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Martin Marietta Materials, Inc. is a natural resource-based building materials company that supplies essential construction materials, including aggregates like crushed stone, sand, and gravel, through an extensive network of quarries, mines, and distribution yards across 28 states, Canada, and The Bahamas . The company also offers cement and downstream products such as ready mixed concrete, asphalt, and paving services, operating in vertically-integrated markets where it holds a leading position in aggregates . The business is organized into two main segments: the East Group and the West Group, each focusing on different combinations of these products .
- Aggregates - Supplies crushed stone, sand, and gravel, forming the core of the company's offerings and supporting construction and infrastructure projects.
- Cement - Provides essential binding material for construction, enhancing the durability and strength of structures.
- Ready Mixed Concrete - Delivers pre-mixed concrete solutions tailored for various construction needs, ensuring quality and consistency.
- Asphalt and Paving Services - Offers asphalt products and comprehensive paving services, supporting road construction and maintenance.
- Magnesia Specialties - Produces magnesia-based chemical products and dolomitic lime, serving industrial and agricultural markets.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
James A. J. Nickolas Executive | Executive Vice President and Chief Financial Officer (CFO) | None | James A. J. Nickolas has been with MLM since at least 2021. His total compensation for 2023 was $4,295,560, reflecting his significant contributions to the company. | |
Roselyn R. Bar Executive | Executive Vice President, General Counsel, and Corporate Secretary | None | Roselyn R. Bar has been with MLM since 1997, starting as Corporate Secretary. She became General Counsel in 2001 and Executive Vice President in 2015. She announced plans to retire in the second half of 2025. |
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Given the 119% increase in precipitation in Dallas-Fort Worth , your largest and most profitable market, and the flooding in parts of the Midwest , how does the company plan to mitigate such significant weather-related risks in the future, and what measures are being implemented to manage the associated financial volatility?
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With the lag effect of restrictive monetary policy pressuring interest rate-sensitive private construction demand more than previously anticipated , how is the company adjusting its strategic priorities to address the sharper-than-expected decline in private non-residential construction?
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Your value-over-volume philosophy contributed modestly to the shipment decline , yet you emphasize margin expansion. Could this strategy potentially limit future market share growth, and how do you balance this approach with long-term volume growth objectives?
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While the M&A pipeline remains active, focusing largely on pure-play aggregates businesses , how are you ensuring effective integration of recent acquisitions like Blue Water and Albert Frei & Sons without overextending resources, and what metrics are you using to assess post-acquisition performance?
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Considering the decline in state and local government highway, bridge, and tunnel contract awards to $114 billion, modestly below 2023 levels , how do you anticipate this will impact your infrastructure segment in the coming quarters, and what strategies are you implementing to offset potential softness in public spending?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
This company is listed among the ten-largest U.S. aggregates producers and operates in the fragmented industry that includes both large public companies and numerous small, privately-held companies. | |
This company is one of the ten-largest U.S. aggregates producers and competes in the fragmented industry of building materials. | |
This company is a major competitor in the building materials industry and is among the ten-largest U.S. aggregates producers. | |
Heidelberg Materials AG | This company is identified as one of the ten-largest U.S. aggregates producers and competes in the fragmented building materials industry. |
Holcim Ltd. | This company is listed as one of the ten-largest U.S. aggregates producers and operates in the fragmented building materials industry. |
Knife River Corporation | This company is mentioned as one of the ten-largest U.S. aggregates producers, competing in the fragmented building materials industry. |
This company is among the ten-largest U.S. aggregates producers and competes in the fragmented building materials industry. | |
This company is identified as one of the ten-largest U.S. aggregates producers and a competitor in the fragmented building materials industry. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Florida & Southern California Bolt-On Acquisitions | 2024 | Completed in October 2024, these bolt-on acquisitions added over 150 million tons of reserves in high-demand South Florida and Southern California markets as part of Martin Marietta’s SOAR plan, remaining below a $1 billion total cost and delivering margin accretive benefits with new pricing effective January 1, 2025. |
Blue Water Industries LLC (BWI Southeast) | 2024 | Completed on April 5, 2024 for $2.05 billion in cash, this acquisition brought in 20 active aggregates operations across Alabama, South Carolina, South Florida, Tennessee, and Virginia—expanding Martin Marietta’s southeast footprint while generating non‐deductible goodwill. |
Albert Frei & Sons, Inc. (AFS) | 2024 | Completed on January 12, 2024, the AFS acquisition secured over 60 years of high-quality hard rock reserves in the Denver metropolitan area, strengthening Martin Marietta’s aggregates platform under its SOAR 2025 initiatives and reported in the West Group. |
Lehigh Hanson, Inc. West Region Business | 2021 | Closed on October 1, 2021 for $2.3 billion in cash (cash-free, debt-free basis), this transaction added 17 aggregates quarries, 2 cement plants, and targeted downstream operations in California and Arizona, supporting Martin Marietta’s SOAR 2025 growth strategy with expected EPS accretion in the first full year post-acquisition. |
Southern Crushed Concrete (SCC) | 2021 | Completed on July 30, 2021, this acquisition expanded Martin Marietta’s footprint in the Houston area—a major aggregates market—by adding recycled concrete operations and approximately 10 new yards, with deductible goodwill and an enhanced product offering. |
Tiller Corporation | 2021 | Completed on April 30, 2021, the acquisition of Tiller Corporation added leading aggregates and hot mix asphalt operations in the Minneapolis/St. Paul region, contributing an estimated $170 million in product revenues and $60 million in Adjusted EBITDA while aligning with the SOAR 2025 strategy and generating deductible goodwill. |
Recent developments and announcements about MLM.
Earnings
New Earnings (Q4 2024)
·Feb 12, 2025, 6:31 PMView full earnings summary →Martin Marietta’s Q4 shows 1% organic volume growth overshadowed by M&A-led gains. A $20M Q4 P&L hit from inventory management (total $50M by mid-2025) weighs on near-term margins. Still, robust 2025–26 infrastructure spend could drive long-term upside.