Page 1

Vulcan Materials Company NEWS RELEASE Vulcan Reports First Quarter 2021 Results 5/4/2021 Aggregates Business Drives Earnings Growth and Margin Expansion Strong Execution Supports Improvement in Full Year Outlook BIRMINGHAM , Ala . , May 4 , 2021 / PRNewswire / -- Vulcan Materials Company ( NYSE : VMC ) , the nation's largest producer of construction aggregates , today announced results for the quarter ended March 31 , 2021 . Financial and Operating Highlights : • Net earnings were $ 161 million , or $ 1.20 per diluted share • Sale of reclaimed quarry produced net proceeds of $ 182 million and pretax gain of $ 115 million ( $ 85 million after tax , or $ 0.64 per diluted share ) • First quarter Adjusted EBITDA was $ 244 million ( excluding gain on land sale ) , a year - over - year increase of 22 percent • Aggregates unit profitability increased 12 percent year - over - year to $ 4.82 per ton • A disciplined approach to leveraging our capital base contributed to an improvement in return on invested capital of 90 basis points to 14.8 percent • Full - year 2021 Adjusted EBITDA guidance raised to between $ 1.380 to $ 1.460 billion ( excluding gain on sale of land ) Tom Hill , Chairman and Chief Executive Officer , said , " Our first quarter results are a testament to the resiliency of our best - in - class aggregates business . While severe winter weather conditions in February resulted in an uneven start to the year , strong execution from our teams allowed us to drive earnings growth and margin expansion . As the construction season got underway during March , many of our key markets began to see shipments rebound . Our four strategic disciplines helped us grow our aggregates cash gross profit by 9 percent to $ 6.56 per ton . " Mr. Hill stated , " We continue to see strength in residential construction activity , driven by single - family housing . Recent growth in highway awards and construction employment trends in our markets also bode well for further recovery in construction activity later in 2021. Shipments into private nonresidential continue to benefit from heavy industrial projects , such as data centers and warehouses , while leading nonresidential indicators suggest growth 1