MLM
Martin Marietta Materials, Inc.629.49
-4.39-0.69%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A flags infra, data upside, cost levers
Q&A fleshed out 2026 guidance drivers, projecting mid-single-digit infrastructure growth from IIJA peaks and local referendums, data center surges (60% Q4 growth) and energy/LNG upside countering flat housing. Management spotlighted a quarry optimization pilot that cut Q4 COGS per ton year-over-year, with enterprise rollout set for mid-year guide tweak—hinting at extra leverage beyond the measured 250bps price-cost spread. Highway bill reauthorization eyes spring text release for on-time passage with more highway dollars. Pricing rhythm steady at mid-singles; specialties organic strong despite Premier dilution. January volumes defied freezes. Watch network efficiencies and Quickrete close for thesis lift.
Key Stats
Market Cap
37.96BP/E (TTM)
32.36Basic EPS (TTM)
19.45Dividend Yield
0.01%Recent Filings
8-K
Asset swap complete, aggregates grow
Martin Marietta completed its asset exchange with Quikrete on February 23, 2026, acquiring ~20 million tons of annual aggregates production in Virginia, Missouri, Kansas, and Vancouver, B.C., plus $450 million cash. It swapped out cyclical cement and Texas ready-mix assets. Deal boosts aggregates mix to ~90% of gross profit. Updated 2026 guidance: $7.16B revenue, $2.43B Adjusted EBITDA midpoint. Integration challenges loom.
10-K
FY2025 results
Martin Marietta posted FY2025 revenues of $6.2B, up from $5.7B in 2024, with aggregates gross profit hitting $1.7B (34% margin) on 198.5M tons shipped, a 3.8% y/y rise fueled by infrastructure (+5%) and nonresidential (+6%) strength despite residential softness. Q4 accelerated with normalized Southeast/Texas weather boosting volumes, while 6.9% pricing gains outpaced costs; East Group drove gains via BWI Southeast integration. Free cash flow not disclosed in the 10-K. Yet balance sheet stays solid at $5.3B debt. QUIKRETE asset swap pending. Weather stalls construction momentum.
8-K
MSHA order at Kokomo Quarry
Martin Marietta received an MSHA section 107(a) order on February 11, 2026, for a fall protection violation at its Kokomo Quarry in Indiana, where a miner on a 10-foot elevated crusher platform wasn't properly anchored despite wearing gear. Corrective action followed swiftly. No injuries occurred. The order is now terminated.
8-K
Record aggregates results
Martin Marietta posted record Q4 and full-year 2025 aggregates revenues of $1.2B and $5.0B, with gross profit up 11% and 16% to $420M and $1.7B; shipments rose 2% to 48.9M tons, ASP climbed 5% to $23.11/ton. Specialties hit records too, yet net earnings fell 45% to $990M from 2024 divestiture gains. Guidance eyes 2026 aggregates volume up low single-digits, revenues ~$6.6B. QUIKRETE swap closes Q1.
8-K
Asset exchange delayed to Q1 2026
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