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Bank of Nova Scotia acquired a new position in shares of Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,329 shares of the construction company’s stock, valued at approximately $3,650,000.

Other large investors also recently made changes to their positions in the company. CoreCap Advisors LLC grew its holdings in shares of Martin Marietta Materials by 370.0% during the second quarter. CoreCap Advisors LLC now owns 47 shares of the construction company’s stock valued at $27,000 after buying an additional 37 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Martin Marietta Materials by 67.9% in the 1st quarter. Meeder Asset Management Inc. now owns 47 shares of the construction company’s stock worth $28,000 after acquiring an additional 19 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Martin Marietta Materials in the 4th quarter worth about $31,000. Reflection Asset Management bought a new position in Martin Marietta Materials in the 4th quarter valued at about $35,000. Finally, Osterweis Capital Management Inc. bought a new position in Martin Marietta Materials in the 2nd quarter valued at about $37,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Stock Down 0.1% Martin Marietta Materials stock opened at $532.58 on Wednesday. The firm has a 50 day simple moving average of $567.14 and a 200 day simple moving average of $593.72. The company has a current ratio of 1.41, a quick ratio of 0.73 and a debt-to-equity ratio of 0.44. Martin Marietta Materials, Inc. has a 1-year low of $522.19 and a 1-year high of $710.97. The firm has a market capitalization of $31.99 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 2.30 and a beta of 1.11.

Martin Marietta Materials (NYSE:MLM – Get Free Report) last posted its earnings results on Thursday, July 30th. The construction company reported $5.00 earnings per share for the quarter, beating analysts’ consensus estimates of $4.76 by $0.24. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. Martin Marietta Materials had a return on equity of 9.49% and a net margin of 36.73%.The company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.43 EPS. On average, analysts predict that Martin Marietta Materials, Inc. will post 19.07 earnings per share for the current year. Martin Marietta Materials Increases Dividend The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be paid a $0.84 dividend. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.83. This represents a $3.36 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 1st. Martin Marietta Materials’s payout ratio is currently 8.16%.

Wall Street Analysts Forecast Growth Several brokerages recently issued reports on MLM. Wall Street Zen cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Tuesday, July 28th. DA Davidson assumed coverage on Martin Marietta Materials in a research report on Monday. They issued a “neutral” rating and a $625.00 price target for the company. UBS Group dropped their price objective on Martin Marietta Materials from $739.00 to $715.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Citigroup cut their price objective on shares of Martin Marietta Materials from $737.00 to $690.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Finally, Stephens reduced their target price on shares of Martin Marietta Materials from $700.00 to $680.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Ten investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Martin Marietta Materials has an average rating of “Moderate Buy” and an average target price of $665.29.

Get Our Latest Stock Analysis on Martin Marietta Materials

Martin Marietta Materials Company Profile (Free Report)

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.

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Bank of New York Mellon Corp purchased a new position in Martin Marietta Materials, Inc. (NYSE: MLM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 345,624 shares of the construction company's stock, valued at approximately $199,321,000. Bank of New York Mellon Corp

Key Takeaways Martin Marietta's $13.5B Lhoist deal would add 20 facilities, 45 terminals and over 2B tons of reserves.The combined company is projected to generate $3.3B of adjusted EBITDA with a 36% margin.MLM expects 3.7X net leverage at closing and aims to reduce it below 2.5X within 24 months. Martin Marietta Materials, Inc. (MLM - Free Report) is pursuing its largest transaction to date with the proposed $13.5 billion combination with Lhoist North America. The deal would add scale in lime and limestone while extending the company beyond its core aggregates exposure.

The long-term opportunity is sizable, but so are the financing and integration demands. Investors must weigh a larger earnings and cash-flow base against higher leverage, execution risk and shareholder dilution.

MLM’s Lhoist Deal Expands Its Limestone PlatformMartin Marietta agreed on June 27 to combine with Lhoist North America in a transaction valued at approximately $13.5 billion. The consideration includes $7 billion in cash and $6.5 billion in stock, subject to customary adjustments.

Lhoist North America operates 20 quarries and production facilities and 45 distribution terminals. It also brings more than 2 billion tons of limestone reserves, adding long-lived mineral assets to Martin Marietta’s aggregates-led portfolio and expanding its upstream Specialties platform.

Martin Marietta Sees a Bigger Earnings Base After LhoistOn a 2026 pro forma basis, including run-rate synergies and New Frontier Materials, the combined business is indicated to generate about $3.3 billion of adjusted EBITDA from continuing operations compared with roughly $2.4 billion for Martin Marietta standalone. The indicated adjusted EBITDA margin rises to 36% from 33%.

Free-cash-flow conversion is indicated at 81% for the combined company compared with 76% standalone. That improvement is central to the strategic case because stronger cash conversion would help support deleveraging after closing while giving Martin Marietta more flexibility to reinvest across its expanded portfolio.

MLM’s Lhoist Exposure Broadens End-Market ReachThe transaction would broaden Martin Marietta’s exposure to industrial, infrastructure, manufacturing and environmental applications. Lhoist North America’s lime products serve markets including steel production, soil stabilization and water treatment, complementing Martin Marietta’s construction aggregates business.

The deal also fits a broader aggregates-led consolidation theme. Vulcan Materials Company (VMC - Free Report) , the nation’s largest producer of construction aggregates, remains centered on aggregates. CRH plc (CRH - Free Report) agreed in June to acquire Arcosa for about $8.5 billion, reinforcing its own U.S. aggregates platform and infrastructure exposure.

Martin Marietta Must Absorb Financing and Execution RiskThe cash component will increase the importance of balance-sheet management. Martin Marietta ended June with $112 million of unrestricted cash and $742 million of unused borrowing capacity, and it later secured a commitment for a new three-year, $1.5 billion senior unsecured term loan facility tied to the Lhoist transaction.

Management expects pro forma net leverage of about 3.7 times at closing and has stated a goal of reducing it below 2.5 times within 24 months. Risks include obtaining financing and regulatory approvals, integrating the businesses, realizing expected synergies and managing dilution from newly issued shares. The company’s existing 2026 adjusted EBITDA guidance of $2.36-$2.50 billion excludes Lhoist contributions.

MLM’s Mixed Style Scores Temper the Lhoist UpsideThe Lhoist transaction could strengthen Martin Marietta’s long-term earnings mix if the company realizes the expected synergies, cash conversion and end-market diversification. The near-term investment case is less straightforward because the deal introduces leverage and integration demands before those benefits are proven.

MLM currently carries a Zacks Rank #3 (Hold), a neutral near-term signal based on earnings estimate revisions. It has a Value Score of D, Growth Score of F, Momentum Score of F and VGM Score of F. Because the Zacks Style Scores are designed to complement the Zacks Rank, those weaker grades argue for balancing the transaction’s long-term potential against execution and valuation considerations rather than treating the deal as an automatic positive. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

 | Source:

Martin Marietta Materials, Inc.

RALEIGH, N.C., Aug. 13, 2026 (GLOBE NEWSWIRE) -- Martin Marietta Materials, Inc. (NYSE: MLM) (“Martin Marietta” or the “Company”) today announced that its Board of Directors approved an increase in its quarterly cash dividend, raising it from $0.83 per share to $0.84 per share on the Company’s outstanding common stock. This dividend, representing a cash dividend of $3.36 per share on an annualized basis, is payable September 30, 2026, to shareholders of record at the close of business on September 1, 2026.

Ward Nye, Chair, President and Chief Executive Officer, stated, “We are pleased to announce our eleventh consecutive annual dividend increase, reflecting Martin Marietta’s disciplined approach to capital allocation and commitment to delivering attractive long-term returns for shareholders. This dividend increase underscores the durability of our aggregates-led business, the strength of our cash flow generation and our confidence in the Company’s ability to perform through economic cycles. Supported by our proven strategy, leading market positions and enduring demand fundamentals, we remain well positioned to execute our strategic priorities and continue compounding shareholder value.”

Martin Marietta, a member of the S&P 500 Index, is an American-based company and a leading supplier of aggregates and other building materials. Through a network of operations spanning 29 states, Canada and The Bahamas, dedicated Martin Marietta teams supply the resources necessary for building the solid foundations on which our communities thrive. Martin Marietta’s Specialties business provides high-purity magnesia and dolomitic lime products used worldwide in environmental, industrial, agricultural and specialty applications. For more information, visit www.martinmarietta.com or www.magnesiaspecialties.com.

Investor Contact:
Jacklyn Rooker
Vice President, Investor Relations
(919) 510-4736
[email protected]

MLM-D

August 05, 2026 12:20 ET  | Source: Martin Marietta Materials, Inc.

RALEIGH, N.C., Aug. 05, 2026 (GLOBE NEWSWIRE) -- Martin Marietta Materials, Inc. (NYSE: MLM) (Martin Marietta or the Company), today announced that it has received all necessary regulatory approvals for its previously announced combination with Lhoist North America, Inc. (LNA). The transaction is now expected to close in the third quarter of 2026, subject to customary closing conditions.

About Martin Marietta

Martin Marietta, a member of the S&P 500 Index, is an American-based company and a leading supplier of aggregates and other building materials. Through a network of operations spanning 29 states, Canada and The Bahamas, dedicated Martin Marietta teams supply the resources necessary for building the solid foundations on which our communities thrive. Martin Marietta’s Specialties business provides high-purity magnesia and dolomitic lime products used worldwide in environmental, industrial, agricultural and other specialty applications. Upon completion of the LNA combination, Martin Marietta expects to become the nation’s leading producer of lime and limestone solutions. For more information, visit www.martinmarietta.com or www.magnesiaspecialties.com.

Investor Contacts:

Jacklyn Rooker
Vice President, Investor Relations
+1 (919) 510-4736
[email protected]

MLM-G.

This press release contains forward-looking statements under the federal securities laws, including the Private Securities Litigation Reform Act of 1995. These statements include: the expected timing for completing the transaction. These statements involve risks and uncertainties and are based on assumptions that the Company believes are reasonable, but which may differ materially from actual results, including, among others, risks and uncertainties relating to the timing of consummation of the transaction; the risk that the conditions to closing of the transaction may not be satisfied, or that the closing of the transaction does not occur. These statements reflect the Company’s current expectations or forecasts of future events. You can identify these statements because they do not relate only to historical or current facts and may use words such as “guidance”, “anticipate”, “may”, “expect”, “should”, “believe”, “will”, and other words of similar meaning in connection with future events or future performance. Any or all of the Company’s forward-looking statements herein and in other publications may prove to be incorrect.

A further list and description of risks, uncertainties and other matters can be found in Martin Marietta’s Annual Report on Form 10-K for the year ended December 31, 2025 and in Martin Marietta’s subsequent reports on Form 10-Q, including the sections thereof captioned “Other Matters” and “Item 1A. Risk Factors”, and in Martin Marietta’s subsequent reports on Form 8-K. Except as required by law, Martin Marietta does not undertake any obligation to publicly update any forward-looking statements whether as a result of new information, future events, changed circumstances or otherwise.

