Loading...
•
Dec 31, 2019
Martin Marietta Q4 2019 Earnings Report
Martin Marietta achieved record revenues, profits, and adjusted EBITDA for the full year, driven by improved shipments and pricing for aggregates, cement, and asphalt.
Key Takeaways
Martin Marietta reported strong Q4 2019 results, concluding the most profitable year in the company's history. The company saw improvements in shipments, pricing, and profitability across the Building Materials business. Total revenues reached $1.10 billion, with net earnings attributable to Martin Marietta at $131.0 million, or $2.09 per diluted share.
Achieved eighth consecutive year of growth for revenues, gross profit, adjusted EBITDA and earnings per diluted share.
Aggregates shipments and pricing improved 4.0 percent and 5.3 percent, respectively.
Cement shipments increased 22.3 percent, driven by strong underlying Texas demand.
The company repurchased 154,500 shares of common stock during the fourth quarter 2019.
Revenue by Segment
Forward Guidance
Martin Marietta is confident in its 2020 outlook, expecting steady and sustainable construction growth, driven by infrastructure, nonresidential, and residential markets.
Positive Outlook
- Infrastructure construction is expected to benefit from lettings and contract awards in key Martin Marietta states, continued FAST Act funding, and regulatory reform.
- Nonresidential construction is expected to increase in both the commercial and heavy industrial sectors across many of the Company’s key markets.
- Residential construction is expected to continue growing within Martin Marietta’s geographic footprint, particularly as mortgage rates remain attractive.
- Permit growth for single-family and multi-family housing units remains healthy in Martin Marietta’s top ten states.
- Continued strength in residential construction supports future infrastructure and nonresidential activity.
Challenges Ahead
- The performance of the United States economy.
- Shipment declines resulting from economic events beyond the Company’s control.
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
Loading earnings performance data...
Loading earnings reaction data...