Vulcan Materials (VMC) 10-K Summary — Year Ended Dec 31, 2023
Vulcan Materials Company is the largest U.S. supplier of construction aggregates and a major producer of asphalt and ready-mixed concrete. The filing reports annual revenue, operating income, net income, and operating cash flow, with revenue showing growth over the prior year.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
Vulcan Materials Company is the largest U.S. supplier of construction aggregates and a major producer of asphalt and ready-mixed concrete. The filing reports annual revenue, operating income, net income, and operating cash flow, with revenue showing growth over the prior year.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$7.8B
Revenue reported for the fiscal year.
Operating income
$1.4B
Income from operations reported for the year.
Net income
$933.2M
Net income reported for the year.
Operating cash flow
$1.5B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $5.6B | n/a |
| Dec 31, 2022 | $7.3B | +31.8% |
| Dec 31, 2023 | $7.8B | +6.4% |
Business overview
Vulcan Materials Company operates primarily in the U.S. as the nation's largest supplier of construction aggregates, including crushed stone, sand, and gravel. It also produces aggregates-intensive downstream products such as asphalt mix and ready-mixed concrete, serving infrastructure, residential, and commercial construction. As of the end of the reporting period, the company had 397 active aggregates facilities, 66 asphalt facilities, and 63 concrete facilities, with production and sales halted at its Calica operations in Mexico.
Financial performance
Revenue increased compared to the prior year, while operating income, net income, and operating cash flow were also reported. The trend data shows revenue growth from the previous two annual periods.
Material risks
The filing includes a section on risk factors, but the supplied text does not provide specific risk details. The company notes that production and sales at its Calica operations in Mexico are halted, which is referenced in commitments and contingencies.
Liquidity and capital
The filing references a discussion of liquidity and capital resources for the current and prior year, but the supplied text does not include specific details on capital allocation or liquidity themes.
What to watch
Monitor the status of the Calica operations in Mexico, as production and sales remain halted and are subject to commitments and contingencies.