RALEIGH, N.C., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Martin Marietta Materials, Inc. (NYSE:MLM) (“Martin Marietta” or the “Company”) announced today the pricing of its offering of $750 million aggregate principal amount of 5.150% Senior Notes due 2034 (the “2034 Notes”) and $750 million aggregate principal amount of 5.500% Senior Notes due 2054 (the “2054 Notes” and, together with the 2034 Notes, the “Notes”). The 2034 Notes will mature on December 1, 2034, will have an interest rate of 5.150% per annum and wil ...

October 30th was a really good day for shareholders of aggregates and building materials company Martin Marietta Materials (NYSE: MLM ). Shares of the business, as of midday on October 30th, were up 4.3%. This move higher came afterCrude Value Insights offers you an investing service and community focused on oil and natural gas. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential.Subscribers get to use a 50+ stock model account, in-depth cash f ...

Financial Data and Key Metrics - The company revised its full year 2024 adjusted EBITDA guidance to $2.07 billion at the midpoint due to weather-related project delays and inefficiencies [8] - Building Materials business generated revenues of $1.8 billion, a 6% decrease, and gross profit of $588 million, a 9% decrease in Q3 2024 [16] - Cement and concrete revenues decreased 30% to $296 million, and gross profit decreased 37% to $89 million in Q3 2024 [17] - Asphalt and paving revenues decreased 5% to $343 million, and gross profit decreased 8% to $61 million in Q3 2024 [18] - Magnesia Specialties posted record Q3 revenues and gross profit of $82 million and $29 million, respectively [19] - Record Q3 cash flows from operations of $601 million, a 32% increase compared to the prior year quarter [20] Business Line Data and Key Metrics - Aggregates gross profit per ton improved 3% to a quarterly record of $8.16, with pricing increasing 7.7% or 8.9% on an organic mix-adjusted basis [16] - Cement shipments declined by 18% in Q2 due to significant precipitation in Dallas-Fort Worth, but improved in Q3 as weather conditions normalized [8] - The company completed the construction of a new finished mill at Midlothian, providing approximately 450,000 tons of incremental high-margin annual production capacity [18] Market Data and Key Metrics - The company acquired pure aggregate assets in South Florida and Southern California, both attractive and growing markets [10] - The combined reserves of the new acquisitions are over 150 million tons in areas with notable reserve shortages [31] - The company expects 2025 overall aggregate shipments to increase by low single-digits and aggregates pricing to increase by mid to high single-digits [12] Company Strategy and Industry Competition - The company remains focused on long-term aspects such as world-class safety, disciplined execution of its strategic plan, and prudent cost management [12] - The company is strategically positioned in the nation's fastest-growing markets, enhancing its resilience and cash flow generation [23] - The company expects product shipments to recover due to more normal weather patterns and an expected improvement in warehouse and residential construction [12] Management Commentary on Operating Environment and Future Outlook - The company highlighted the impact of extreme weather events on Q3 results, particularly in the Southeast and East regions [26] - Management expects multiyear public construction activity, reshoring, AI infrastructure build-out, and residential recovery to support durable aggregate shipment growth and attractive pricing momentum [16] - The company anticipates a ramp-up period for the new Midlothian capacity, with a thoughtful and methodical approach to market penetration [45] Other Important Information - The company deployed over $2.5 billion on pure-play aggregates assets, invested $622 million of capital back into the business, and returned $591 million to shareholders through dividend payments and share repurchases in the first nine months of 2024 [20] - The Board of Directors approved a 7% increase to the quarterly cash dividend paid in September, reaffirming confidence in the company's future growth and free cash flow generation [21] - The company's net debt-to-EBITDA ratio was 2.0 times for the trailing 12 months ended September 30, 2024, at the low end of the targeted range [22] Q&A Session Question: Impact of weather on Q3 results and shipment trends into October [25] - Weather significantly impacted Q3 shipments and profitability, particularly in high-margin regions [26] - October has seen more normal weather, driving a 5% increase in aggregate shipments forecast for Q4 [26] Question: Recovery efforts in Western North Carolina post-Hurricane Helene [28] - NCDOT estimates Helene recovery expenses between $5 billion and $6 billion, with North Carolina's share around $2 billion [29] - The company is well-positioned to support rebuilding efforts in Western North Carolina and Eastern Tennessee [29] Question: Details on acquisitions in South Florida and Southern California [31] - Both acquisitions are pure aggregate bolt-ons, with combined reserves over 150 million tons [31] - Integration will be completed quickly, with new pricing effective January 1, 2025 [31] Question: Pricing revision and outlook for 2025 [32] - Weather and geographic mix impacted midyear price increases in 2024, leading to a smaller carryover for 2025 [33] - The company expects mid to high single-digit pricing increases in 2025, with an emphasis on the high end [33] Question: Backlog trends and visibility into 2025 volumes [35] - Backlogs are up mid-single-digits year-over-year and sequentially, indicating a much-improved year for volumes in 2025 [36] - Public construction activity, reshoring, and AI infrastructure build-out are expected to drive volume growth [36] Question: Cost inflation and price/cost dynamics for 2025 [37] - Underlying inflation for Q3 was around 5%, with mid-single-digit cost inflation expected for 2025 [39] - The price/cost spread is expected to continue trending favorably [39] Question: Impact of recent acquisitions on Q4 and 2025 volume guidance [40] - Q4 volume guidance does not include contributions from recent acquisitions, which will be factored into 2025 guidance [41] - 2025 volume growth is expected to be low single-digits on an organic basis [41] Question: Increase in CapEx and outlook for 2025 [42] - The increase in CapEx is largely due to the two recent acquisitions, with one structured as an operational acquisition [43] - CapEx for 2025 is expected to be around 9% to 9.5% of revenues [43] Question: Supply-demand dynamics and ramp-up of Midlothian capacity [45] - The company expects a ramp-up period for the new Midlothian capacity, with a thoughtful approach to market penetration [45] Question: Tariffs and cement pricing in DFW [48] - DFW benefits from its location, with limited import activity and a strong local economy [49] - Tariffs could further enhance the already strong market conditions in DFW [49] Question: Geographic outlook for 2025 volume and pricing [50] - Southern California, Texas, Florida, North Carolina, Indiana, Georgia, Colorado, and Arizona are expected to be bright spots for volume and pricing in 2025 [51] Question: End market outlook, particularly data centers and infrastructure [53] - Data centers and AI infrastructure build-out are driving significant aggregates demand, with notable projects in Kansas City, Western North Carolina, and South Carolina [55] - Infrastructure spending is expected to accelerate in 2025, with IIJA funds continuing to support public construction activity [57] Question: Weather impact on 2024 shipments and 2025 volume growth [58] - Weather had a significant negative impact on 2024 shipments, with a return to normal weather expected to drive volume growth in 2025 [59] - The company's preliminary 2025 volume guidance is cautious, with potential upside if weather conditions normalize [59] Question: Pricing trajectory for 2025 [60] - The company expects mid to high single-digit pricing increases in 2025, with potential tailwinds from midyear price increases [61]