3 Stocks Helping Build Tomorrow's Data CentersMartin Marietta Materials NYSE: MLM reported record second-quarter revenue and adjusted EBITDA, supported by infrastructure and heavy non-residential construction demand, contributions from acquisitions and operating-cost discipline. The company raised its full-year revenue outlook while maintaining its adjusted EBITDA guidance, citing continued energy-cost pressure.

Chair, President and Chief Executive Officer Ward Nye said the quarter reflected favorable demand in infrastructure and heavy non-residential markets, as well as disciplined execution across the company. He also highlighted the May acquisition of New Frontier Materials, a bolt-on aggregates business along Missouri’s I-70 corridor, and the pending combination with Lhoist North America Inc.

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3 Construction Stocks Set to Surge on Tariff-Driven Demand“Martin Marietta delivered another strong quarter, highlighted by record Q2 revenues and adjusted EBITDA,” Nye said.

Aggregates Revenue Rises as Acquisitions Add Volume Senior Vice President and Chief Financial Officer Michael Petro said the company’s core aggregates business generated record revenue of $1.5 billion, up 16% from the prior-year period. Organic shipments increased 2.3%, while total shipments rose 17% to 61.6 million tons, benefiting from the acquired Quikrete assets and a partial-quarter contribution from New Frontier Materials.

Eagle Materials Stock is Dipping, Results Say Not for LongAverage selling prices decreased 2% on a reported basis, reflecting geographic and acquisition mix, but rose 3.7% organically after adjustments for geographic mix. Petro said the New Frontier acquisition’s lower average selling prices will create a more pronounced headwind to reported pricing in the second half because the business will be included for the full period.

Organic cost of goods sold per ton increased 3.6%, including a 150-basis-point impact from higher pass-through external freight costs. Excluding that freight impact, Petro said controllable cost growth was below the company’s implied 3% guidance level. Nye said that, absent energy-cost increases, cost of goods sold would have been flat during the quarter.

Reported aggregates gross profit was $418 million, affected by a $52 million non-cash inventory step-up charge and $42 million in higher depreciation, depletion and amortization expense. Management said most fair-value inventory charges are now behind the company, which should allow reported results to better reflect underlying business economics in the second half.

Specialties Business Posts Record Results Martin Marietta’s specialties segment reported record quarterly revenue of $152 million and gross profit of $50 million. The results included contributions from the July 2025 Premier Magnesia acquisition and organic pricing gains across products.

Petro pointed to the company’s Woodville, Ohio, lime plant as an illustration of lime’s demand resilience. He said Woodville’s shipments declined 7% during the financial crisis, compared with a 37% decline in U.S. aggregates industry volumes. In the second quarter, Woodville average selling prices rose 4%, or 5% after adjusting for mix, while shipments increased 1%, resulting in 7% gross-profit growth to a record level despite energy-related cost inflation.

Management said the pending Lhoist North America combination would expand Martin Marietta’s upstream specialties platform. Lhoist is described as the nation’s leading producer of lime and industrial mineral products, with 20 quarries and production facilities and 45 distribution terminals. Its products are used in steel production, soil stabilization, water treatment, flue-gas treatment and other industrial applications.

Nye said the transaction is complementary to Martin Marietta’s existing operations, noting that the company already has nearly 200 heritage limestone quarries. He said Lhoist’s Sun Belt footprint and market positions could support exposure to domestic manufacturing, steel capacity growth, data-center construction and infrastructure activity.

Company Raises Revenue Outlook, Maintains EBITDA Guidance Martin Marietta raised its 2026 revenue guidance to a range of $7.2 billion to $7.4 billion. It reaffirmed adjusted EBITDA from continuing operations guidance of $2.36 billion to $2.5 billion. The outlook does not include contributions from the pending Lhoist transaction, which management said it will address after closing.

Petro said higher expected contributions from New Frontier Materials are expected to largely offset continued elevated diesel costs. Management expects organic volumes to trend toward the high end of its original guidance range, while organic pricing is expected toward the low end due to mix effects.

The company said pricing realization should be strong in New Frontier and Quikrete markets following midyear increases. It also completed the enterprise-wide rollout of its PreciseIQ mobile quoting application and pricing algorithm in June, which Nye said is intended to improve customer responsiveness, pricing precision and consistency in commercial execution.

Year-to-date organic aggregates volumes increased 4.3%, according to management. Data-center activity in Martin Marietta’s markets was up 90%, Nye said. Power-related activity was up 23%, while warehousing activity increased 53% year to date, according to Nye. More than 70% of planned or under-construction data-center and manufacturing square footage is located within 55 miles of a Martin Marietta facility, based on Dodge Construction Network data cited by the company. Cash-Flow Initiatives and Capital Allocation Management said its SOAR 2030 program has identified approximately $350 million of run-rate pre-tax cash-flow improvement opportunities through asset utilization, network optimization and lower sustaining capital requirements. The company said inventory management and lower capital spending generated more than $200 million in cash-flow benefits through the first half of the year.

Nye said the $350 million target is currently viewed as an exit-rate figure for 2027 and could ultimately be increased as network-optimization efforts expand. He cited a pilot program in Denver as the model for broader implementation across the company’s operations.

Since 2022, Martin Marietta has divested more than $525 million of EBITDA associated with cement and ready-mix concrete assets and redeployed proceeds into aggregates and specialties businesses, Petro said. Despite those divestitures, the company expects adjusted EBITDA to compound at approximately 10% annually over the five years ending in 2026.

Regarding the pending Lhoist deal, Petro said the company expects to maintain an investment-grade balance sheet and de-lever to its target range within 24 months after closing. Nye said the transaction would not change Martin Marietta’s commitment to pursuing aggregates bolt-on acquisitions.

Infrastructure Demand Remains a Key Support Nye said infrastructure remains the company’s most durable and visible source of aggregates demand. While he expects a short-term extension of the current federal surface transportation authorization to be likely, he said it should not materially affect project activity or funding flows.

Martin Marietta cited elevated state transportation revenues and more than $150 billion of federal infrastructure funding that has yet to be invested. Nye said he expects policymakers to preserve program continuity while they negotiate a broader multiyear transportation measure, potentially by year-end.

The company also reported its best first-half safety performance in its history, measured by total injury and lost-time incident rates. Nye said safety remains the company’s most important measure of success.

About Martin Marietta Materials (NYSE:MLM)Martin Marietta Materials, Inc NYSE: MLM is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Martin Marietta Materials, Inc. (MLM) Q2 2026 Earnings Call Transcript

Martin Marietta (MLM - Free Report) came out with quarterly earnings of $5 per share, beating the Zacks Consensus Estimate of $4.62 per share. This compares to earnings of $5.43 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +8.23%. A quarter ago, it was expected that this seller of granite, limestone, sand and gravel would post earnings of $1.76 per share when it actually produced earnings of $1.93, delivering a surprise of +9.66%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Martin Marietta, which belongs to the Zacks Building Products - Concrete and Aggregates industry, posted revenues of $1.95 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 4.30%. This compares to year-ago revenues of $1.81 billion. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Martin Marietta shares have lost about 8.5% since the beginning of the year versus the S&P 500's gain of 6.9%.

What's Next for Martin Marietta?While Martin Marietta has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Martin Marietta was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $7.14 on $2.11 billion in revenues for the coming quarter and $19.43 on $7.1 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products - Concrete and Aggregates is currently in the bottom 20% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Rayonier (RYN - Free Report) , another stock in the broader Zacks Construction sector, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5.

This forest products company is expected to post quarterly earnings of $0.06 per share in its upcoming report, which represents no change from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 38.9% higher over the last 30 days to the current level.

Rayonier's revenues are expected to be $340.3 million, up 219.5% from the year-ago quarter.

Second-Quarter Revenues Increase 21% to New Record

Operational Efficiency Opportunities Expected to Drive $350 Million of Cash Flow Benefits

Raises Full-Year 2026 Revenues Guidance and Reaffirms Adjusted EBITDA Guidance

RALEIGH, N.C., July 30, 2026 (GLOBE NEWSWIRE) -- Martin Marietta Materials, Inc. (NYSE: MLM) (Martin Marietta or the Company), a leading national supplier of aggregates and other building materials, today reported results for the second quarter ended June 30, 2026.

Second-Quarter Highlights
(Financial highlights are for continuing operations)

 Quarter Ended June 30,(in millions, except per share and per ton data)2026  2025  % ChangeRevenues4$1,947  $1,609  21%Gross profit2$495  $496  (0)%Earnings from operations5$372  $413  (10)%Net earnings from continuing operations attributable to Martin Marietta6$256  $292  (12)%Adjusted EBITDA from continuing operations1$638  $565  13%Earnings per diluted share from continuing operations6$4.26  $4.84  (12)%Adjusted earnings per diluted share from continuing operations1$5.00  $4.84  3%        Aggregates product line       Shipments (tons) 61.6   52.7  17%Average selling price per ton (ASP)3$22.74  $23.21  (2)%Revenues$1,533  $1,320  16%Gross profit2$418  $430  (3)%Gross profit per ton2$6.78  $8.15  (17)%
1 Non-GAAP financial measures; see pages 14 and 16 for reconciliations to the nearest GAAP financial measures.
2 Quarter ended June 30, 2026, gross profit, aggregates gross profit and aggregates gross profit per ton included a charge of $52 million, $52 million and $0.84 per ton, respectively, for the impact of selling acquired inventory after markup to fair value as part of acquisition accounting.
3 Organic mix-adjusted ASP is 4 percent.

For additional notes, see page 13.

Ward Nye, Chair, President and CEO of Martin Marietta, stated, “Building on our positive trends entering 2026, Martin Marietta delivered record second-quarter revenues and Adjusted EBITDA from continuing operations. Revenues increased 21% and Adjusted EBITDA from continuing operations grew 13%, driven by strong organic performance and acquisition contributions. Infrastructure and heavy nonresidential construction activity across much of our footprint supported favorable shipment trends and underscored the earnings power and resilience of our business model. Most importantly, our team delivered the safest first half in the Company's history, as measured by Total Injury Incident and Lost-Time Incident Rates. Based on our strong first-half results and continued momentum, we are raising our full-year revenue guidance to a range of $7.2 billion to $7.4 billion and reaffirming our full-year Adjusted EBITDA from continuing operations guidance of $2.36 billion to $2.5 billion.

"The quarter was also notable for the announcement of several value creating transactions. Most significantly, and consistent with our strategic plan, on June 27, we entered into a definitive agreement to combine with Lhoist North America (LNA), the nation's leading producer of high-calcium lime, dolomitic lime and industrial mineral products. The planned combination advances our SOAR 2030 objective to expand our differentiated upstream Specialties platform, broadens our participation across infrastructure, manufacturing and industrial end markets and leverages our core quarrying and mineral resource management expertise. The transaction also establishes Martin Marietta as the nation's leading producer of limestone products and further enhances our portfolio of scarce, long-lived reserves. As the transaction has not yet closed, our revised 2026 guidance does not include any contribution from LNA.

