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Jun 30, 2021
Martin Marietta Q2 2021 Earnings Report
Reported record second-quarter consolidated revenues, gross profit, and earnings per diluted share.
Key Takeaways
Martin Marietta reported record second-quarter consolidated revenues, gross profit, and earnings per diluted share, driven by strengthening product demand and pricing gains across all product lines. The company successfully advances SOAR 2025 and expects to close Lehigh West Region Acquisition in the second half of 2021.
Established new quarterly records for revenues, profits and safety.
Experienced project delays in Texas and Colorado due to significant rainfall.
Completed the acquisition of Minnesota-based Tiller Corporation.
Anticipates single-family housing growth, expanded infrastructure investment and notable heavy industrial projects of scale will drive increased shipment levels.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Martin Marietta updated its full-year 2021 guidance to reflect recent trends and the contribution of the Tiller acquisition. This guidance excludes any benefit from additional fiscal stimulus, relief funds beyond those already enacted or a potential successor federal surface transportation bill.
Positive Outlook
- Favorable pricing dynamics will continue, supported by the Company’s locally-driven pricing strategy.
- Single-family housing growth will drive increased shipment levels.
- Expanded infrastructure investment will drive increased shipment levels.
- Notable heavy industrial projects of scale will drive increased shipment levels.
- Potential for increased infrastructure investment from a comprehensive federal surface transportation package, to result in sustained, multi-year growth in product demand.
Challenges Ahead
- Ability of the Company to face challenges, including those posed by the COVID-19 pandemic and implementation of any such related response plans.
- Fluctuations in COVID-19 cases in the United States and the extent that geography of outbreak primarily matches the regions in which the Company’s Building Materials business principally operates.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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