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Mar 31, 2023
Martin Marietta Q1 2023 Earnings Report
Achieved record first-quarter results for revenues, profitability, and unit margins, driven by pricing actions and strong execution.
Key Takeaways
Martin Marietta reported a remarkable start to the year with record first-quarter results across various measures. The company saw robust margin expansion due to prior pricing actions, despite inflationary pressures and slightly lower aggregates shipments. They achieved a record for aggregates pricing growth and a substantial increase in aggregates gross profit per ton.
Achieved record first-quarter revenues, profitability, and unit margins.
Aggregates gross profit per ton increased significantly due to pricing actions.
Solid near-term product demand driven by infrastructure and heavy nonresidential projects.
Confident in expanding margins throughout the year and delivering compelling full-year financial results.
Revenue by Geographic Location
Forward Guidance
The Company’s 2023 guidance excludes businesses classified as discontinued operations. Forecasting $1.9 Billion of 2023 Adjusted EBITDA Consistent with the High End of Guidance Range.
Positive Outlook
- Consolidated Total revenues between $6,600 and $6,815 millions
- Aggregates Volume % growth between (2.0)% and 2.0 %
- ASP % growth between 13.0 % and 15.0 %
- Gross profit between $1,225 and $1,295 millions
- Adjusted EBITDA between $1,800 and $1,900 millions
Challenges Ahead
- Interest expense between $165 and $170 millions
- Estimated tax rate (excluding discrete events) between 21 % and 22 %
- Net earnings from continuing operations attributable to Martin Marietta between $880 and $990 millions
- Capital expenditures between $575 and $625 millions
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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