private sectors across the United States, with a focus on metropolitan areas experiencing rapid population growth. Revenue is derived from delivering materials for construction projects ranging from residential and nonresidential buildings to transportation and utility infrastructure.

Vulcan Materials Company operates through the following segments: Aggregates, Asphalt and Concrete.

• The Aggregates segment involves the production and sale of construction aggregates including crushed stone, sand and gravel. These materials are used as base material for highways, walkways, airport runways, parking lots and railroads, to aid in water filtration and erosion control, and as a raw material in combination with other resources to construct houses, apartments, roads, bridges, parking lots, schools, hospitals, commercial buildings, retail space, data centers, sewer systems, airports, runways and power plants. The segment operated 425 active facilities during 2025.

• The Asphalt segment produces and sells asphalt mix in Alabama, Arizona, California, New Mexico, Tennessee and Texas, and provides asphalt construction paving services in Alabama and Tennessee. Aggregates comprise approximately 95% of asphalt mix by weight and are primarily supplied from the Aggregates segment. The segment operated 71 facilities during 2025.

• The Concrete segment produces and sells ready-mixed concrete in California, Maryland, Virginia, the U. S. Virgin Islands and Washington D. C. Aggregates comprise approximately 80% of ready-mixed concrete by weight and are primarily supplied from the Aggregates segment. The segment operated 76 facilities during 2025.

Vulcan Materials Company holds a leading position in the U. S. aggregates industry as the nation's largest supplier of construction aggregates. Despite the highly fragmented nature of the industry with approximately 5,000 companies operating around 11,000 facilities, the company maintains a strategic advantage through its coast-to-coast footprint of permitted reserves located in high-growth metropolitan areas. Its competitive advantages include extensive distribution networks utilizing trucking, rail, barge and ocean vessel logistics, flexible production capabilities, control over raw material inputs through owned reserves, and a focus on operational excellence, safety and environmental stewardship.

Vulcan Materials Company serves a diverse customer base across the public and private sectors, including contractors, developers, government agencies and infrastructure project owners. The company's five largest customers accounted for approximately 7% of total revenues in 2025, with no single customer exceeding 2% of total revenues. Sales are made to entities involved in highway, bridge, building, airport, school, prison, sewer, waste disposal, water supply, dam, reservoir and other public construction projects, as well as private nonresidential and residential building construction.