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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 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.
Martin Marietta Materials will hold its first-quarter 2022 earnings conference call on May 3, 2022, at 11:00 a.m. ET. The earnings results for the quarter ending March 31, 2022, will be released that morning before market opening. Investors can access a live webcast and supplemental information on the Company’s website. The conference call can also be joined by phone with a prior dial-in recommended. Martin Marietta is a leading supplier of building materials, operating across 28 states, Canada, and The Bahamas.
On April 1, 2022, Martin Marietta Materials (NYSE: MLM) announced the completion of its divestiture of ready mixed concrete operations in Colorado and Central Texas to Smyrna Ready Mix Concrete LLC. This strategic move aligns with the company's capital allocation priorities, aimed at enhancing shareholder value. Chairman and CEO Ward Nye expressed gratitude for the workforce's contributions, marking the sale as a key step in the company's overall strategic plan. Martin Marietta remains a leading supplier of building materials across North America.
On March 24, 2022, Martin Marietta Materials (NYSE: MLM) announced a definitive agreement to divest its Colorado and Central Texas ready mixed concrete operations to Smyrna Ready Mix Concrete LLC. This strategic move aligns with the company’s SOAR 2025 objectives aimed at optimizing its aggregates-led portfolio. Proceeds from the sale will support capital allocation priorities, including acquisitions and shareholder returns. The transaction is set to close by March 31, 2022, pending regulatory approvals.
On March 1, 2022, Martin Marietta Materials (NYSE: MLM) announced a definitive agreement to sell its West Coast cement and ready mixed concrete operations to CalPortland Company for $250 million in cash. This sale includes the Redding cement plant and 14 ready-mixed concrete plants in California. CEO Ward Nye emphasized that this divestiture aligns with their SOAR 2025 plan aimed at optimizing their portfolio. The transaction is expected to close in the second half of 2022, pending regulatory approval.
Martin Marietta Materials has declared a quarterly cash dividend of $0.61 per share, amounting to an annualized $2.44. This dividend is payable on March 31, 2022, to shareholders of record as of the close of business on March 1, 2022. A member of the S&P 500 Index, Martin Marietta is a major supplier of building materials, with operations across 28 states, Canada, and The Bahamas. The company also produces high-purity magnesia and dolomitic lime products for various applications worldwide.
Martin Marietta reported record full-year results for 2021 with adjusted EBITDA exceeding $1.5 billion. Revenues for the year reached $5.4 billion, driven by strong demand across all product lines. The Building Materials segment achieved record revenues of $4.8 billion, a 14.2% increase year-over-year. Organic aggregates shipments rose 4% for the year, with pricing momentum continuing into 2022.
Guidance for 2022 suggests revenues between $5.78 billion and $5.98 billion, with expected net earnings of $805 million to $915 million.
Martin Marietta Materials, Inc. (NYSE:MLM) plans to host its earnings conference call for Q4 and full-year 2021 results on February 10, 2022, at 11:00 a.m. Eastern Time. Results will be released prior to market opening that day. Investors can access a live webcast on the company’s website or join via phone at 970-315-0423 with confirmation number 1786214. The company operates across 30 states, Canada, and The Bahamas, providing aggregates, cement, and other building materials, contributing to community infrastructure.
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