Core Insights - Martin Marietta Materials, Inc. has entered into a definitive agreement with Quikrete Holdings, Inc. for an asset exchange, which includes receiving aggregates operations producing approximately 20 million tons annually and $450 million in cash, while exchanging its Midlothian cement plant and related assets [1] - The acquisition of Premier Magnesia, LLC enhances Martin Marietta's position as a leading producer of magnesia-based products in the U.S. [2] - These transactions are aimed at optimizing the company's portfolio, leading to a higher margin enterprise that is more resilient through economic cycles [3] Transaction Details - The asset exchange with Quikrete is expected to close in the first quarter of 2026, pending regulatory approvals [1] - The Premier acquisition was completed on July 25, 2025, and includes operations in Nevada, North Carolina, Indiana, and Pennsylvania [2] Strategic Goals - The company aims to improve its portfolio attractiveness through asset purchases, exchanges, and divestitures, aligning with its Strategic Operating Analysis and Review (SOAR) 2025 plan [4] - The focus is on core aggregates assets and pursuing accretive acquisitions for the Magnesia Specialties business to position the company for long-term earnings growth [4] Financial Performance - For the second quarter of 2025, the company expects revenues of $1.81 billion, net earnings of $328 million, and adjusted EBITDA of $630 million [5] - The full-year 2025 adjusted EBITDA guidance has been raised to $2.30 billion at the midpoint, reflecting strong first-half results and contributions from the Premier acquisition [5]
Martin Marietta and Quikrete to Exchange Certain Cement and Concrete Assets for Aggregates Assets; Company Also Completes Acquisition of Premier Magnesia, LLC; Previews Second Quarter 2025 Earnings and Raises Full-Year Guidance