"Additionally, on May 15 we completed the acquisition of New Frontier Materials (NFM), expanding our leading aggregates platform along the I-70 corridor. Together, these transactions further strengthen our portfolio by deepening our leadership position in aggregates while accelerating the planned expansion of our differentiated upstream Specialties platform.

"Beyond these portfolio actions, our expanded enterprise review identified opportunities that are expected to generate approximately $350 million of annualized cash flow improvements as we optimize our evolving asset base, network footprint, and sustaining capital requirements. Through disciplined inventory management and reductions in capital spending, we have unlocked more than $200 million of cash year-to-date compared with the prior-year period. Combined with our strong second-quarter organic cost performance, these actions reflect meaningful progress toward our efficiency and cash generation objectives."

Mr. Nye concluded, "Martin Marietta's portfolio today reflects years of disciplined investment and thoughtful portfolio shaping. As we advance our SOAR 2030 objectives, we remain focused on responsible capital allocation, enterprise excellence and preserving the financial flexibility that has long distinguished our Company. Supported by high-quality assets, extensive limestone and granite reserves and favorable long-term demand fundamentals, we believe Martin Marietta is uniquely positioned to compound shareholder value through disciplined execution, attractive growth and superior stewardship of our irreplaceable mineral resources."

Second-Quarter Financial and Operating Results

(All financial and operating results are for continuing operations and comparisons are versus the prior-year second quarter, unless otherwise noted)

Building Materials Business

Aggregates

Second-quarter aggregates shipments increased 17.0 percent to a record of 61.6 million tons, reflecting a full quarter of contributions from the operations acquired from Quikrete Holdings, Inc. (QUIKRETE), a partial-quarter of contributions from NFM and organic shipment growth of 2.3 percent driven by strong infrastructure and heavy nonresidential demand across our geographic footprint. ASP decreased 2.0 percent to $22.74 per ton, primarily reflecting acquisition-related mix headwinds. Organic ASP increased 2.1 percent and organic mix-adjusted ASP7 increased 3.7 percent, reflecting continued strong organic shipment momentum in the Central and West Divisions where average selling prices are below the Company's average.

Aggregates gross profit decreased 3 percent to $418 million, inclusive of the $52 million non-cash charge associated with the fair market value purchase accounting inventory step-up adjustments. Cost management efforts supported strong organic cost performance with cost of goods sold per ton increasing 3.6 percent, including 150 basis points from higher pass-through external freight costs.

Other Building Materials

Other Building Materials revenues increased 12 percent to $303 million while gross profit decreased 14 percent to $34 million. Gross profit declined due to higher ready mix concrete raw material costs combined with lower organic paving revenues and job margins.

Specialties Business

Specialties delivered revenues of $152 million and gross profit of $50 million, both quarterly records. These results reflected contributions from the July 2025 Premier Magnesia, LLC acquisition and organic pricing gains across all products.

The Company's lime business delivered 4.0 percent ASP growth, or 5.0 percent on a mix-adjusted8 basis, and 0.9 percent shipment growth resulting in gross profit growth of 7 percent.

Portfolio Optimization

On June 27, 2026, the Company entered into a definitive agreement to combine with LNA, a subsidiary of Lhoist Group, in a transaction valued at approximately $13.5 billion, consisting of cash and shares of Martin Marietta common stock. The transaction is expected to close in the second half of 2026, subject to regulatory approvals and other customary closing conditions. LNA is a leading producer of high-calcium lime, dolomitic lime and industrial mineral products serving diversified end markets through a network of 20 quarries and production facilities and 45 distribution terminals.

On May 15, 2026, the Company acquired NFM, a complementary aggregates-led bolt-on business serving the greater St. Louis metropolitan area producing over 8 million tons of aggregates annually.

Cash Generation, Capital Allocation and Liquidity

Cash provided by operating activities for the six months ended June 30, 2026, was $339 million, compared with $605 million for the prior-year period, primarily reflecting higher income tax payments related to the taxable gain recognized on the February 2026 divestiture of the Midlothian cement business and the Company's remaining Texas ready mix concrete operations in conjunction with the QUIKRETE asset exchange completed February 2026.

Cash paid for property, plant and equipment additions for the six months ended June 30, 2026, was $314 million.

During the six months ended June 30, 2026, the Company returned $302 million to shareholders through dividend payments and share repurchases. As of June 30, 2026, 10.7 million shares remained available under the current repurchase authorization.

As of June 30, 2026, the Company had $112 million of unrestricted cash and cash equivalents on hand and $742 million of unused borrowing capacity under its existing credit facilities.

On July 15, 2026, the Company secured a commitment for a new three-year senior unsecured term loan facility in an aggregate principal amount of $1.5 billion subject to consummation of the LNA acquisition and other customary conditions.

Non-GAAP Financial Information

This earnings release includes financial measures not prepared in accordance with United States generally accepted accounting principles (GAAP). Reconciliations of these non-GAAP financial measures to the most comparable GAAP measures are provided in the Appendix. Management believes these non-GAAP measures are widely used by investors to evaluate the Company’s performance and, when considered alongside the Company’s consolidated financial statements, offer valuable insight into the Company’s ongoing and expected business results. These measures also inform internal evaluations of overall business performance. Management recognizes that reported results are influenced by numerous factors, and the adjustments in non-GAAP measures may not reflect all such impacts. Additionally, these measures may not be comparable to similarly titled measures used by other companies.

Conference Call Information

Martin Marietta will discuss its second-quarter 2026 earnings results today, July 30, 2026, via a conference call and live webcast beginning at 10:00 a.m. Eastern Time. To participate, dial +1 (646) 307-1963 and enter conference ID 7217352. Participants are encouraged to dial in at least 15 minutes before the scheduled start time to ensure a timely connection. An on-demand replay will be posted to the Company's website approximately two hours after the conclusion of the live broadcast and will be available for one year. Access links for both the live and archived events, along with the Q2 2026 Supplemental Information, are available on the Investors section of the Company's website.

About Martin Marietta

Martin Marietta, a member of the S&P 500 Index, is an American-based company and a leading supplier of aggregates and other building materials. Through a network of operations spanning 29 states, Canada and The Bahamas, dedicated Martin Marietta teams supply the resources necessary for building the solid foundations on which our communities thrive. Martin Marietta’s Specialties business provides high-purity magnesia and dolomitic lime products used worldwide in environmental, industrial, agricultural and specialty applications. For more information, visit www.martinmarietta.com or www.magnesiaspecialties.com.

Investor Contact:

Jacklyn Rooker
Vice President, Investor Relations
+1 (919) 510-4736
[email protected]

MLM-E.

This earnings release contains forward-looking statements under the federal securities laws, including the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties and are based on assumptions that the Company believes are reasonable, but which may differ materially from actual results. These statements reflect the Company’s current expectations or forecasts of future events. You can identify these statements because they do not relate only to historical or current facts and may use words such as “guidance,” “anticipate,” “may,” “expect,” "could," “should,” “believe,” "estimate," "forecast," "intend," "outlook," "plan," "project," "schedule," “will,” and other words of similar meaning in connection with future events or future performance. Any or all of the Company’s forward-looking statements herein and in other publications may prove to be incorrect.

Second-quarter results and trends described in this release may not necessarily be indicative of the Company’s future performance. The Company’s outlook is subject to risks and uncertainties and is based on assumptions that the Company believes are reasonable but which may be materially different from actual results. Factors that the Company currently believes could cause actual results to differ materially from the forward-looking statements, including the outlook and 2026 Guidance, include, but are not limited to: the Company’s ability to address challenges, including shipment declines caused by economic and weather events beyond its control; a widespread decline in aggregates pricing, including reduced shipment volume negatively affecting price; the termination, capping, reduction or suspension of federal and/or state fuel tax(es) or other revenue related to public construction; the level and timing of federal, state or local transportation or infrastructure or public projects funding, including any issues arising from such budgets, particularly in Texas, North Carolina, Colorado, California, Georgia, Florida, South Carolina, Arizona, Iowa and Minnesota; the United States Congress’ inability to reach agreement internally or with the Executive Branch on policy affecting the federal budget; a prolonged Federal government shutdown; the ability of states or other entities to finance approved projects through tax revenues or alternative financing; construction spending levels in the Company’s markets; reductions in defense spending and impacts on construction activity on or near military bases; declines in energy-related construction due to changes in oil production or capital spending, particularly in Texas; sustained high mortgage interest rates and factors leading to a slowdown in private construction in some areas; unfavorable weather, including storms, hurricanes, wildfires, timing of seasons, drought, rainfall, or extreme temperatures affecting production schedules, shipment volumes, product/geographic mix and profitability; volatility in fuel and energy costs, including diesel, electricity, natural gas and consumables like steel, explosives, tires and conveyor belts, as well as natural gas for the Company’s Specialties business; increased raw materials costs, such as bitumen; rising costs of repair and supply parts; construction labor shortages and supply chain challenges; labor relations risks, such as unionization efforts, work stoppages or strikes; workforce demographics-related challenges in recruiting and retaining skilled employees, particularly for physically demanding roles in rural or less-populated areas; unexpected equipment failures, unscheduled maintenance, industrial accident or prolonged production disruption; resiliency and potential declines of the Company's construction end-use markets; potential impacts of disease outbreaks, epidemics, pandemics, or similar health threats, or fear of such events, and related economic/societal responses, affecting suppliers, customers, partners or employees; the performance of the overall United States economy; governmental regulation, including environmental laws and climate change regulations at state and federal levels; implementation of emissions taxes, carbon-pricing schemes, or stricter climate-related rules that could increase operating costs or restrict Specialties production; delays or difficulties in securing timely land use approvals or environmental permits amid changing regulatory expectations; increasing legal actions or public pressure related to environmental impact, emissions, or land use could result in reputational harm or financial liability; failure to meet evolving environmental, social, and governance (ESG) standards or investor benchmarks may affect access to capital or shareholder confidence; changes in external ESG ratings or methodologies could affect investor sentiment or index inclusion; increasing competition for water access or stricter water usage regulations could impact production, especially in drought-prone regions; outcomes of environmental or land-use proceedings, or increased costs associated with regulatory obligations, including site reclamation; elevated premiums or reduced coverage availability for property, casualty, or environmental liability could increase risk exposure; transportation availability and investment in rail infrastructure impacting the movement of materials especially to the Company’s Texas, Southeast and Gulf Coast markets, the movement of essential dolomitic lime to the Company’s Specialties plant in Manistee, Michigan and its customers, and the movement of magnesite from the Company's Specialties' Gabbs, Nevada facility to processing plants in North Carolina, Indiana and Pennsylvania and the Company's customers; increased transportation costs, including increases from energy price fluctuations, fuel surcharges, and compliance with tightening regulations, including water shipments; availability of trucks and licensed drivers for material transport; availability and cost of construction equipment in the United States; weakness in the steel industry markets served by the Company’s dolomitic lime products; geopolitical risks affecting costs, supply chain, oil and gas prices, including conflict zones such as Iran, Russia-Ukraine, Israel-Middle East and potential China-Taiwan tensions; trade disputes and tariffs impacting the U.S. economy; unplanned cost changes or customer realignments affecting earnings; dependence on information technology and automated systems; risks related to third-party vendors, including exposure to cybersecurity vulnerabilities or service outages; inflation pressures on production and interest costs; customer concentration in construction markets increasing the risk of potential losses on customer receivables; demand levels, production volumes, and cost management affecting operating leverage and profitability; risks related to the Company's pending LNA transaction, including the timing of consummation of the transaction; the ability to satisfy closing conditions, transaction costs or that the closing of the transaction does not occur; the risk that any regulatory approval required to complete the transaction is not obtained, or is obtained subject to conditions that are not anticipated or that the Company is not obligated to accept; the diversion of management time on transaction-related issues; global economic conditions; adverse industry conditions; the risk that the Securities Sale Agreement may be terminated, including in circumstances that would require the Company to pay a termination fee; the Company’s ability to obtain the financing on favorable terms or at all and the resulting increase in the Company’s indebtedness and potential effects on the Company’s credit ratings; the issuance of newly-issued shares of Martin Marietta common stock as consideration payable at the closing of the LNA Transaction and the resulting dilution to the Company’s existing shareholders; and potential business uncertainty, including changes to existing business relationships during the pendency of the transaction that could affect financial performance, integration challenges, market conditions, and the impact of the transaction on the Company's stakeholders; the possibility that acquisition synergies may not be realized as expected or within anticipated timeframes, potentially impacting profitability and debt covenant compliance; risks related to executive succession, retention and leadership development critical to strategy execution, including impacts from unexpected leadership changes; changes in tax laws or interpretations, including those related to acquisitions or divestitures, which could increase tax rates; violation of the Company’s debt covenants in the event of price and/or volume instability; new or revised accounting rules could impact financial reporting, asset valuations, or covenant compliance; challenges in implementing new technologies or automation systems could lead to inefficiencies, cost overruns, or operational disruptions; cybersecurity risks; downward pressure on the Company’s common stock price affecting goodwill impairment evaluations; potential credit rating downgrades to non-investment grade; and other risk factors listed from time to time in the Company’s SEC filings.

