Martin Marietta Q1 earnings beat with record revenues, adj. EBITDA $324M; guidance at high end

MARTIN MARIETTA MATERIALS INC

2023-Q1 EPS reported $1.95 revenue$1,354,100,000

Q1 total revenues $1.354B (+10% YoY); EPS $2.16 vs $0.39; record aggregates gross profit per ton $5.70.
Aggregates pricing +22.6% (record); volume -0.8% due to California weather; gross margin expanded 1250bps to 26.1%.
Cement pricing +32.2% (record); shipments -6.8% due to Texas weather; gross profit +75.4% to $47.1M, gross margin 28.0%.
2023 guidance: adjusted EBITDA $1.8-1.9B (consistent with high end); aggregates ASP growth 13-15%.
Terminated sale of Tehachapi cement plant to CalPortland; divested California cement import operations on May 3, 2023.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MARTIN MARIETTA MATERIALS INC reported first quarter ended March 31, 2023 results: revenue Total revenues ... $ 1,354.1 ... $ 1,230.8, net income Net earnings from continuing operations attributable to Martin Marietta $ 134.3 $ 24.5, EPS Earnings per diluted share from continuing operations $ 2.16 $ 0.39. Guidance reaffirmed.

Period: first quarter ended March 31, 2023
Revenue: Total revenues ... $ 1,354.1 ... $ 1,230.8
Net income: Net earnings from continuing operations attributable to Martin Marietta $ 134.3 $ 24.5
EPS: Earnings per diluted share from continuing operations $ 2.16 $ 0.39
Guidance: reaffirmed
Result: reported results

Exact text from the filing

2023. First-Quarter Highlights (Financial highlights are for continuing operations) Quarter Ended March 31, (In millions, except per share) 2023 2022 % Change Total revenues 1 $ 1,354.1 $ 1,230.8 10.0% Gross profit $ 302.8 $ 156.1 94.0% Earnings from operations $ 196.1 $ 59.9 227.4% Net earnings from continuing operations attributable to Martin Marietta $ 134.3 $

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Source: SEC EDGAR

accession 0000950170-23-017447

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