The revenue miss and guidance narrowing to the low end of the prior range suggest headwinds from energy inflation and weather are persisting. Monitor Q4 commentary on pricing actions and cost mitigation, as well as any updates on the 2027 earnings growth target.
Price Chart
Executive Summary
Aggregates shipments declined 3% YoY due to weather comparables, and total revenue fell 4.7% YoY, but pricing discipline and cost controls supported aggregates cash gross profit per ton growth to $11.95. The company narrowed its full-year Adjusted EBITDA guidance to approximately $2.4 billion, the low end of the prior $2.4-$2.6 billion range, and targets earnings growth again in 2027.
Key Financial Metrics
Key Facts
- Total revenues were $2.185B, down 4.7% YoY from $2.292B and below the $2.23B consensus.
- Aggregates shipments fell 3% YoY to 62.7 million tons, with the prior year benefiting from favorable weather.
- Freight-adjusted aggregates sales price rose 4% to $22.84 per ton, while cash cost of sales per ton increased 7% to $10.89, driven by energy inflation.
- Full-year 2026 Adjusted EBITDA guidance narrowed to approximately $2.4 billion, the low end of the prior $2.4-$2.6 billion range.
- The company returned $417 million to shareholders in Q3 via $350 million in share repurchases and $67 million in dividends.
- Total debt to trailing-twelve-month Adjusted EBITDA stood at 2.0x, within the target range of 2.0-2.5x.
- Two bolt-on acquisitions were completed in Tennessee and southern Ohio during the quarter.
Financial Impact
Revenue miss of ~$45M vs consensus; guidance narrowed to the low end of the prior range, implying a reduction of up to $200M from the top end.
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Aggregates | $1.8B | +1.7% |
| Asphalt | $381.2M | -8.4% |
| Concrete | $92.4M | -61.1% |
Risk Factors
- Continued energy cost inflation pressuring margins.
- Weather-related disruptions to construction activity and shipments.
- Potential for further guidance reduction if demand softens or costs remain elevated.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001140361-26-041095 |
| Document: ef20084525_8k.htm | 0001140361-26-041095 |
| Document: 0001140361-26-041095-index-headers.html | 0001140361-26-041095 |
| Document: 0001140361-26-041095-index.html | 0001140361-26-041095 |
| Document: 0001140361-26-041095.txt | 0001140361-26-041095 |
| 8-K Data (Synthetic) | 0001140361-26-041095 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 30, 2026 2d ago | 8-K | $283.31 | awaiting T+1 | awaiting T+1 | $281.25 (−0.73%) |
Oct 29, 2026 3d ago | 8-K | No price | awaiting T+1 | awaiting T+1 | No price |
Oct 29, 2026 3d ago | Press Release | $280.31 $281.25 | ▼ −0.34% | ▼ −2.11% | $281.25 (−0.34%) |
Oct 22, 2026 10d ago | 8-K | $261.69 $261.48 | ▼ −0.08% | ▼ −0.79% | $281.25 (+7.47%) |
Jul 31, 2026 13w ago | 144 | $268.57 $283.55 | ▲ +5.58% | ▲ +4.17% | $281.25 (+4.72%) |
Jul 29, 2026 13w ago | 8-K | $283.92 $271.24 | ▼ −4.47% | ▼ −6.14% | $281.25 (−0.94%) |
Jul 15, 2026 15w ago | Press Release | $289.11 | awaiting T+1 | awaiting T+1 | $281.25 (−2.72%) |
Jul 10, 2026 16w ago | Press Release | $292.78 $291.89 | ▼ −0.30% | ▼ −0.66% | $281.25 (−3.94%) |
Mar 24, 2026 31w ago | DEFA14A | $269.47 $266.41 | ▼ −1.14% | ▲ +0.63% | $281.25 (+4.37%) |
US Market Status
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