| --- | --- | --- | --- | --- | |------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------|-------|-------| | | | | | | | | | | | | | | Q3 2024 | | | | | | SUPPLEMENTAL INFORMATION* | | | | | | October 30, 2024 | | | | | Company's filings with the | * All information provided in these slides is qualified in its entirety by refe ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-12744 MARTIN MARIETTA MATERIALS, INC. (Exact Name of Registrant as Specified in its Charter) North Carolina 56-1848578 (State o ...

Martin Marietta Materials, Inc. (MLM) reported tepid results for third-quarter 2024, with earnings and revenues missing the Zacks Consensus Estimate. Both the top and bottom lines decreased on a year-over-year basis. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. Following the results, shares of this producer and supplier of construction aggregates and other heavy building materials plunged 1% in the pre-market trading session on Wednesday. MLM witnessed significant July precipita ...

For the quarter ended September 2024, Martin Marietta (MLM) reported revenue of $1.89 billion, down 5.3% over the same period last year. EPS came in at $5.91, compared to $6.94 in the year-ago quarter.The reported revenue represents a surprise of -1.73% over the Zacks Consensus Estimate of $1.92 billion. With the consensus EPS estimate being $6.41, the EPS surprise was -7.80%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Stre ...

Martin Marietta (MLM) came out with quarterly earnings of $5.91 per share, missing the Zacks Consensus Estimate of $6.41 per share. This compares to earnings of $6.94 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -7.80%. A quarter ago, it was expected that this seller of granite, limestone, sand and gravel would post earnings of $5.57 per share when it actually produced earnings of $5.26, delivering a surprise of -5.57%. Ov ...

Exhibit 99.1 1 MARTIN MARIETTA REPORTS THIRD-QUARTER 2024 RESULTS Achieved Record Quarterly Aggregates Gross Profit Per Ton Despite Weather Impacts Delivered Record Third-Quarter Cash Flows from Operations and Magnesia Specialties Revenues and Gross Profit Acquired Pure Aggregates Assets in South Florida and Southern California RALEIGH, N.C. (October 30, 2024) – Martin Marietta Materials, Inc. (NYSE: MLM) ("Martin Marietta" or the "Company"), a leading national supplier of aggregates and heavy building mate ...

Achieved Record Quarterly Aggregates Gross Profit Per Ton Despite Weather Impacts Delivered Record Third-Quarter Cash Flows from Operations and Magnesia Specialties Revenues and Gross Profit Acquired Pure Aggregates Assets in South Florida and Southern California RALEIGH, N.C., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Martin Marietta Materials, Inc. (NYSE: MLM) ("Martin Marietta" or the "Company"), a leading national supplier of aggregates and heavy building materials, today reported results for the third quarter ...