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Dec 31, 2022
Martin Marietta Q4 2022 Earnings Report
Martin Marietta reported Q4 2022 earnings, establishing full-year records for revenues, profitability, and safety performance. Accelerating pricing momentum and margin expansion were achieved in the fourth quarter, underpinning 2023 Adjusted EBITDA guidance.
Key Takeaways
Martin Marietta reported record financial results for Q4 2022, driven by disciplined execution of its strategic plan and focus on controllable factors. The company achieved an all-time quarterly record of aggregates pricing growth, positioning it well for another record year in 2023.
Delivered increased products and services revenues, gross profit and Adjusted EBITDA for the eleventh consecutive year.
Achieved record financial results and world-class safety incidence rates.
Expanded aggregates margins and increased gross profit per shipped ton by 25 percent over the prior-year quarter.
Expect full year 2023 aggregates shipments to be relatively flat but confident in ability to continue to deliver accelerated margin expansion.
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
The Company’s 2023 guidance excludes businesses classified as discontinued operations.
Positive Outlook
- Consolidated Products and services revenues between $6,180 and $6,370 million
- Net earnings from continuing operations attributable to Martin Marietta between $880 and $990 million
- Adjusted EBITDA between $1,800 and $1,900 million
- Aggregates Volume % growth between (2.0)% and 2.0 %
- ASP % growth between 13.0 % and 15.0 %
Challenges Ahead
- Interest expense between $165 and $170 million
- Estimated tax rate (excluding discrete events) between 21 % and 22 %
- Capital expenditures between $575 and $625 million
- Aggregates Volume % growth between (2.0)% and 2.0 %
- ASP % growth between 13.0 % and 15.0 %