The company said aggregates shipments for Q2 fell 2.8% from the prior-year quarter, while average selling price rose 11.6% to $21.61 and gross profit improved 6% to $392 million. The results reflected the $20 million Inventory Markup charge related to the BWI Southeast acquisition.

1. 01

   The company said aggregates shipments for Q2 fell 2.8% from the prior-year quarter, while average selling price rose 11.6% to $21.61 and gross profit improved 6% to $392 million. The results reflected the $20 million Inventory Markup charge related to the BWI Southeast acquisition.

2. 02

   The company said net earnings from continuing operations attributable to Martin Marietta for the 6 months of 2024 were $1.3 billion ($21.66 per diluted share), including an after-tax gain of $976 million ($15.79 per share) on the Divestiture. The comparable period in 2023 was $481 million ($7.76 per share).

3. 03

   The company said operating cash flow for the 6 months was $173 million, down from $519 million a year earlier, with the decrease driven by higher income tax payments tied to the Divestiture. On April 5, it used cash on hand of $2.05 billion to acquire 20 active aggregates operations from affiliates of Blue Water Industries LLC.

4. 04

   The company said it repurchased 785,758 shares of common stock in the first six months of 2024 at an average price of $572.70, for an aggregate cost of $450 million. It said 11.9 million shares remained under its repurchase authorization as of June 30. Unused borrowing capacity under the Revolving Facility and the Trade Receivable Facility was $1.20 billion on the same date.

Key figures

Quarter ended June 30, 2024

Revenue

$1.8B

Operating income

$398M

Net income

$294M

EPS

$4.76

Gross profit

$517M

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.

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

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.