You should also review the risk factors discussed in Martin Marietta’s Annual Report on Form 10-K for the year ended December 31, 2025, the forthcoming Form 10-Q for the quarter ended June 30, 2026, and other periodic SEC filings. All forward-looking statements should be evaluated with these considerations in mind. Other risks and uncertainties not presently known or currently deemed immaterial may also affect the Company’s performance or the accuracy of forward-looking statements. The Company undertakes no obligation to update any such forward-looking statements.

 MARTIN MARIETTA MATERIALS, INC.
Unaudited Statements of Earnings
  Three Months Ended
 Six Months Ended
 June 30,
 June 30,
(in millions, except per share data)2026
 2025
 2026
 2025
Revenues$1,947  $1,609  $3,309  $2,771 Cost of revenues 1,452   1,113   2,504   1,960 Gross Profit 495   496   805   811 Selling, general and administrative expenses 116   104   249   230 Acquisition, divestiture and integration expenses 18   2   24   4 Other operating income, net (11)  (23)  (1)  (14)Earnings from Operations 372   413   533   591 Interest expense 59   57   115   113 Other nonoperating income, net (7)  (9)  (19)  (19)Earnings from continuing operations before income tax expense 320   365   437   497 Income tax expense 64   73   101   101 Earnings from continuing operations 256   292   336   396 (Loss) Earnings from discontinued operations, net of income tax (benefit) expense (5)  36   1,428   48 Consolidated net earnings 251   328   1,764   444 Less: Net earnings attributable to noncontrolling interests —   —   —   — Net Earnings Attributable to Martin Marietta$251  $328  $1,764  $444             Net Earnings (Loss) Attributable to Martin Marietta           Basic earnings per share from continuing operations$4.27  $4.85  $5.57  $6.54 Basic (loss) earnings per share from discontinued operations (0.09)  0.59   23.75   0.79 Total basic earnings per share attributable to common shareholders$4.18  $5.44  $29.32  $7.33             Diluted earnings per share from continuing operations$4.26  $4.84  $5.56  $6.52 Diluted (loss) earnings per share from discontinued operations (0.09)  0.59   23.71   0.79 Total diluted earnings per share attributable to common shareholders$4.17  $5.43  $29.27  $7.31             Weighted-Average Common Shares Outstanding           Basic 60.1   60.3   60.2   60.6 Diluted 60.2   60.4   60.3   60.7  MARTIN MARIETTA MATERIALS, INC.
Unaudited Reportable Segment* Financial Highlights
(Continuing Operations Only)
             Three Months Ended
 Six Months Ended
 June 30,
 June 30,
(in millions)2026
 2025
 2026
 2025
Revenues           East Group$972  $878  $1,807  $1,636 West Group 823   641   1,208   958 Total Building Materials business 1,795   1,519   3,015   2,594 Specialties 152   90   294   177 Total$1,947  $1,609  $3,309  $2,771             Earnings (Loss) from operations           East Group$295  $302  $525  $539 West Group 81   92   38   50 Total Building Materials business 376   394   563   589 Specialties 42   31   77   64 Total reportable segments 418   425   640   653 Corporate (46)  (12)  (107)  (62)Earnings from operations 372   413   533   591 Interest expense 59   57   115   113 Other nonoperating income, net (7)  (9)  (19)  (19)Earnings from continuing operations before income tax expense$320  $365  $437  $497 *In connection with the closing of the Quikrete asset exchange during the quarter ended March 31, 2026, the Company updated its reportable segments. As of March 31, 2026, the Building Materials business includes two reportable segments: East Group (comprised of the East and Southwest divisions) and West Group (comprised of the Central and West divisions). The Company has recast all comparative prior-period information presented in this earnings release to reflect the updated reportable segments. MARTIN MARIETTA MATERIALS, INC.
Unaudited Product Line Financial Highlights
(Continuing Operations Only)
  Three Months Ended
 Six Months Ended
 June 30,
 June 30,
(in millions)20262025
 20262025
Revenues           Building Materials           Aggregates$1,533  $1,320  $2,675  $2,322 Other Building Materials 303   271   420   393 Less: Interproduct sales (41)  (72)  (80)  (121)Total Building Materials business 1,795   1,519   3,015   2,594 Specialties 152   90   294   177 Total$1,947  $1,609  $3,309  $2,771             Gross profit (loss)           Building Materials           Aggregates$418  $430  $706  $726 Other Building Materials 34   39   18   21 Total Building Materials business 452   469   724   747 Specialties 50   36   95   74 Corporate (7)  (9)  (14)  (10)Total$495  $496  $805  $811             Depreciation, Depletion and Amortization*           Building Materials           Aggregates$166  $125  $298  $237 Other Building Materials 13   10   24   20 Total Building Materials business 179   135   322   257 Specialties 11   4   21   9 Corporate 1   1   2   2 Total$191  $140  $345  $268 *Depreciation, depletion and amortization reflects the expense included in Cost of revenues and does not represent total depreciation, depletion and amortization. MARTIN MARIETTA MATERIALS, INC.Balance Sheet Data  June 30,
 December 31,
 2026
 2025
(in millions)Unaudited
 Audited
Assets   Cash and cash equivalents$112  $67 Restricted cash 8   — Accounts receivable, net 1,020   723 Inventories, net 1,169   1,078 Other current assets 131   95 Current assets held for sale 6   1,230 Property, plant and equipment, net 13,101   10,290 Intangible assets, net 4,524   4,073 Operating lease right-of-use assets, net 381   367 Other noncurrent assets 853   788 Total Assets$21,305  $18,711       Liabilities and Equity     Current maturities of long-term debt$860  $30 Other current liabilities 879   865 Long-term debt (excluding current maturities) 5,091   5,293 Other noncurrent liabilities 2,927   2,489 Total equity 11,548   10,034 Total Liabilities and Equity$21,305  $18,711  MARTIN MARIETTA MATERIALS, INC.
Unaudited Statements of Cash Flows
  Six Months Ended
 June 30,
(in millions)2026
 2025
Cash Flows from Operating Activities     Consolidated net earnings$1,764  $444 Adjustments to reconcile consolidated net earnings to net cash provided
by operating activities:     Depreciation, depletion and amortization 371   321 Stock-based compensation expense 41   37 Gain on divestitures and sales of assets (1,977)  (15)Deferred income taxes, net 278   9 Changes in operating assets and liabilities, net of effects of acquisitions
and divestitures:     Accounts receivable, net (269)  (226)Inventories, net 61   (42)Accounts payable 55   48 Other assets and liabilities, net 25   35 Other items, net (10)  (6)Net Cash Provided by Operating Activities 339   605 Cash Flows from Investing Activities     Additions to property, plant and equipment (314)  (412)Acquisitions, net of cash acquired (733)  — Proceeds from divestitures and sales of assets 469   18 Investments in life insurance contracts, net 10   1 Investments in limited liability company —   (44)Other investing activities, net —   (15)Net Cash Used for Investing Activities (568)  (452)Cash Flows from Financing Activities     Proceeds from borrowings 1,085   — Repayments of debt (460)  — Payments on finance lease obligations (10)  (12)Dividends paid (102)  (97)Repurchases of common stock (200)  (450)Shares withheld for employees’ income tax obligations (27)  (29)Other financing activities, net (4)  1 Net Cash Provided by (Used for) Financing Activities 282   (587)Net Increase (Decrease) in Cash and Cash Equivalents 53   (434)Cash and Cash Equivalents, beginning of period 67   670 Cash and Cash Equivalents, end of period$120  $236 
MARTIN MARIETTA MATERIALS, INC.
Additional Notes

4. Revenues for the quarters ended June 30, 2026, and June 30, 2025, included the sales of products and services to customers (net of any discounts or allowances) and freight revenues for continuing operations.

5. Earnings from operations for the quarter ended June 30, 2026, included charges of $58 million for acquisition, divestiture and integration expenses, the impact of selling acquired inventory after markup to fair value as part of acquisition accounting for transactions meeting the Company's threshold for adding back for purposes of Adjusted EBITDA from continuing operations; and an asset and portfolio rationalization charge.

