From GlobeNewswire: 2025-02-12 06:55:00

Martin Marietta Materials, Inc. reported a strong fourth quarter and full-year results, achieving records for aggregates revenues, gross profit, and unit profitability. The company completed aggregates bolt-ons in Florida, Southern California, and Texas. Quarterly revenues were $1.632 billion, with a 1% increase from the previous year, while gross profit was $489 million. Earnings from operations saw an 8% increase to $399 million. Adjusted EBITDA for the year was $2.066 billion.

Despite facing challenges like inclement weather and softening construction demand, Martin Marietta saw a return to earnings growth and margin expansion in 2024. The company achieved nearly double-digit growth in unit margins, expanded Adjusted EBITDA margins, and reshaped its portfolio through acquisitions and divestitures, creating a more durable business. The company is confident in achieving the midpoint of its 2025 full-year Adjusted EBITDA guidance of $2.25 billion.

In the fourth quarter, the Building Materials business achieved revenues of $1.6 billion and gross profit of $472 million, both records. Aggregates shipments increased by 2.7% to 47.9 million tons, with an average selling price per ton of $21.95, a 9% increase. Aggregates gross profit per ton increased by 12% to $7.92, with a gross margin of 33%. Cement and downstream businesses saw decreases in revenues and gross profit, primarily due to divestitures.

Martin Marietta Materials completed acquisitions of aggregates-led assets in Southwest Florida, Southern California, and West Texas in the fourth quarter. The company generated cash provided by operating activities of $1.5 billion for the year, with $639 million returned to shareholders through dividend payments and share repurchases. As of December 31, 2024, the company had $670 million in cash and cash equivalents and $1.2 billion in unused borrowing capacity.

For the full year 2025, Martin Marietta provided guidance with a range of total revenues between $6.83 billion and $7.23 billion, an estimated tax rate between 20.5% and 21.5%, and Adjusted EBITDA between $2.15 billion and $2.35 billion. The company also outlined growth expectations for its various business segments, including aggregates, cement, ready mixed concrete, asphalt and paving, and magnesia specialties.

Martin Marietta Materials uses non-GAAP financial measures like Adjusted EBITDA and mix-adjusted average selling price to evaluate its performance and provide useful information to investors. Mix-adjusted ASP excludes the impact of product, geographic, and other mix on the average selling price. The company remains focused on sustainable earnings growth, operational performance, and creating shareholder value for the future.



Read more at GlobeNewswire:: Martin Marietta Reports Fourth-Quarter and Full-Year 2024