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Mar 31, 2020
Martin Marietta Q1 2020 Earnings Report
Delivered strong financial and operational performance, generating Adjusted EBITDA of $149 million and established a new first-quarter record for consolidated revenues.
Key Takeaways
Martin Marietta reported strong first-quarter results with a new record for consolidated revenues. The company's Building Materials business saw improved shipments and pricing. They strengthened their balance sheet through a debt offering but withdrew full-year 2020 guidance due to COVID-19 uncertainty.
Established a new first-quarter record for consolidated revenues.
Shipments and pricing increased across the majority of the Building Materials business.
Cement and Magnesia Specialties delivered first-quarter margin expansion.
Strengthened balance sheet through long-term debt offering in early March.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company has withdrawn its 2020 full-year guidance issued on February 11, 2020, given the economic disruptions driven by the COVID-19 pandemic.
Positive Outlook
- Infrastructure construction is expected to be the most near-term resilient.
- Most state Departments of Transportation (DOTs) are currently operational and continue to advance transportation projects.
- Nonresidential construction activity on existing projects has continued in most regions.
- Warehouses, distribution centers and data centers are expected to perform relatively well in the current environment.
- Large energy-sector projects along the Gulf Coast of Texas that are actively underway are expected to continue.
Challenges Ahead
- Economic disruptions driven by the COVID-19 pandemic.
- Commercial projects in the design or planning stages are being delayed or canceled.
- Residential construction activity is expected to decline in 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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