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 ...

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 ...

In its upcoming report, Martin Marietta (MLM) is predicted by Wall Street analysts to post quarterly earnings of $6.78 per share, reflecting a decline of 2.3% compared to the same period last year. Revenues are forecasted to be $1.97 billion, representing a year-over-year decrease of 1.4%. Over the last 30 days, there has been a downward revision of 3.5% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their init ...

RALEIGH, N.C., Oct. 10, 2024 (GLOBE NEWSWIRE) -- Martin Marietta Materials, Inc. (NYSE:MLM) ("Martin Marietta" or the "Company") will host its third-quarter 2024 earnings conference call on Wednesday, October 30, 2024, at 10:00 a.m. Eastern Time. The Company will release results for the quarter ended September 30, 2024, that morning before the market opens. A live, listen-only webcast and supplemental information will be accessible on the Investors section of the Company's website at www.martinmarietta.com. ...

Olga Shestakova/iStock via Getty Images Martin Marietta Materials, Inc. (NYSE:MLM) recently published their Q2 2024 results, showing a challenging second quarter, with EPS and revenue lower than expected. In this article, I will go through the headwinds and pressures that the company is currently experiencing, including weather disruptions, high-interest rates slowing down the residential and commercial real estate sector, and an adjustment in the inventories of their recent acquisition. In the outlook sect ...

Martin Marietta Materials, Inc. (MLM) announced a 7% hike in quarterly dividend payout, reaffirming its ongoing commitment to enhancing shareholder rewards. This ninth consecutive year hikes underscore the company's emphasis on a well-rounded approach to capital allocation, achieved through a strong balance sheet, solid aggregates-led business model and a commitment to operational excellence. Shares of this producer and supplier of construction aggregates and other heavy building materials rose 2.7% during ...

