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Mar 31, 2025
Martin Marietta Q1 2025 Earnings Report
Pricing Momentum, Cost Discipline and Acquisition Contributions Drive Margin Expansion
Key Takeaways
Martin Marietta reported a strong start to 2025 with record first-quarter consolidated gross profit, gross margin, Adjusted EBITDA, and Adjusted EBITDA margin, driven by pricing momentum, cost discipline, and acquisition contributions. Infrastructure demand remains a key driver, with expectations for continued growth supported by federal and state investments.
Consolidated revenues increased 8% to $1.35 billion.
Aggregates gross profit per ton increased over 16%, driving record aggregates profitability.
Magnesia Specialties business achieved record revenues and profitability.
Infrastructure demand is expected to grow in 2025, supported by IIJA funds and potential reauthorization of surface transportation programs.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company's full-year 2025 outlook remains unchanged, anticipating revenue between $6.83 billion and $7.23 billion and Adjusted EBITDA between $2.15 billion and $2.35 billion.
Positive Outlook
- Aggregates volume growth is expected between 2.5% and 5.5%.
- Aggregates average selling price growth is expected between 5.5% and 7.5%.
- Expected growth in infrastructure construction activity due to IIJA funding.
- Anticipated recovery in warehouse construction.
- Strong performance expected from the Magnesia Specialties business.
Challenges Ahead
- Uncertain macroeconomic backdrop.
- Residential affordability headwinds are not expected to abate near term.
- Potential volatility from tariff-related impacts (though not assumed in guidance).
- Risks related to the level and timing of federal and state project funding.
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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