Analysts on Wall Street project that Martin Marietta (MLM) will announce quarterly earnings of $1.85 per share in its forthcoming report, representing a decline of 14.4% year over year. Revenues are projected to reach $1.3 billion, declining 4.4% from the same quarter last year.Over the last 30 days, there has been an upward revision of 2.8% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts ...

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Martin Marietta (MLM) . This company, which is in the Zacks Building Products - Concrete and Aggregates industry, shows potential for another earnings beat.This seller of granite, limestone, sand and gravel has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average su ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 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 or other ...

Financial Data and Key Metrics - Consolidated total revenues for 2023 reached $6.8 billion, a 10% increase year-over-year [8] - Consolidated gross profit for 2023 was $2 billion, a 42.1% increase year-over-year [8] - Adjusted EBITDA for 2023 was $2.1 billion, a 33% increase year-over-year [277] - Aggregates gross profit per ton increased by 46.4% to $6.93 in 2023 [277] - Earnings per diluted share from continuing operations increased by 41% to $19.32 in 2023 [277] Business Line Performance - Aggregates business achieved record revenues of $4.3 billion in 2023, a 10.9% increase, with gross profit up 40.1% to $1.4 billion and gross margin increasing by 660 basis points to 32% [12] - Asphalt and paving revenues increased by 12.6% to $887.1 million, with gross profit up 34.7% to $109 million due to strong demand and lower bitumen costs [13] - Concrete revenues increased by 5.9% to $1 billion, with gross profit up 44.2% to $102 million, driven by pricing gains and mega project contributions [278] - Texas Cement revenues increased by 17% to $725.5 million, with gross profit up 64.6% to $333.6 million, driven by favorable supply/demand dynamics in the Dallas-Fort Worth Metroplex [225] Market Performance - Aggregate shipments declined by 4.3% in 2023 due to softer demand in certain Midwest and Southwest markets, partially offset by strength in Southeast markets [9] - Aggregates pricing increased by 18.9% (17.2% mix-adjusted) in 2023, reflecting strong pricing fundamentals [9] - Infrastructure volumes were up 6% in Q4 2023, despite overall volumes being down 2% [126] - Texas, Florida, North Carolina, and Minnesota saw significant increases in Department of Transportation budgets, supporting public infrastructure demand [75] Strategic Direction and Industry Competition - The company completed several portfolio-enhancing transactions, including the acquisition of Blue Water Industries, which strengthens its position in attractive Southeast markets [5][6] - The company expects double-digit aggregates pricing growth to overcome inflationary pressures and lead to expanded gross margins and unit profitability growth [18] - The company's value-over-volume strategy has been successful, with pricing growth more than offsetting lower shipments [187] - The company anticipates healthy demand in public and heavy non-residential construction to offset softness in the residential sector and light non-residential construction [15] Management Commentary on Operating Environment and Future Outlook - Management expects 2024 to be another record year, with flat aggregate shipments as infrastructure and large-scale non-residential projects offset softness in residential and light non-residential sectors [189] - The company expects consolidated adjusted EBITDA of $2.24 billion at the midpoint for 2024, driven by strong pricing growth and contributions from recent acquisitions [186] - Management highlighted the bipartisan support for infrastructure investment, with 88% of transportation-related state and local ballot initiatives approved in November 2023, representing approximately $7 billion in additional funding [16] - The company anticipates a recovery in single-family residential demand as interest rates decline and mortgage payments become more affordable [31] Other Important Information - The company returned $2.6 billion to shareholders through dividends and share repurchases since the repurchase authorization announcement in February 2015 [14] - The company achieved a world-class total injury incident rate for the third consecutive year and a world-class lost-time incident rate for the seventh consecutive year in 2023 [190] - The company expects the new finish mill at its Midlothian, Texas plant to be fully operational in Q3 2024, adding approximately 450,000 tons of incremental high-margin production capacity [210] Q&A Session Summary Question: Impact of January weather on Q1 performance [22] - Management noted that Q1 2023 had unseasonably good weather, contributing to 15% of gross profit for the year, but expects Q1 2024 to be impacted by challenging weather conditions, with gross profit likely to be around 11.5% of the full year [37][38] Question: Capital expenditure guidance for 2024 [61] - The company expects CapEx to be between 8% to 10% of sales, with a midpoint of 9%, driven by large projects such as the Beckman plant upgrade in San Antonio and real estate purchases [79][80][81] Question: M&A pipeline and capital allocation [268] - Management expects 2024 to be an active year for M&A, with a focus on pure-play aggregates transactions, and remains open to tapping capital markets for the right deal [269][128] Question: Pricing dynamics and inflation [286] - Management believes the industry has learned from the hyperinflation period and expects pricing to remain disciplined, with long-term reserves becoming more valuable over time [287][288] Question: Infrastructure Investment and Jobs Act (IIJA) impact [105] - Management expects the IIJA to drive steady, multi-year demand for aggregates, with 2024 being the first year of significant stone demand related to the act [179][112] Question: Volume guidance for 2024 [165] - Management expects flat aggregate shipments for 2024, with potential upside in the second half of the year driven by infrastructure and large-scale non-residential projects [273][274]