6. Net earnings from continuing operations attributable to Martin Marietta and earnings per diluted share from continuing operations for the quarter ended June 30, 2026, included charges of $45 million and $0.74 per diluted share, respectively, for acquisition, divestiture and integration expenses, the impact of selling acquired inventory after markup to fair value as part of acquisition accounting for transactions meeting the Company's threshold for adding back for purposes of Adjusted EBITDA from continuing operations; and an asset and portfolio rationalization charge.

7. Organic mix-adjusted ASP represents Organic ASP adjusted to reflect consistent geographic mix between periods and is calculated by comparing Organic ASP for current-period shipments to Organic ASP for shipments in the comparable prior period. Please refer to the Investors section of the Company's website for definitions of ASP and Organic ASP.

8. Lime mix-adjusted ASP represents ASP for the Company's lime business adjusted to reflect consistent product mix between periods and is calculated by comparing ASP for current-period shipments to ASP for shipments in the comparable prior period. Please refer to the Investors section of the Company's website for a definition of ASP.

MARTIN MARIETTA MATERIALS, INC.
Non-GAAP Financial Measures

Earnings from continuing operations before interest; income taxes; depreciation, depletion and amortization; earnings/loss from nonconsolidated equity affiliates; acquisition, divestiture and integration expenses; the impact of selling acquired inventory after its markup to fair value as part of acquisition accounting (Inventory Markup); and an asset and portfolio rationalization charge, or Adjusted EBITDA from continuing operations, is an indicator used by the Company and investors to evaluate the Company's operating performance from period to period. The Company has elected to add back, for purposes of its Adjusted EBITDA from continuing operations calculation, acquisition, divestiture and integration expenses and the Inventory Markup only for transactions with consideration of at least $2.0 billion for the Building Materials business or $200 million for the Specialties business.

Adjusted EBITDA from continuing operations is not defined by accounting principles generally accepted in the United States (GAAP) and, as such, should not be construed as an alternative to net earnings attributable to Martin Marietta, earnings from operations, or operating cash flow. For further information on Adjusted EBITDA, refer to the Company’s website at www.martinmarietta.com.

Reconciliation of Net Earnings from Continuing Operations Attributable to Martin Marietta to Adjusted EBITDA from Continuing Operations

 Three Months Ended
 Six Months Ended
 June 30,
 June 30,
(in millions)2026
 2025
 2026
 2025
Net earnings from continuing operations attributable to Martin Marietta$256  $292  $336  $396 Add back:           Interest expense, net of interest income 58   56   112   107 Income tax expense for controlling interests 64   73   101   101 Depreciation, depletion and amortization expense and earnings/loss from nonconsolidated equity affiliates 202   144   367   279 Acquisition, divestiture and integration expenses 11   —   15   — Impact of selling acquired inventory after markup to fair value as part of acquisition accounting 45   —   67   — Asset and portfolio rationalization charge 2   —   3   — Adjusted EBITDA from continuing operations$638  $565  $1,001  $883 
MARTIN MARIETTA MATERIALS, INC.
Non-GAAP Financial Measures

Reconciliation of 2026 Net Earnings from Continuing Operations Attributable to Martin Marietta Guidance to the 2026 Adjusted EBITDA from Continuing Operations Guidance

(in millions)Mid-Point of Range* Net earnings from continuing operations attributable to Martin Marietta$1,043 Add back:  Interest expense, net of interest income 223 Income tax expense for controlling interests 279 Depreciation, depletion and amortization expense and earnings/loss from nonconsolidated equity affiliates 800 Acquisition, divestiture and integration expenses 15 Impact of selling acquired inventory after markup to fair value as part of acquisition accounting 67 Asset and portfolio rationalization charge 3 Adjusted EBITDA from continuing operations guidance$2,430 *The Company's 2026 guidance does not include any contributions from the proposed LNA transaction announced on June 29, 2026. MARTIN MARIETTA MATERIALS, INC.
Non-GAAP Financial Measures

Adjusted earnings per diluted share from continuing operations is a non-GAAP financial measure used by the Company and by investors to evaluate operating performance and enhance comparability across reporting periods. The Company calculates Adjusted earnings per diluted share from continuing operations by excluding the impact of certain items that management believes are not indicative of the Company's underlying performance from period to period, including impacts directly related to acquisition and divestiture activity as well as asset and portfolio rationalization charges. The Company has elected to add back, for purposes of its Adjusted earnings per diluted share from continuing operations calculation, acquisition, divestiture and integration expenses, the impact of selling acquired inventory after its markup to fair value as part of acquisition accounting and the revaluation of deferred tax liabilities, only for transactions with consideration of at least $2.0 billion for the Building Materials business or $200 million for the Specialties business.

Adjusted earnings per diluted share from continuing operations is not defined by accounting principles generally accepted in the United States (GAAP) and, as such, should not be construed as an alternative to earnings per diluted share from continuing operations. For further information on Adjusted earnings per diluted share from continuing operations, refer to the Company’s website at www.martinmarietta.com.

Reconciliation of Earnings per Diluted Share from Continuing Operations to Adjusted Earnings per Diluted Share from Continuing Operations

 Three Months Ended
 Six Months Ended
 June 30,
 June 30,
(per diluted share)2026
 2025
 2026
 2025
Earnings per diluted share from continuing operations$4.26  $4.84  $5.56  $6.52 Add back:           Acquisition, divestiture and integration expenses 0.14   —   0.20   — Impact of selling acquired inventory after markup to fair value as part of acquisition accounting 0.58   —   0.86   — Asset and portfolio rationalization charge 0.02   —   0.04   — Revaluation of deferred tax liabilities —   —   0.26   — Adjusted earnings per diluted share from continuing operations$5.00  $4.84  $6.92  $6.52 

Key Takeaways Martin Marietta's Q2 revenues are expected to rise 3.1% to $1.87 billion on infrastructure demand.Aggregates revenues are projected to grow 12.9% as highway, bridge, data center and energy drive demand.Earnings are expected to decline 14.9% amid elevated costs, unfavorable mix and tariff risks. Martin Marietta Materials, Inc. (MLM - Free Report) is set to report its second-quarter 2026 results on July 30, before the opening bell.

In the last quarter, the company’s earnings (continuing operations) missed the Zacks Consensus Estimate by 25.6% and declined year over year by 22.9%. Conversely, revenues topped the consensus mark by 4.6% and increased 17% from the year-ago quarter.

MLM’s earnings topped the consensus mark in two of the last four quarters and missed on the remaining two occasions, having an average negative surprise of 4.1%.

How are Estimates Placed for MLM Stock?The Zacks Consensus Estimate for MLM’s second-quarter earnings per share has trended downward over the past 30 days to $4.62 from $4.90. The estimated figure indicates a 14.9% year-over-year decline from $5.43 per share.

The consensus mark for revenues is pegged at $1.87 billion, indicating 3.1% growth from the prior-year quarter’s figure of $1.81 billion.

Factors Likely to Shape Martin Marietta’s Q2 ResultsRevenues

Martin Marietta’s second-quarter revenue performance is expected to have improved year over year on the back of elevated public infrastructure demand, especially for highway, bridge and road projects. These favorable market trends are expected to have boosted aggregates sales, alongside favorable contributions from the QUIKRETE assets. Beyond infrastructure, heavy nonresidential demand remains supported by accelerating data center and energy-related construction. Management cited ongoing data center, power generation and Gulf Coast LNG work as one of the expected incremental demand drivers.

Aggregates product line (which contributed 83.8% to first-quarter 2026 revenues) is expected to report revenues of $1.49 billion per our Zacks model, reflecting 12.9% year-over-year growth. The consensus mark for aggregates shipment is expected to be 58,895 tons, up from 52,700 tons in the year-ago quarter.

However, some consistent headwinds are somewhat restricting MLM’s top-line growth in proportion to the robust infrastructure tailwinds. Softness in residential and light non-residential construction activities is likely to have been taking a toll on the company. The ongoing affordability concerns due to elevated mortgage rates have been limiting the recovery of the single-family housing market, which is a key demand driver for the company’s building materials demand.

For the second quarter, the Zacks Consensus Estimate for revenues from the total Building Materials segment (which contributed 89.5% to first-quarter 2026 revenues) is pegged at $1.7 billion, down from $1.72 billion reported a year ago. The Specialties segment’s (which contributed 10.5% to first-quarter 2026 revenues) revenues are expected to be $142 million in the second quarter.

That said, the continuous benefits realized from the portfolio transformation under its SOAR 2025 plan have been boding well.

Earnings

The bottom line of Martin Marietta is expected to have tumbled in the second quarter, despite revenue growth, because of elevated costs, unfavorable geographic mix and purchase accounting. This, alongside the ongoing geopolitical risks and tariff uncertainties, is expected to have muted the year-over-year performance.

The consensus mark for gross profit of the total Building Materials business segment is pegged at $463 million, reflecting a decline from $517 million in the year-ago quarter.

What the Zacks Model Unveils for MLMOur proven model does not predict an earnings beat for Martin Marietta this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. That is not the case here.

Earnings ESP of MLM: The stock has an Earnings ESP of -3.20%. You can uncover the best stocks before they are reported with our Earnings ESP Filter.

MLM’s Zacks Rank: The company currently carries a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Stocks With the Favorable CombinationHere are some stocks from the Zacks Construction sector, which per our model, have the right combination of elements to deliver an earnings beat this time around.

Boise Cascade Company (BCC - Free Report) has an Earnings ESP of +6.50% and a Zacks Rank of 2 at present.

Boise Cascade’s earnings beat estimates in two of the last four quarters, missed on one occasion and met on the remaining occasion, the average surprise being 40.8%. The company’s earnings for the second quarter of 2026 are expected to decline 25% year over year.

Amentum Holdings, Inc. (AMTM - Free Report) currently has an Earnings ESP of +3.18% and a Zacks Rank of 3.

Amentum’s earnings beat estimates in each of the last four quarters, the average surprise being 4%. The company’s earnings for the second quarter of 2026 are expected to increase 12.5% year over year.

CRH plc (CRH - Free Report) has an Earnings ESP of +4.08% and a Zacks Rank of 3.

CRH’s earnings beat estimates in two of the last four quarters, missed on one occasion and met on the remaining occasion, the average surprise being 0.7%. The company’s earnings for the second quarter of 2026 are expected to inch up 1% year over year.

