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Sep 30, 2023
Martin Marietta Q3 2023 Earnings Report
Reported record quarterly consolidated revenues, profitability, and margins, driven by disciplined execution of value-over-volume strategy.
Key Takeaways
Martin Marietta reported record quarterly results for nearly every financial and operational measure. The company's performance was driven by disciplined execution of their value-over-volume commercial strategy.
Achieved record quarterly consolidated revenues, profitability and margins.
Aggregates gross profit per ton increased 42.4 percent to $7.89.
Robust earnings growth reinforces benefits of value-over-volume strategy.
Raised Adjusted EBITDA Guidance.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Aggregates shipments are expected to be relatively flat, as strong demand from public infrastructure and heavy nonresidential projects of scale will partially offset an anticipated softening in the interest-rate sensitive, private light nonresidential and residential sectors. The Company anticipates low double-digit aggregates pricing growth as carryover effects from 2023 together with January 1, 2024 price increases will offset continued inflationary pressure from the recent acceleration in energy-related costs.
Positive Outlook
- Strong demand from public infrastructure projects
- Strong demand from heavy nonresidential projects
- Low double-digit aggregates pricing growth
- Carryover effects from 2023 pricing
- January 1, 2024 price increases
Challenges Ahead
- Softening in private light nonresidential sector
- Softening in residential sectors
- Interest-rate sensitive markets
Historical Earnings Impact
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Avg. Return Before/After Earnings
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