Martin Marietta reports record Q3 revenue $1.99B, EPS $6.94; raises EBITDA guidance

MARTIN MARIETTA MATERIALS INC

2023-Q3 EPS reported $14.27 revenue$5,169,000,000

Record Q3 revenue $1,994M (+10% YoY); net earnings $430M ($6.94 diluted EPS) vs $291M ($4.67) prior year.
Aggregates gross profit per ton rose 42.4% to $7.89; pricing up 20% despite 7.3% shipment decline.
Closed sale of Tehachapi cement plant for $315M on Oct 31; proceeds earmarked for aggregates acquisitions.
Raised full-year 2023 Adjusted EBITDA guidance to $2.05-2.15B; net earnings guidance $1.095-1.195B.
Preliminary 2024 view: aggregates shipments flat, low double-digit pricing growth; demand from infrastructure and manufacturing.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

MARTIN MARIETTA MATERIALS INC reported third quarter ended September 30, 2023 results: revenue 1,994.1, net income 430.3, EPS 6.94.

Period: third quarter ended September 30, 2023
Revenue: 1,994.1
Net income: 430.3
EPS: 6.94
Result: reported results

Exact text from the filing

Martin Marietta Materials, Inc. (NYSE: MLM) (“Martin Marietta” or the “Company”), a leading national supplier of aggregates and heavy building materials, today reported results for the third quarter ended September 30, 2023. Third-Quarter Highlights (Financial highlights are for continuing operations) Quarter Ended September 30, (In millions, except per share) 2023 2022 % Change Total revenues 1 $ 1,994.1 $ 1,811.7 10.1% Gross profit $ 676.0 $ 487.8 38.6% Earnings from operations $ 566.6 $ 405.9 39.6% Net earnings from continuing operations attributable to Martin Marietta $ 430.3 $ 291.2 47.8% Adjusted EBITDA 2 $ 705.2 $ 533.1 32.3% Earnings per diluted share from continuing operations $ 6.94 $ 4.67 48.6%

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Source: SEC EDGAR

accession 0000950170-23-057122

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