MARTIN MARIETTA MATERIALS (MLM) Company Report

Q3 2025 continuing operations revenues reached $1.846 billion (+12% y-o-y), net earnings were $361 million (+22% y-o-y), and Adjusted EBITDA was $667 million (+22% y-o-y).
Achieved all-time quarterly records for aggregates revenues, profitability and margin.
Announced a pending strategic asset swap with QUIKRETE to further enhance the aggregates platform, margin profile and earnings durability.
Raised full-year 2025 consolidated Adjusted EBITDA guidance given strong year-to-date performance and aggregates shipment trends.

Nov 4, 2025, 3:00 PM

Presentation

Martin Marietta reports record Q3 2025 earnings and raises guidance

MLM

Earnings

Guidance Update

M&A

Aggregates revenues reached $1.5 billion (up 17%) and gross profit was $531 million (up 21%); specialties revenues hit $131 million (up 60%).
Revenues from continuing operations were $1.8 billion (up 12%) and adjusted EBITDA from continuing operations was $667 million (up 22%); EPS from continuing operations was $5.97 (up 23%).
Raised full-year 2025 consolidated adjusted EBITDA guidance to $2.32 billion at the midpoint, reflecting strong aggregates performance and October shipping trends.
Entered a definitive asset exchange with Quikrete to acquire aggregates operations (~20 Mt annual capacity) and divest Midlothian cement and Texas ready-mix assets, expected to close in Q4 2025.
Preliminary 2026 outlook calls for low single-digit aggregates volume growth and mid single-digit pricing gains, driven by infrastructure investment and non-residential demand.

Nov 4, 2025, 3:00 PM

Transcript

Martin Marietta Materials reports Q3 2025 results

MLM

Earnings

Guidance Update

M&A

Martin Marietta delivered record Q3 aggregates revenues of $1.5 billion (+17% YoY) and gross profit of $531 million (+21%), with gross margins expanding 142 bps to 36%.
Consolidated revenues from continuing operations were $1.8 billion (+12%), Adjusted EBITDA from continuing ops $667 million (+22%), and EPS from continuing ops $5.97 (+23%).
Raised full-year 2025 consolidated Adjusted EBITDA guidance to $2.32 billion midpoint and set a preliminary 2026 outlook of low single-digit aggregates volume growth, mid-single-digit pricing, and a >250 bps price-cost spread.
Entered an asset exchange agreement with Quikrete (closing expected Q4 2025) and approved a 5% quarterly dividend increase in Q3.

Nov 4, 2025, 3:00 PM

Transcript

Martin Marietta Materials reports Q3 2025 results

MLM

Earnings

Guidance Update

M&A

Achieved record aggregates revenues of $1.5 billion (+17%), gross profit of $531 million (+21%), gross profit per ton of $9.17 (+12%) and a 36% margin (+142 bps); specialties revenues hit a quarterly high of $131 million (+60%) with gross profit of $34 million (+20%).
Continuing operations revenues grew 12% to $1.8 billion, with adjusted EBITDA up 22% to $667 million and EPS of $5.97 (+23%); raised full-year 2025 consolidated adjusted EBITDA guidance to $2.32 billion at midpoint.
Entered definitive agreement to exchange certain assets with Quikrete, acquiring aggregates operations (~20 million tons capacity) in exchange for cement and ready-mix assets; transaction expected to close in Q4 2025.
Preliminary 2026 outlook calls for low single-digit aggregates volume growth and mid-single-digit pricing gains, driven by federal infrastructure spending and non-residential demand.
Maintained strong liquidity of $1.1 billion as of September 30 and approved a 5% increase in the quarterly dividend; returned $597 million year-to-date via dividends and share repurchases.

