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RALEIGH - On Thursday, Martin Marietta Materials, Inc. (NYSE:MLM) reported second-quarter earnings that exceeded analyst expectations, as strong pricing and cost management drove record quarterly aggregates revenues and profitability despite slightly lower shipment volumes.
The company’s stock edged up 0.33% in after hours trading following the results.
The building materials supplier posted adjusted earnings of $5.43 per share, beating the analyst estimate of $5.35. Revenue rose 3% YoY to $1.81 billion, though this fell short of the $1.89 billion consensus estimate.
"Our Company’s second-quarter performance is a testament to the value-added benefits of our geography and durable products," said Ward Nye, Chair and CEO of Martin Marietta. "As a result, we established record quarterly aggregates revenues and second-quarter records for aggregates profitability, Adjusted EBITDA and Adjusted EBITDA margin."
Aggregates shipments decreased 0.6% to 52.7 million tons due to softening demand in Colorado and wet weather, while average selling price increased 7.4% to $23.21 per ton. This pricing strength helped drive a 9% increase in aggregates gross profit to $430 million, with gross margin expanding to 33%.
The company’s Magnesia Specialties business achieved record quarterly revenues of $90 million, with gross profit increasing 32% to $36 million.
Martin Marietta raised its full-year 2025 Adjusted EBITDA guidance to $2.30 billion at the midpoint, citing strong first-half performance, acquisition contributions, and current shipment trends. The company now expects annual revenue between $6.82 billion and $7.12 billion.
The company also announced two strategic portfolio moves: the acquisition of Premier Magnesia, LLC, completed on July 25, and an asset exchange agreement with Quikrete Holdings, Inc. that will provide Martin Marietta with aggregates operations producing approximately 20 million tons annually, plus $450 million in cash.
"Martin Marietta’s resilient aggregates-led building materials business in economically and structurally advantaged markets, together with our highly complementary Magnesia Specialties business, provides enduring earnings strength through periods of demand cyclicality," Nye added.
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