Posted by Defense World Staff on Jul 28th, 2026

Arrowstreet Capital Limited Partnership reduced its position in shares of Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) by 33.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,519 shares of the construction company’s stock after selling 46,515 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.15% of Martin Marietta Materials worth $53,875,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in Martin Marietta Materials by 51.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock worth $1,524,853,000 after purchasing an additional 836,120 shares during the period. Bank of America Corp DE lifted its holdings in shares of Martin Marietta Materials by 31.9% in the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock valued at $1,284,938,000 after buying an additional 565,856 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Martin Marietta Materials by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,553,364 shares of the construction company’s stock valued at $963,406,000 after buying an additional 10,743 shares during the period. Morgan Stanley boosted its stake in shares of Martin Marietta Materials by 5.3% in the fourth quarter. Morgan Stanley now owns 1,367,016 shares of the construction company’s stock valued at $851,188,000 after buying an additional 68,382 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Martin Marietta Materials by 9.3% in the fourth quarter. Invesco Ltd. now owns 769,904 shares of the construction company’s stock valued at $479,389,000 after buying an additional 65,623 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades Several research analysts have issued reports on the company. Raymond James Financial cut their price objective on Martin Marietta Materials from $690.00 to $675.00 and set an “outperform” rating for the company in a research report on Wednesday, July 15th. Wall Street Zen cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Tuesday. Barclays cut their price target on shares of Martin Marietta Materials from $675.00 to $640.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Berenberg Bank set a $556.00 price objective on shares of Martin Marietta Materials and gave the company a “hold” rating in a research note on Tuesday, June 2nd. Finally, Truist Financial raised their price objective on shares of Martin Marietta Materials from $710.00 to $730.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Eleven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $681.53.

Read Our Latest Report on MLM

Martin Marietta Materials Stock Up 2.4% Shares of NYSE MLM opened at $573.11 on Tuesday. The firm’s 50-day moving average is $576.33 and its two-hundred day moving average is $609.45. The company has a market capitalization of $34.42 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 2.37 and a beta of 1.10. Martin Marietta Materials, Inc. has a 12-month low of $525.38 and a 12-month high of $710.97. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.28 and a quick ratio of 1.11.

Martin Marietta Materials (NYSE:MLM – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. Martin Marietta Materials had a net margin of 38.67% and a return on equity of 10.27%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the company posted $1.90 EPS. The company’s revenue was up 17.2% on a year-over-year basis. Equities analysts anticipate that Martin Marietta Materials, Inc. will post 19.43 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, June 1st. Martin Marietta Materials’s dividend payout ratio is 7.91%.

Martin Marietta Materials Company Profile (Free Report)

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.

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Posted by Defense World Staff on Jul 23rd, 2026

Dimensional Fund Advisors LP grew its position in Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) by 1.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 546,170 shares of the construction company’s stock after buying an additional 5,764 shares during the period. Dimensional Fund Advisors LP owned approximately 0.91% of Martin Marietta Materials worth $321,442,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in Martin Marietta Materials by 51.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,448,928 shares of the construction company’s stock valued at $1,524,853,000 after purchasing an additional 836,120 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Martin Marietta Materials by 31.9% in the second quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock worth $1,284,938,000 after purchasing an additional 565,856 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Martin Marietta Materials by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,553,364 shares of the construction company’s stock valued at $963,406,000 after purchasing an additional 10,743 shares in the last quarter. Morgan Stanley boosted its position in shares of Martin Marietta Materials by 5.3% during the fourth quarter. Morgan Stanley now owns 1,367,016 shares of the construction company’s stock valued at $851,188,000 after buying an additional 68,382 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Martin Marietta Materials by 9.3% in the 4th quarter. Invesco Ltd. now owns 769,904 shares of the construction company’s stock worth $479,389,000 after buying an additional 65,623 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades MLM has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of Martin Marietta Materials from $702.00 to $664.00 and set an “overweight” rating on the stock in a report on Monday, April 6th. Wells Fargo & Company increased their price target on Martin Marietta Materials from $614.00 to $616.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Berenberg Bank set a $556.00 price objective on Martin Marietta Materials and gave the stock a “hold” rating in a report on Tuesday, June 2nd. Weiss Ratings raised Martin Marietta Materials from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, June 25th. Finally, Citigroup increased their price objective on shares of Martin Marietta Materials from $731.00 to $737.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Eleven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $681.53.

Get Our Latest Stock Analysis on Martin Marietta Materials

Martin Marietta Materials Trading Up 0.7% Shares of Martin Marietta Materials stock opened at $551.30 on Thursday. Martin Marietta Materials, Inc. has a fifty-two week low of $525.38 and a fifty-two week high of $710.97. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.11 and a current ratio of 2.28. The company has a market capitalization of $33.11 billion, a P/E ratio of 13.14, a P/E/G ratio of 2.32 and a beta of 1.10. The company has a fifty day moving average of $576.52 and a 200 day moving average of $611.15.

Martin Marietta Materials (NYSE:MLM – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The construction company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.78 by $0.15. Martin Marietta Materials had a return on equity of 10.27% and a net margin of 38.67%.The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the business earned $1.90 earnings per share. The business’s revenue was up 17.2% on a year-over-year basis. On average, sell-side analysts anticipate that Martin Marietta Materials, Inc. will post 19.43 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 1st. Martin Marietta Materials’s dividend payout ratio (DPR) is 7.91%.

Martin Marietta Materials Company Profile (Free Report)

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.

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Key Takeaways Martin Marietta to buy Lhoist North America for $13.5B, expanding its lime and industrial minerals business.MLM expects the deal to boost earnings, margins and cash flow, with about $85M in annual cost synergies.The acquisition raises leverage initially, but MLM plans to reduce it through free cash flow generation. Martin Marietta Materials, Inc. (MLM - Free Report) is making one of the biggest moves in its history with a definitive agreement to acquire Lhoist North America (a subsidiary of Lhoist Group) for $13.5 billion in a cash-and-stock transaction. The transaction is expected to close in the second half of 2026, subject to regulatory approvals.

Although MLM’s shares pulled back 5.7% during yesterday’s trading hours after the news broke, the acquisition significantly strengthens the company’s position in the high-growth lime and industrial minerals market.

More on Martin Marietta's $13.5B DealLhoist North America, or LNA, is a leading producer of hi-calcium lime, dolomitic lime and industrial mineral products serving end markets such as steel manufacturing, infrastructure, environmental applications and agriculture. The business generated $1.8 billion in gross sales and $786 million in adjusted EBITDA in 2025, while operating 20 quarries and production facilities, 45 distribution terminals and controlling more than 2 billion tons of high-quality limestone reserves (mainly in high-growth Sun Belt metropolitan corridors) with an estimated useful life exceeding 200 years.

The transaction aligns with Martin Marietta's SOAR 2030 strategy by expanding its higher-margin Specialties segment and establishing it as the nation's leading producer of lime solutions. The combined business is expected to benefit from resilient long-term demand driven by infrastructure investment, advanced manufacturing, data centers, semiconductor fabrication, LNG facilities and energy development across North America.

Strategically, the acquisition enhances MLM’s footprint across the fast-growing Southeast and Southwest, particularly Texas, while broadening its distribution network and product portfolio. Financially, management expects approximately $85 million in annual cost synergies, with additional commercial and operational upside. The deal is projected to be accretive to earnings, margins and cash flow in the first full year after closing.

Although the acquisition will temporarily lift net leverage to roughly 3.7x, Martin Marietta intends to reduce it below 2.5x within two years through robust free cash flow generation, reinforcing confidence in its long-term value creation strategy.

MLM Stock’s Price PerformanceShares of this producer and supplier of construction aggregates and other heavy building materials have inched down 1.2% in the past three months, underperforming the Zacks Building Products - Concrete and Aggregates industry, the broader Zacks Construction sector and the S&P 500 Index. Continued weakness in residential and light nonresidential demand, alongside an unfavorable geographic mix, is taking a toll on the company’s near-term prospects.

Image Source: Zacks Investment Research

However, multi-year public infrastructure funding and heavy nonresidential work, mainly tied to data centers and power generation projects, are gearing up the company’s mid and long-term prospects. Moreover, consistent execution of the SOAR 2030 plans and a stable cash position offer additional support to Martin Marietta's prospects.

Martin Marietta’s Zacks Rank & Key PicksMartin Marietta currently carries a Zacks Rank #3 (Hold).

Here are some better-ranked stocks from the same sector.

Argan, Inc. (AGX - Free Report) currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Argan delivered a trailing four-quarter earnings surprise of 40.5%, on average. The stock has climbed 45.4% in the past three months. The Zacks Consensus Estimate for Argan’s fiscal 2027 sales and earnings per share (EPS) indicates growth of 38% and 29.4%, respectively, from a year ago.

Sterling Infrastructure, Inc. (STRL - Free Report) presently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 29.1%, on average. Shares of Sterling have surged 99.8% in the past three months.

The Zacks Consensus Estimate for Sterling’s 2026 sales and EPS indicates growth of 59.2% and 75.7%, respectively, from the prior-year levels.

Quanta Services, Inc. (PWR - Free Report) currently sports a Zacks Rank of 1. Quanta delivered a trailing four-quarter earnings surprise of 10.3%, on average. The stock has gained 30.1% in the past three months.

The Zacks Consensus Estimate for Quanta’s 2026 sales and EPS imply an increase of 22.1% and 30.5%, respectively, from a year ago.

Martin Marietta (MLM) shares have dipped following the announcement of its merger with Lhoist North America in a cash-and-stock deal worth approximately $13.5 b

A specialist trader works at the post where Martin Marietta Materials is traded on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 6, 2017. REUTERS/Brendan McDermid Purchase Licensing Rights, opens new tab

SummaryCompaniesMartin Marietta to fund the deal with $7 billion cash and $6.5 billion in sharesThe Berghmans family would own roughly 15% of Martin Marietta after ​deal closesThe transaction would add 2 billion tons of limestone ‌reserves in Sun Belt corridorsJune 29 (Reuters) - Martin Marietta Materials (MLM.N), opens new tab said on Monday it would merge with limestone supplier Lhoist North America in a cash-and-stock ​deal worth $13.5 billion, as the building material firm looks to tap growing demand ​for lime products.

Shares of the Raleigh, North Carolina-based company were ⁠down about 3% in premarket trade.

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Martin Marietta will use a mix of $7 billion ​in cash along with shares valued at $6.5 billion to fund the deal, ​the company said. It expects to realize about $85 million in annual run-rate cost synergies.

Martin Marietta CEO Ward Nye said demand for high-quality lime products is expected to remain resilient for ​decades to come, due to investment in infrastructure, advanced manufacturing, energy development and industrial ​expansion in the U.S.

There has been a surge in dealmaking in the U.S. building-products industry as the ‌data center ⁠construction business booms, along with new housing, repairs and renovations.

Last week, Ireland's CRH (CRH.N), opens new tab said it would acquire Arcosa (ACA.N), opens new tab in an all-cash deal valued at about $8.5 billion, in a bid to capitalize on rising demand for U.S. energy and utility infrastructure.

Lhoist's ​Berghmans family - which ​owns the privately ⁠held Lhoist Group, a Belgian industrial company - would own roughly 15% of Martin Marietta upon the deal's close.

The transaction would ​add quarries, production facilities, distribution terminals and 2 billion ​tons of ⁠limestone reserves in Sun Belt metropolitan corridors to Martin Marietta's portfolio.