Nov 4, 2025, 3:00 PM

Transcript

Martin Marietta reports Q3 2025 results

MLM

Earnings

Guidance Update

M&A

Achieved record quarterly aggregates revenues, profitability and margin, underscoring the strength of its SOAR strategy and aggregates-led focus.
Reported Q3 revenues of $1,846 million (up 12%), gross profit of $611 million (up 19%) and earnings from operations of $505 million (up 24%) year-over-year.
Generated net earnings from continuing operations of $361 million (up 22%) and diluted EPS of $5.97 (up 23%).
Aggregates shipments rose 8% to 57.9 million tons with ASP up 8% to $23.24/ton, while Specialties delivered record revenues of $131 million and gross profit of $34 million, driven by organic growth and the July 25 acquisition of Premier Magnesia.
Raised full-year 2025 guidance for Consolidated Adjusted EBITDA to $2.30–$2.34 billion (midpoint $2.32 billion) on strong year-to-date performance.

Nov 4, 2025, 12:02 PM

8-K

Martin Marietta receives regulatory approval for Quikrete asset exchange

MLM

M&A

Received all necessary regulatory approvals for its asset exchange with Quikrete, with closing expected in Q4 2025.
Will acquire aggregates operations producing approximately 20 million tons annually across Virginia, Missouri, Kansas, and Vancouver, British Columbia, plus $450 million in cash.
Quikrete will receive the Midlothian cement plant, related cement terminals, and ready-mixed concrete assets in North Texas.
The transaction remains subject to customary closing conditions.

Oct 2, 2025, 8:17 PM

Press Release

Martin Marietta outlines SOAR 2030 growth strategy

MLM

Guidance Update

M&A

New Projects/Investments

Targets a 250 bps price-cost spread to drive double-digit EBITDA CAGR, projecting EBITDA of $3.7–4.4 billion by 2030 under flat to modest volume recovery scenarios.
Maintains a disciplined M&A approach as first use of capital, with $13–15 billion of firepower through 2030 for strategic bolt-ons, leveraging a rapid “integrate over a weekend” playbook.
Organic investments include sustaining CapEx at ~25% of EBITDA and productivity-focused growth projects (e.g., North Bridgeport automated plant), while reinforcing reserves via adjacent land acquisitions.
Returned capital via $1.2 billion in share repurchases and $800 million in dividends during SOAR 2025, with commitment to ongoing balanced returns.
Strong balance sheet with target net leverage of 2.0–2.5×, investment-grade rating, and long-dated, low-cost debt to support growth.

Sep 3, 2025, 5:00 PM

Martin Marietta Q1 2025 Financial & Operational Highlights

MLM

Earnings

Guidance Update

Share Buyback

Revenue Acceleration/Inflection

Record Q1 2025 performance: Achieved $1.35B in revenues (+8% YoY), $116M in net earnings (-89% YoY), and a record $335M gross profit [0,2,3].
Robust EBITDA results: Reported $351M in adjusted EBITDA (+21% YoY) with a 26% margin alongside full-year adjusted EBITDA guidance of $2.25B [0,2,4].
Strong segment performance: Aggregates posted quarterly shipment records of 39M tons and the Magnesia Specialties business set new revenue and profit records [0,2,4].
Capital deployment: Nearly 911,000 shares repurchased at an average price of $494 and a $49M dividend payout strengthened balance sheet flexibility .
Management update: CFO transition with Jim Nicholas’s departure and Bob Cardin stepping in as interim CFO to ensure continuity .

Apr 30, 2025, 3:01 PM

Transcript Presentation 8-K

Martin Marietta Materials Inc Announces Q1 2025 Financial Results and CFO Transition

MLM

Earnings

CFO Change

Q1 2025 Financial Estimates: The company expects to report $1.353 billion in revenues, $116 million in net earnings, and $351 million in adjusted EBITDA, with full results and a detailed outlook to be discussed on the earnings call scheduled for April 30, 2025.
CFO Transition: James A.J. Nickolas has resigned as Executive Vice President and Chief Financial Officer effective immediately, and Robert J. Cardin has been appointed Interim CFO.

Apr 10, 2025, 12:00 AM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for MARTIN MARIETTA MATERIALS.