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Sep 30, 2021
Martin Marietta Q3 2021 Earnings Report
Achieved record consolidated and aggregates revenues and gross profit, growing product demand experienced enterprise-wide.
Key Takeaways
Martin Marietta reported record revenues, gross profit, and Adjusted EBITDA (excluding nonrecurring gains in Q3 2020) and EPS. These results were driven by organic shipment growth, pricing gains, and acquisitions, offsetting higher energy-related costs.
Established new quarterly records for revenues, gross profit, Adjusted EBITDA and earnings per diluted share.
Strong quarterly results were primarily driven by organic shipment growth, pricing gains and value-enhancing acquisitions, which more than offset higher energy-related costs.
Acquisition of Lehigh Hanson, Inc.’s West Region business (“Lehigh West Region”), which further enhanced our pipeline of growth opportunities and deep bench of talent at Martin Marietta.
Focus remains on building the safest, best performing and most durable aggregates-led public company.
Martin Marietta
Martin Marietta
Martin Marietta Revenue by Segment
Martin Marietta Revenue by Geographic Location
Revenue by Segment
Magnesia Specialties Revenue
CapyFin.comRevenue by Geographic Location
East Group Revenue
CapyFin.comWest Group Revenue
CapyFin.com Forward Guidance
Full-year 2021 guidance has been updated to reflect the Company’s year-to-date performance, continuing energy-related cost headwinds, and expected contributions from acquisitions closed in the fourth quarter.
Positive Outlook
- Consolidated Products and services revenues between $4,955 million and $5,050 million
- Adjusted EBITDA between $1,500 million and $1,550 million
- Aggregates Organic volume % growth between 1.0% and 3.0%
- Organic average selling price per ton (ASP) % growth between 2.5% and 3.5%
- Magnesia Specialties Business Products and services revenues between $260 million and $270 million
Challenges Ahead
- Gross profit between $1,330 million and $1,380 million
- Selling, general and administrative expenses (SG&A) between $340 million and $345 million
- Interest expense between $140 million and $145 million
- Estimated tax rate (excluding discrete events) between 20% and 22%
- Capital expenditures between $475 million and $525 million