Financial Data and Key Metrics - Q2 2024 adjusted EBITDA guidance revised to $2.2 billion at the midpoint due to slower shipment trends expected in the second half of the year [5][13] - Building Materials business generated revenues of $1.7 billion, a 3% decrease, and gross profit of $501 million, a 7% decrease, primarily due to divestitures and weather impacts [14] - Aggregates gross profit per ton improved 9% to a Q2 record of $7.41, with a 14% increase excluding the $20 million non-recurring purchase accounting impact [15] - Cement and concrete revenue decreased 37% to $261 million, and gross profit decreased 44% to $72 million, driven by divestitures and weather [15] - Asphalt and paving revenues and gross profit increased modestly to $245 million and $37 million, respectively, both Q2 records [16] - Magnesia Specialties revenues of $81 million were in line with the prior year, while gross profit decreased 2% to $27 million [16] Business Line Performance - Aggregates pricing fundamentals remain strong, with average selling price increasing 11.6% (12% organic mix-adjusted) [7] - Cement business in North Texas returned to near sold-out levels by the end of Q2, with a new finish mill expected to add 450,000 tons of annual production capacity in Q3 [15][59] - Magnesia Specialties saw pricing gains offset lower chemical shipments, with steel utilization levels remaining above the 70% historical average [83][84] Market Trends - Infrastructure remains the most aggregates-intensive end-use, benefiting from increased funding and investment levels, with highway and street spending expected to remain above historic levels [8][9] - Heavy non-residential construction is driven by reshoring activity for large manufacturing and energy projects, with construction spending for domestic manufacturing up 19% YoY to $236 billion in June 2024 [10][11] - Light non-residential and residential activity continues to be impacted by restrictive monetary policy, with high mortgage rates and low inventory exacerbating housing affordability issues [12] Strategic Direction and Industry Competition - The company completed the acquisition of 20 aggregates operations from Blue Water Industries, strategically complementing its footprint in the Southeastern US and positioning it in new markets like Tennessee and South Florida [7][8] - The M&A pipeline remains active, focused on pure-play aggregates businesses in attractive geographies [8] - The company expects a multiyear construction cycle driven by generational infrastructure investments, reshoring, and AI-related infrastructure build-out [12] Management Commentary on Operating Environment and Future Outlook - Weather and high interest rates are viewed as temporary demand impacts, with slower shipment trends expected to persist in the second half of 2024 [5] - The company remains confident in its ability to navigate macroeconomic cycles and deliver sustainable growth, supported by its aggregates-led business model and operational excellence [19] - Management expects an accelerated housing construction recovery when affordability headwinds recede, particularly in single-family homes [13] Other Important Information - The company repurchased 530,000 shares in Q2 at an average price of $566 per share, returning a total of $3.2 billion to shareholders since 2015 through dividends and share repurchases [17] - Net debt-to-EBITDA ratio was 2x as of June 30, providing balance sheet strength and flexibility for M&A, reinvestment, and shareholder returns [17] Q&A Session Summary Question: Impact of weather and market conditions on Q2 performance and outlook for Q3 and Q4 profitability [20] - Weather accounted for 50% of the volume decline, with 25% attributed to economic factors and 25% to the company's value-over-volume strategy [21][23] - Q3 and Q4 EBITDA split is expected to be 55% and 45%, respectively, slightly more weighted to Q4 than usual due to weather impacts [24] Question: Customer backlogs and pricing trends for different project types [25] - Customer backlogs are up sequentially, with infrastructure remaining a strong end-use [26] - Pricing remains attractive, particularly for factories, energy projects, and data centers, with green shoots of single-family housing activity in certain markets [27] Question: Revised guidance and factors influencing the high and low ends of the range [30] - Pricing guidance reaffirmed at 11%-13% increase, with midyear pricing actions expected to have a more significant impact in 2025 [30][31] - Volume guidance reflects weather impacts and inventory drawdown, with cost control and operational flexibility key to managing lower shipment levels [32][33] Question: Integration of Blue Water and Albert Frei & Sons acquisitions and M&A pipeline [39] - Integration of both acquisitions is complete, with performance exceeding expectations and synergies expected to continue [39][40] - The M&A pipeline remains active, with a focus on pure-play aggregates businesses in attractive geographies [42] Question: Prospects for double-digit pricing in 2025 [44] - Management expects pricing to remain strong, supported by infrastructure, housing, and heavy non-residential construction, with a potential step change in pricing levels [45] Question: State funding environments and outlook for fiscal 2025 [48] - State DOT budgets are expected to remain strong, with increases in Texas, Colorado, North Carolina, Georgia, and other key markets [49][50] Question: Impact of inflation on IIJA funding and infrastructure spending [64] - Inflation has eroded some of the volume expected from IIJA, but the company views the act as a long-term floor for infrastructure investment, with potential for reauthorization at or above current levels [65][66] Question: Cement pricing and potential for further increases in 2024 [69] - The company has indicated a dialogue with customers in September regarding pricing, with the Dallas-Fort Worth market remaining particularly attractive [69] Question: Share repurchases and outlook [71] - Share repurchases were driven by an attractive stock price and strong balance sheet, with the company remaining opportunistic in its buyback strategy [71] Question: Aggregate volume guidance and organic trends [72] - Organic volume trends are expected to be influenced by weather and infrastructure activity, with a focus on managing swing factors like winter conditions [72][73] Question: Impact of potential accommodative monetary policy on shipments [74] - Management expects accommodative policy to positively impact shipments in early 2025, particularly in private construction and homebuilding [74] Question: Cost outlook and areas for cost control [76] - COGS per ton is expected to be up 7% in the second half of 2024, with a focus on managing maintenance and repair costs, energy tailwinds, and operational efficiency [76][77] Question: Pricing harmonization in recently acquired operations [79] - The company is working to harmonize pricing in the Western US, with a focus on achieving premium pricing in California and closing the gap in Tennessee and other markets [80][81] Question: Magnesia Specialties business performance and outlook [83] - The Magnesia Specialties business is performing well, with pricing gains offsetting lower chemical shipments and record EBITDA expected for 2024 [83][85] Question: Impact of the election on activity and IRA-related projects [87] - The company is relatively agnostic to election outcomes, with infrastructure investment expected to remain strong regardless of administration changes [88][89]