Lhoist North America makes hi-calcium lime, dolomitic lime and industrial mineral products used in domestic ⁠steel ​manufacturing, infrastructure and heavy non-residential construction across North America.

The ​deal is expected to be completed in the second half of 2026, subject to regulatory approvals.

Reporting ​by Anshuman Tripathy in Bengaluru; Editing by Shailesh Kuber and Devika Syamnath

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Martin Marietta stock falls after the construction materials giant announces a$13.5 billion deal to buy Lhoist North America, a supplier of limestone and key components for steelmaking.

© robertcicchetti / Getty Images

Pre-Market Stock Futures: Risk-on appeared back, at least for the last two days, as the stock market put together another rally on Wednesday, with hopes for an end to the war in Iran and some solid economic data teaming up to push stocks higher, though not at the frenetic level of Tuesday’s rally. However, the futures are trading lower as we get set to end a holiday-shortened trading week, after the President’s speech to the country apparently left many confused on the timing of the end of the fighting.  All of the major indices finished the day higher, with the tech-heavy Nasdaq leading the way, closing up 1.16% at 21,840, while the S&P 500 closed at 6,575, up 0.72%. The small-cap Russell 2000, the only index up in 2026, finished the mid-week session at 2,515, up 0.78%, while the Dow Jones Industrial Average was last seen at 46,565, up 0.48%.

Treasury Bonds: After a strong rally to start the week, yields were up across the Treasury curve, as many portfolio managers are likely to reset their portfolios amid the growing likelihood of no rate cuts this year. If inflation does spike, we could even see a rate hike later this year. The 30-year-long bond closed Wednesday’s trading at 4.91%, while the benchmark 10-year note finished the session at 4.33%.

Oil and Gas: Oil prices were down on Wednesday, as the seemingly positive direction in the war with Iran, solid economic numbers, and many feeling the sector is overbought all contributed to the selling. Published reports we saw on Wednesday suggest that bearish bets on oil have risen to over $1 billion, with many traders using the ProShares UltraShort Bloomberg Crude Oil ETF. (NYSEArca: SCO) to place those bets. Brent Crude closed the Wednesday session at $100.70, down 3.15%, while West Texas Intermediate ended trading at $99.40, down 1.95%. Natural gas, which has had a tough stretch, closed down 2.53% at $2.81. 

Gold: The precious metals market followed suit again, trading in lockstep with the equity markets as Gold closed the day up 1.97% at $4,759, while Silver also finished higher, but barely so, at $75.09, up 0.12%. 

Crypto: Crypto markets surged on Wednesday as Bitcoin and other major digital assets climbed in the wake of the news reports suggesting a potential resolution to the Iran conflict. Easing geopolitical tensions drove oil prices lower, reducing demand for traditional safe-haven assets and prompting investors to turn to riskier plays. However, some analysts have cautioned that the rally was fueled more by growing leverage than by genuine spot buying, leaving the market vulnerable to a sharp reversal. And while optimism has crept back in, the broader mood has remained guarded, and many participants have noted that the lingering fallout from a recent stretch of “extreme fear” has yet to fully clear. At 8 AM EDT, Bitcoin was trading at $66,196, while Ethereum was quoted at $2,032.

24/7 Wall St. reviews dozens of analyst research reports daily to identify new investment ideas for both investors and traders. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. 

Here are some of the top Wall Street analyst upgrades, downgrades, and initiations seen on Thursday, April 2, 2026.  

Upgrades: Brinker International Inc. (NYSE: EAT) was upgraded to Overweight from Sector Weight at KeyBanc, which has a $177 target price for the Chili’s owner Martin Marietta Materials Inc. (NYSE: MLM) | MLM Price Prediction was raised to Buy from Neutral at B. Riley, with a $700 target price. Ollie’s Bargain Outlet Holdings  Inc. (NASDAQ: OLLI) was raised to Buy from Hold at Jefferies, which raised the target price for the shares to $130 from $120. Vale SA (NYSE: VALE) was upgraded to Buy from Hold at Bank of America, which nudged the target price for the metal and mining giant to $19 from $18. Wingstop Inc. (NASDAQ: WING) was upgraded to Overweight from Neutral at Piper Sandler, with a $190 target price. Downgrades: Akamai Technologies Inc. (NASDAQ: AKAM) was downgraded to Neutral from Outperform at Baird, with a $110 target price objective. Apellis Pharmaceutical Inc. (NASDAQ: APLS) was downgraded to Neutral from Buy at Roth Capital with a $41 target. Biogen is buying the company. Methanex Corporation (NASDAQ: MEOH) was downgraded to Sector Perform from Outperform at RBC Capital, which actually raised the target price for the stock to $65 from $55. Wix.com Ltd.(NASDAQ: WIX) was cut to Neutral from Buy at UBS, which slashed the target price for the stock to $96 from $145. Initiations: AstraZeneca plc (NYSE: AZN) was assumed with a Buy rating at Goldman Sachs, with a $220 target price. CareTrust REIT Inc. (NYSE: CTRE) was initiated with an Outperform rating at Mizuho, with a $42 target price. e.l.f Beauty Inc. (NYSE: ELF) was started with an In-line rating at Evercore ISI, which has set a $68 target price for the popular cosmetics company. Freeport-McMoran Inc. (NYSE: FCX) was initiated with a Buy rating at Goldman Sachs, which has a $70 target price for the shares. 
Nutanix Inc. (NASDAQ: NTNX) was started with a Buy rating at Rosenblatt, which has set a $60 target price.

April 16, 2026 16:15 ET  | Source: Martin Marietta Materials, Inc.

RALEIGH, N.C., April 16, 2026 (GLOBE NEWSWIRE) -- Martin Marietta Materials, Inc. (NYSE: MLM) (Martin Marietta or the Company) will host its first-quarter 2026 earnings call on Thursday, April 30, 2026, at 10:00 a.m. Eastern Time. The Company will release results for the quarter ended March 31, 2026, that morning before the market opens.

A live, listen-only webcast and supplemental information will be accessible on the Investors section of the Company’s website at www.martinmarietta.com. The conference call may also be accessed by dialing +1 (646) 307-1963 and using conference ID 6288728. Please dial in at least 15 minutes in advance to ensure a timely connection. An on-demand replay will be available on the Company’s website approximately two hours following the conclusion of the live broadcast and will be available for one year.

Martin Marietta, a member of the S&P 500 Index, is an American-based company and a leading supplier of aggregates and other building materials. Through a network of operations spanning 28 states, Canada and The Bahamas, dedicated Martin Marietta teams supply the resources necessary for building the solid foundations on which our communities thrive. Martin Marietta’s Specialties business provides high-purity magnesia and dolomitic lime products used worldwide in environmental, industrial, agricultural and other specialty applications. For more information, visit www.martinmarietta.com or www.magnesiaspecialties.com.

Investor Contact:
Jacklyn Rooker
Vice President, Investor Relations
+1 (919) 510-4736
[email protected]

MLM-E.

Posted by Defense World Staff on Apr 26th, 2026

Arizona State Retirement System lowered its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM – Free Report) by 7.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 16,577 shares of the construction company’s stock after selling 1,292 shares during the period. Arizona State Retirement System’s holdings in Martin Marietta Materials were worth $10,322,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE boosted its position in Martin Marietta Materials by 31.9% in the 2nd quarter. Bank of America Corp DE now owns 2,340,677 shares of the construction company’s stock valued at $1,284,938,000 after buying an additional 565,856 shares during the period. Principal Financial Group Inc. boosted its position in Martin Marietta Materials by 9.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,204,425 shares of the construction company’s stock valued at $1,389,428,000 after buying an additional 192,637 shares during the period. Millennium Management LLC boosted its position in Martin Marietta Materials by 1,570.3% in the 3rd quarter. Millennium Management LLC now owns 108,167 shares of the construction company’s stock valued at $68,175,000 after buying an additional 115,524 shares during the period. Freestone Grove Partners LP boosted its position in Martin Marietta Materials by 748.5% in the 3rd quarter. Freestone Grove Partners LP now owns 124,963 shares of the construction company’s stock valued at $78,762,000 after buying an additional 110,236 shares during the period. Finally, Vanguard Group Inc. boosted its position in Martin Marietta Materials by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 7,442,945 shares of the construction company’s stock valued at $4,691,139,000 after buying an additional 93,595 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Price Performance Shares of NYSE:MLM opened at $615.35 on Friday. The company’s fifty day moving average price is $619.83 and its 200 day moving average price is $628.60. Martin Marietta Materials, Inc. has a 12 month low of $490.31 and a 12 month high of $710.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.57 and a quick ratio of 2.36. The firm has a market capitalization of $37.08 billion, a P/E ratio of 32.73, a P/E/G ratio of 2.23 and a beta of 1.19.

Martin Marietta Materials (NYSE:MLM – Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The construction company reported $4.62 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.19). Martin Marietta Materials had a return on equity of 10.86% and a net margin of 17.38%.The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the business earned $4.79 earnings per share. Martin Marietta Materials’s revenue was up 9.3% compared to the same quarter last year. As a group, sell-side analysts predict that Martin Marietta Materials, Inc. will post 19.85 earnings per share for the current fiscal year.

Martin Marietta Materials Announces Dividend The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 2nd were paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, March 2nd. Martin Marietta Materials’s dividend payout ratio (DPR) is currently 17.66%.

Analyst Ratings Changes Several equities analysts have commented on the stock. Stephens decreased their price target on shares of Martin Marietta Materials from $740.00 to $735.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Truist Financial set a $710.00 price target on shares of Martin Marietta Materials in a research report on Thursday, February 12th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $630.00 price target on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Jefferies Financial Group reissued a “buy” rating and issued a $785.00 price target on shares of Martin Marietta Materials in a research report on Thursday, February 26th. Finally, B. Riley Financial raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $700.00 price target for the company in a research report on Thursday, April 2nd. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $692.06.

View Our Latest Research Report on Martin Marietta Materials

Martin Marietta Materials Company Profile (Free Report)

Martin Marietta Materials, Inc (NYSE: MLM) is a leading producer of aggregates and heavy building materials serving the construction and infrastructure markets. The company operates quarries, sand and gravel pits, and other extraction sites to supply crushed stone, sand and gravel, and a range of value‑added products for use in roads, bridges, commercial and residential construction, and other civil engineering projects.

In addition to its core aggregates business, Martin Marietta manufactures and sells asphalt, ready‑mixed concrete and related materials and services.

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The Zacks Building Products - Concrete & Aggregates industry faces several near-term headwinds. Residential construction remains soft due to affordability pressures and elevated interest rates, limiting demand from housing-related projects. The industry is also dealing with cost inflation, labor shortages, regulatory hurdles and weather-related disruptions that can affect project schedules and operating efficiency. Tight quarry supply in some markets may also constrain volumes.