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, 2023 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. (NYSE:MLM) Q3 2023 Earnings Conference Call November 1, 2023 10:00 AM ET Company Participants Jacklyn Rooker - Director-Investor Relations Ward Nye - Chairman, President & Chief Executive Officer Jim Nickolas - Executive Vice President & Chief Financial Officer Conference Call Participants Kathryn Thompson - Thompson Research Group Trey Grooms - Stephens Stanley Elliott - Stifel Jerry Revich - Goldman Sachs Anthony Pettinari - Citi Phil Ng - Jefferies Timna Tanners - Wolfe Re ...

| --- | --- | --- | --- | --- | --- | |------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | Q3 2023 | | | | | | | SUPPLEMENTAL INFORMATION* | | | | | | | November 1, 2023 | | | | | | Company's filings with the | * All information provided in these slides is qualified ...

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 June 30, 2023 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 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 MARTIN MARIETTA MATERIALS, INC. (Exact Name of Registrant as Specified in its Charter) North Carolina 56-1848578 (State or oth ...

| --- | --- | --- | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | Q2 2023 | | | | | | SUPPLEMENTAL INFORMATION* | | | | | | July 27, 2023 | | | | | | * All information provided in these slides is qualified in its entirety by reference to the Company's ...

Financial Data and Key Metrics Changes - The company reported consolidated total revenues of $1.82 billion, an 11% increase year-over-year [19] - Consolidated gross profit reached $560 million, a 32% increase [19] - Adjusted EBITDA was $596 million, reflecting a 25% increase [19] - Aggregates gross profit per ton increased to $6.80, a 28% rise [19] - The company raised its 2023 adjusted EBITDA guidance to a range of $2 billion to $2.1 billion, representing a 28% increase at the midpoint compared to the previous year [4] Business Line Data and Key Metrics Changes - Aggregate shipments declined by 5.7% due to a lag in single-family housing starts, but pricing fundamentals remained strong with an 18.6% increase [106] - Texas cement shipments were a record 1.1 million tons, with pricing growing by 21.8% [106] - Ready-mix concrete shipments decreased by 1.7%, while pricing increased by 21.9% [106] - Asphalt shipments increased by 1.7%, with pricing improving by 7.9% [106] - Magnesia Specialties revenues totaled $80.5 million, with gross profit increasing by 13% to $27.7 million [108] Market Data and Key Metrics Changes - Non-residential construction accounted for 35% of second-quarter aggregate shipments, with demand driven by onshore manufacturing and energy projects [6] - Construction spending for manufacturing in the U.S. reached a seasonally adjusted annual rate of $194 billion, a 76% increase from the previous year [6] - The value of state and local government contract awards for infrastructure projects increased by 25% year-over-year to a record $114 billion [111] Company Strategy and Development Direction - The company is focused on maintaining a resilient aggregates-led business model and executing its SOAR 2025 initiatives [8] - The divestiture of the Stockton, California cement import terminal was finalized to enhance the company's margin profile [91] - The company anticipates sustained demand for products due to historic legislation like the Infrastructure Investment and Jobs Act [98] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the raised financial guidance for 2023, citing strong second-quarter performance as a foundation for the remainder of the year [8] - The company expects recent declines in aggregate shipments to find a bottom in the third quarter of 2023 [4] - Management noted that the residential market has likely found a bottom, with expectations for a recovery in single-family starts [22] Other Important Information - The company returned $116 million to shareholders through dividends and share repurchases in the quarter [96] - The net debt-to-EBITDA ratio improved to 2.1x, within the targeted range of 2x to 2.5x [109] - The Midlothian, Texas plant is expected to complete a new finish mill by the third quarter of 2024, increasing production capacity [94] Q&A Session Summary Question: What are the drivers for cement performance in Texas? - Management noted that cement can perform better in adverse weather conditions compared to aggregates, with strong performance in Dallas and San Antonio [10][11] Question: How is the company positioned strategically with the infrastructure bill? - Management highlighted that the company is halfway through its SOAR 2025 program and sees significant opportunities due to government infrastructure investments [27] Question: What is the outlook for pricing and volume? - Management indicated that pricing is currently a stronger driver than volume, with expectations for continued price increases and a recovery in volumes later in the year [29][33] Question: How are cement margins expected to evolve? - Management expects cement margins to remain strong, benefiting from the company's position as a large-scale supplier in Texas [81][60] Question: What is the impact of mid-year price increases? - Management anticipates a positive carryover effect from mid-year price increases into 2024, with expectations for further price increases in January [48][118]