Martin Marietta said aggregates shipments fell 12.3% from the prior-year quarter, and aggregates average selling price rose to $22.26, up 12.2% (12.7% on an organic mix-adjusted basis). The company said aggregates gross profit improved modestly to $239 million. The quarter is Q1 2024.

10-QQuarterly reportFiled Apr 30, 2024Period of report Mar 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

Martin Marietta said aggregates shipments fell 12.3% from the prior-year quarter, and aggregates average selling price rose to $22.26, up 12.2% (12.7% on an organic mix-adjusted basis). The company said aggregates gross profit improved modestly to $239 million. The quarter is Q1 2024.
The company said it recognized a $1.3 billion pretax gain in February 2024 on the divestiture of the South Texas cement business and certain related ready mixed concrete operations (the Divestiture). The gain was partially offset by a $49 million pretax, noncash asset and portfolio rationalization charge (the Rationalization Charge).
The company said net earnings from continuing operations attributable to Martin Marietta were $1.0 billion, or $16.87 per diluted share, in Q1 2024, compared with $134 million, or $2.16 per diluted share, in the prior-year quarter. Results for 2024 included an after-tax gain of $976 million, or $15.75 per diluted share, on the Divestiture.
Martin Marietta said it used $2.05 billion of the cash on hand at March 31, 2024 to fund the acquisition of 20 active aggregates operations in Alabama, South Carolina, South Florida, Tennessee and Virginia from affiliates of Blue Water Industries LLC on April 5, 2024. As of March 31, 2024, the company had $1.20 billion of unused borrowing capacity under its Revolving Facility and Trade Receivable Facility.

Key figures

Quarter ended March 31, 2024

Revenue: $1.3B
Operating income: $1.4B
Net income: $1.0B
EPS: $16.87
Gross profit: $272M
Operating cash flow: $172M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q1 aggregates shipments down 12.3%, average selling price $22.26

Martin Marietta said aggregates shipments fell 12.3% from the prior-year quarter, and aggregates average selling price rose to $22.26, up 12.2% (12.7% on an organic mix-adjusted basis). The company said aggregates gross profit improved modestly to $239 million. The quarter is Q1 2024.

Source · Based on the MD&A text of the filing

$1.3 billion gain tied to South Texas cement divestiture

The company said it recognized a $1.3 billion pretax gain in February 2024 on the divestiture of the South Texas cement business and certain related ready mixed concrete operations (the Divestiture). The gain was partially offset by a $49 million pretax, noncash asset and portfolio rationalization charge (the Rationalization Charge).

Source · Based on the MD&A text of the filing

Q1 continuing operations net earnings $1.0 billion, $16.87 per diluted share

The company said net earnings from continuing operations attributable to Martin Marietta were $1.0 billion, or $16.87 per diluted share, in Q1 2024, compared with $134 million, or $2.16 per diluted share, in the prior-year quarter. Results for 2024 included an after-tax gain of $976 million, or $15.75 per diluted share, on the Divestiture.

Source · Based on the MD&A text of the filing

Cash use of $2.05 billion for Blue Water Industries acquisition

Martin Marietta said it used $2.05 billion of the cash on hand at March 31, 2024 to fund the acquisition of 20 active aggregates operations in Alabama, South Carolina, South Florida, Tennessee and Virginia from affiliates of Blue Water Industries LLC on April 5, 2024. As of March 31, 2024, the company had $1.20 billion of unused borrowing capacity under its Revolving Facility and Trade Receivable Facility.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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