Martin Marietta Reports Fourth-Quarter and Full-Year 2025 Results

Core Insights - Martin Marietta achieved record revenues, gross profit, and margins for both the fourth quarter and full year of 2025, with a notable double-digit improvement in full-year aggregates unit profitability [1][4][6] - The company provided guidance for 2026, anticipating low single-digit growth in shipments, driven by infrastructure investment and data center momentum [6][17] Financial Performance - Fourth-quarter revenues reached $1,534 million, a 9% increase from $1,412 million in 2024, while full-year revenues were $6,150 million, up 9% from $5,662 million [3][31] - Gross profit for the fourth quarter was $468 million, a 10% increase from $424 million in 2024, and for the full year, it rose 16% to $1,889 million from $1,636 million [3][31] - Earnings from continuing operations for the fourth quarter were $233 million, down 6% from $248 million in 2024, and for the full year, they decreased 45% to $990 million from $1,815 million [3][31] Aggregates Business - Fourth-quarter aggregates shipments increased by 2% to 48.9 million tons, with an average selling price per ton rising 5% to $23.11 [8][9] - Gross profit from aggregates reached a record $420 million in the fourth quarter, an 11% increase from $379 million in 2024, with gross profit per ton increasing by 9% to $8.59 [9][31] Specialties Business - The Specialties business achieved record revenues of $133 million and gross profit of $29 million in the fourth quarter, reflecting contributions from Premier Magnesia, LLC [11][31] Strategic Initiatives - The company executed its five-year Strategic Operating Analysis and Review (SOAR) 2025 plan and launched SOAR 2030, focusing on portfolio optimization and maintaining a strong balance sheet [5][6] - Martin Marietta entered into an asset exchange agreement with Quikrete Holdings, expected to close in Q1 2026, which will enhance its aggregates operations [12][13] Cash Generation and Shareholder Returns - Cash provided by operating activities increased by 22% to a record $1.79 billion for the year ended December 31, 2025 [15][16] - The company returned $647 million to shareholders through dividends and share repurchases during the year [16][31] 2026 Guidance - For 2026, the company expects revenues between $6,420 million and $6,780 million, with net earnings from continuing operations projected between $1,043 million and $1,158 million [17][18]