Welcome to our dedicated page for Martin Marietta Materials news (Ticker: MLM), a resource for investors and traders seeking the latest updates and insights on Martin Marietta Materials stock.
Martin Marietta Materials, Inc. (NYSE: MLM) is an American company and a member of the S&P 500 Index. It stands as one of the leading suppliers of aggregates and heavy building materials, with operations spanning 36 states, Canada, and the Caribbean. The company’s core business involves the production and supply of construction aggregates such as crushed stone, sand, and gravel. In 2023, Martin Marietta managed to sell an impressive 199 million tons of aggregate materials.
Additionally, Martin Marietta produces cement in Texas and integrates its aggregates into its asphalt and ready-mixed concrete operations. The company's significant markets include Texas, Colorado, North Carolina, Georgia, and Florida, which constitute the majority of its sales.
Martin Marietta's Magnesia Specialties business unit produces a diverse array of products including magnesium oxide, magnesium hydroxide, and dolomitic lime. These products find applications in various industries such as environmental, industrial, agricultural, and specialty sectors worldwide.
Recently, the company has been making headlines with key strategic moves. In November 2023, Martin Marietta announced an agreement to sell its South Texas cement business and related concrete operations to CRH Americas Materials, Inc. for $2.1 billion. This sale includes the Hunter cement plant, related distribution terminals, and 20 concrete plants in the Austin and San Antonio regions. This decision aligns with the company’s SOAR (Strategic Operating Analysis and Review) 2025 objectives aiming to optimize its portfolio and maximize stakeholder value.
Furthermore, Martin Marietta has been recognized as the “Undervalued Stock” in BetterInvesting Magazine’s March 2024 issue, reflecting its potential for growth and value in the market. The company also maintains a robust financial position, boasting $1.27 billion in unrestricted cash and cash equivalents as of December 31, 2023.
In May 2024, Martin Marietta entered into an agreement with Albemarle Corporation to process and sell extracted limestone material from Albemarle's Kings Mountain Mine project. This initiative underscores Martin Marietta's commitment to sustainable resource management and environmental stewardship.
With a dedicated team and extensive network of operations, Martin Marietta continues to supply essential materials for building solid foundations on which communities thrive.
Martin Marietta Materials, Inc. (NYSE:MLM) will announce its fourth-quarter and full-year 2022 earnings on February 15, 2023, at 10:00 a.m. ET. The results will be available before the market opens. A live webcast and supplemental information will be accessible via the company's Investors section on its website. Martin Marietta is a leading supplier of building materials, including aggregates, cement, and concrete, operating in 28 states, Canada, and The Bahamas. The company also provides magnesium oxide and lime products through its Magnesia Specialties business. For more details, visit www.martinmarietta.com.
Martin Marietta Materials has declared a quarterly cash dividend of $0.66 per share on its common stock, amounting to $2.64 annually. The dividend is scheduled for payment on December 30, 2022, to shareholders on record as of December 1, 2022. As a member of the S&P 500 Index, Martin Marietta is a leading supplier of building materials like aggregates, cement, and concrete across 28 states, Canada, and The Bahamas. Additionally, the company produces high-purity magnesia products for various applications worldwide.
Martin Marietta Materials reported record third-quarter revenues of $1.811 billion, a 16.3% increase year-over-year, driven by double-digit pricing growth across all product lines. Gross profit rose 10.4% to $487.8 million. Earnings per diluted share from continuing operations was $4.67, a 14.7% increase. Despite flat organic aggregates shipments due to logistical challenges, pricing increased by 11.9%. The company expects margin expansion in Q4 2022, anticipating strong public infrastructure demand to offset residential market softness. Updated guidance for 2022 estimates total revenues between $5.740 and $5.845 billion.
Martin Marietta Materials, Inc. (NYSE:MLM) will hold its third-quarter 2022 earnings conference call on November 2, 2022, at 11:00 a.m. ET. The earnings results for the quarter ending September 30, 2022, will be released that morning before the market opens. Investors can access the live webcast and additional information on the Company’s website. Martin Marietta is a prominent supplier of building materials across 28 states, Canada, and The Bahamas, with a diverse product range including aggregates, cement, and concrete.
Martin Marietta Materials announced an 8% increase in its quarterly cash dividend, rising from $0.61 to $0.66 per share. This amounts to an annualized dividend of $2.64 per share. The dividend will be payable on September 30, 2022, to shareholders of record as of September 1, 2022. CEO Ward Nye emphasized the company's strong financial position and commitment to returning capital to shareholders while pursuing growth opportunities.
Martin Marietta Materials, Inc. (NYSE: MLM) has entered into a definitive agreement to sell its Tehachapi, California cement plant and related distribution terminals to CalPortland Company for $350 million in cash. The deal is expected to close in the first half of 2023, pending regulatory approvals and customary closing conditions.
This divestiture aligns with Martin Marietta's strategic focus, allowing the company to strengthen its core operations while enhancing shareholder value through the cash influx from this transaction.
Martin Marietta achieved record Q2 2022 revenues of $1.641 billion, up 19.1% year-over-year, driven by strong demand and strategic acquisitions.
Net earnings surged 56.4% to $353.2 million, with adjusted EBITDA increasing 8.9% to $478.3 million.
Despite inflationary pressures, the aggregates business saw organic shipment growth of 1.8% and pricing increase of 8.8%. Full-year guidance was updated, projecting consolidated revenues between $5.77 billion and $5.91 billion.
Martin Marietta Materials, Inc. (NYSE:MLM) will host its Q2 2022 earnings conference call on July 28, 2022, at 11:00 a.m. ET. The company plans to release financial results for the quarter ended June 30, 2022, prior to market open. Investors can access a live webcast of the call through the company’s Investors section on its website, with on-demand replays available for one year post-broadcast. Martin Marietta, part of the S&P 500 Index, operates a diverse network across 28 states and internationally, supplying essential building materials.
Martin Marietta Materials, Inc. (NYSE: MLM) has declared a quarterly cash dividend of $0.61 per share, equating to $2.44 annually. This dividend is set to be paid on June 30, 2022, to shareholders of record by June 1, 2022. The company is a leading supplier of building materials and operates across 28 states, Canada, and The Bahamas, emphasizing its role in providing essential resources for community infrastructure.
Martin Marietta reported record consolidated revenues of $1,230.8 million for Q1 2022, a 25.3% increase year-over-year. The building materials sector saw a revenue spike of 25.7% driven by strong demand and pricing gains. However, gross profit declined 10.6% to $156.1 million, with net earnings falling 62.5% to $24.5 million. The company has raised its 2022 guidance, anticipating adjusted EBITDA between $1.7 billion and $1.8 billion due to expected pricing realizations. Strategic divestitures are aimed at reducing cyclicality and enhancing margins.
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