Despite these challenges, the broader outlook remains steady. Federal and state spending on highways, utilities and infrastructure projects continues to provide a reliable demand base. A gradual recovery in private nonresidential construction should add support over time. At the same time, rising investment in data centers, manufacturing plants and industrial facilities is creating new growth opportunities. Pricing conditions remain healthy, helped by high barriers to entry and disciplined supply conditions. Companies are also focusing on productivity and cost-control measures to protect margins. For 2026, demand visibility appears solid, with long-term fundamentals remaining favorable for leaders such as Vulcan Materials Company (VMC - Free Report) , Martin Marietta Materials, Inc. (MLM - Free Report) and Suncrete, Inc. (RMIX - Free Report) .

Industry Description The Zacks Building Products - Concrete & Aggregates industry consists of manufacturers, distributors and sellers of construction materials like aggregates and concrete along with other related items for public infrastructure, residential and non-residential, as well as other end markets. The materials also include gypsum wallboard, recycled paperboard, concrete blocks, ready-mix concrete, and oil and gas proppants. The industry players are also involved in designing, engineering, manufacturing, marketing, and installation of external building products for commercial, residential, and repair and remodel markets in domestic as well as international markets.

4 Trends Shaping the Future of Concrete & Aggregates Industry Residential Construction Weakness Remains a Key Drag: The U.S. Concrete and Aggregates industry continues to face pressure from weak residential construction demand, especially in single-family housing. Elevated mortgage rates, affordability constraints and cautious homebuyer sentiment have slowed new housing starts in many markets. Major producers noted that residential activity remained softer than expected in 2025 and is likely to stay limited in the near term unless financing conditions improve. Since housing is an important end market for aggregates, prolonged weakness can restrain shipment volumes and plant utilization.

Fluctuation in Input Prices, Weather Woes & Shortage of Skilled Labors: The industry players are struggling with escalating material expenses, the shortage of skilled laborers and rising wage costs. The companies use electricity, diesel fuel, liquid asphalt and other petroleum-based resources. Hence, supply-related woes and significant fluctuations in the prices of these resources affect operating results. Also, businesses are exposed to weather-related risks affecting production schedules and profitability. Excessive rainfall, flooding or severe droughts jeopardize shipments and production. The first and fourth quarters are affected mainly by winter. Again, hurricanes in the Atlantic Ocean and the Gulf Coast are most active during these quarters. These impediments may bump up costs and mar the industry participants’ profits.

Focus on Reviving Infrastructure: The Infrastructure Investment and Jobs Act, the Creating Helpful Incentives to Produce Semiconductors and Science Act, and the Inflation Reduction Act collectively signify a substantial commitment to bolstering American competitiveness. These three enacted laws are aimed at revitalizing American infrastructure, expediting the shift toward a sustainable economy, and fortifying the domestic semiconductor sector. These bills comprise new investments in almost every infrastructure sector, including transportation, energy, broadband and water. The U.S. administration’s endeavor to pump money for rebuilding the nation's roads, bridges and other infrastructure would give construction companies a solid foundation for growth. While the residential sector is facing headwinds from high interest rates and affordability issues, the industrial segment, especially data center and warehouse construction, is stabilizing.

Acquisitions & Focus on Operating Efficiency: The industry participants follow a well-chalked-out acquisition plan to enhance domestic and international portfolios. Moreover, companies are increasingly focusing on reducing controllable costs and maximizing operating efficiency across business lines to generate higher earnings and cash flows. The industry players have also been experiencing a solid pricing environment across their product portfolios, thereby helping to boost margins.

Zacks Industry Rank Indicates Bleak Prospects The Zacks Building Products - Concrete & Aggregates industry is a seven-stock group within the broader Zacks Construction sector. The industry currently carries a Zacks Industry Rank #160, which places it in the bottom 34% of more than 250 Zacks industries.

The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates dull near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

The industry’s positioning in the bottom 50% of the Zacks-ranked industries is a result of a lower earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are gradually losing confidence in this group’s earnings growth potential. Since February 2026, the industry’s earnings estimates for 2026 have decreased to $2.27 per share from $2.31.

Despite the industry’s uncertain near-term outlook, we highlight a few stocks that investors may consider adding to their portfolios. But first, it is worth reviewing the industry’s shareholder returns and current valuation.

Industry Lags Sector & S&P 500 The Zacks Building Products - Concrete & Aggregates industry has underperformed the broader Zacks Construction sector and the Zacks S&P 500 Composite over the past year, respectively.

Stocks in this industry have collectively gained 27.2% compared with the broader sector’s 30.7% rise over the past year. Meanwhile, the S&P 500 has gained 33.7% in the same period.

One-Year Price Performance

Concrete & Aggregates Industry's Current Valuation On the basis of the forward 12-month price-to-earnings, which is a commonly used multiple for valuing Building Products - Concrete & Aggregates stocks, the industry is currently trading at 24.03X versus the S&P 500’s 22.15X and the sector’s 21.6X.

Over the past five years, the industry has traded as high as 25.98X, as low as 13.86X and at a median of 19.91X, as the chart below shows.

Industry’s P/E Ratio (Forward 12-Month) Versus S&P 500

Industry’s P/E Ratio (Forward 12-Month) Versus Sector

3 Concrete & Aggregates Stocks to Keep an Eye On Below, we have discussed three stocks from the Zacks Concrete & Aggregates universe that have growth potential. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Vulcan Materials Company: This Birmingham, AL-based company produces and supplies construction aggregates, asphalt mix, and ready-mixed concrete. Vulcan’s growth is supported by a combination of resilient end-market demand and disciplined execution. Public construction remains a powerful tailwind, underpinned by multi-year infrastructure funding and stronger contract awards across Vulcan’s core markets, which provide stable visibility for aggregates shipments. Private nonresidential activity is also improving, helped by momentum in data centers and large industrial projects near key Vulcan operations. Residential demand is softer, but geographic diversity and exposure to faster-growing Sun Belt markets cushion the weakness. Alongside demand, Vulcan’s operational discipline—anchored in the Vulcan Way of Operating—continues to enhance plant efficiencies, manage costs and expand unit profitability. Additionally, the company’s pricing strategy and leading market positions support steady price realization. Strategic portfolio actions, including divestitures of non-core downstream assets, further sharpen the aggregates-led focus and free up capital for high-return growth opportunities.

Vulcan, a Zacks Rank #3 (Hold) stock, has gained 19% over the past year. Also, the 2026 earnings per share (EPS) estimate depict 14.6% year-over-year growth. This company surpassed earnings estimates in two of the trailing four quarters and missed on the other two occasions, with the average surprise being 2.1%. It has a three-to-five-year expected EPS growth rate of 14.5%.

Price and Consensus: VMC

Martin Marietta: Based in Raleigh, NC, Martin Marietta produces and supplies construction aggregates and other heavy building materials, mainly cement, in the United States. Martin Marietta’s growth is being driven by broadly constructive demand across its key end markets, supported by strong infrastructure funding, steady heavy nonresidential activity and gradually improving residential trends. Federal and state infrastructure programs, including multi-year allocations under the Infrastructure Investment and Jobs Act, continue to provide a durable pipeline of highway, bridge and road projects that underpin aggregates shipments. Heavy nonresidential demand is bolstered by accelerating data center development, early-stage manufacturing projects and energy-related construction across high-growth Sunbelt markets. Even as residential construction remains soft, moderating mortgage rates point toward eventual stabilization. With an aggregates-led business model, disciplined pricing, improved operational execution and contributions from portfolio optimization initiatives, Martin Marietta is positioned to capitalize on these long-term structural tailwinds.

Martin Marietta, a Zacks Rank #3 stock, has gained 22.4% over the past year. The Zacks Consensus Estimate for MLM’s EPS and revenues depicts 19.4% and 7% growth, respectively. It has a three-to-five-year expected EPS growth rate of 14%.

Price and Consensus: MLM

Suncrete: The company, which became a public corporation in April 2026 after completing a business combination with Haymaker Acquisition Corp. 4., has promising growth prospects as it enters the public market. The company is strategically focused on the fast-growing U.S. Sunbelt, with an existing footprint across Oklahoma and Arkansas and plans to expand further. Its vertically integrated model, including batching plants, owned mixer trucks and tech-enabled dispatch systems, should support efficiency and stronger margins. Suncrete also serves diversified end markets such as infrastructure, commercial and residential construction, reducing reliance on any single segment. Importantly, management highlighted opportunities for market-share gains, organic growth and accretive acquisitions, supported by about $226 million in gross proceeds from its business combination.

Suncrete, a Zacks Rank #3 stock, has gained 30.8% over the past month. The Zacks Consensus Estimate for RMIX’s 2026 EPS and revenues calls for 19 cents and $300 million, respectively. For 2027, the consensus mark for RMIX’s EPS and revenues depicts 31.6% and 5% growth, respectively.

Price and Consensus: RMIX

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Published in construction

TORONTO, April 29, 2026 (GLOBE NEWSWIRE) -- McFarlane Lake Mining Limited (“McFarlane” or the “Company”) (CSE: MLM, OTC: MLMLF, FRA: W2Z) is pleased to provide an update of ongoing exploration activities and development plans on its 100%-owned Juby Gold Project, located west of Gowganda, Ontario, within the southern part of the “Abitibi Greenstone Belt”. Highlights MRE Update Underway: Drilling results to date have exceeded expectations.

Key Takeaways U.S. construction earnings are seen down 12.8% YoY in Q1, while revenues may rise 1.1%.Quanta and MasTec may benefit from power, grid and data center infrastructure demand.Weyerhaeuser and Martin Marietta face pressure from housing softness and private spending. Moving into the upcoming earnings phase, the construction sector of the United States seems to be in a state of conjecture, with strong public construction demand trends counterbalancing the weak housing market. Increasing power demand is stimulating growth in public project demand, while rising mortgage rates and weak consumer sentiment are muting housing demand and starts.

Against this mixed backdrop, key market players, including MasTec, Inc. (MTZ - Free Report) , Quanta Services, Inc. (PWR - Free Report) , Weyerhaeuser Company (WY - Free Report) and Martin Marietta Materials, Inc. (MLM - Free Report) , are set to provide crucial insights into demand trends, pricing discipline and backlog visibility.

Considering a broader view of the Construction sector, per the latest Earnings Trends report (as of April 22), 23.5% of the sector’s companies out of the reported 86 S&P 500 members had released their earnings. Having the sector’s market capitalization of 14.6%, these companies, in total, reported a 31.5% decline in the bottom line, with the top line tumbling 8.1%. Of the companies that have reported, 50% beat on earnings, while 25% topped the revenue estimates.

Expectations of the Construction Sector’s Earnings SeasonPer the recent Earnings Trends report, the construction sector’s earnings are expected to tumble 12.8% year over year in the first quarter compared with a 16% decline in the prior quarter. Conversely, revenues are anticipated to inch up 1.1% compared with 2.4% growth in the fourth quarter of 2025.

What is Driving the Sector’s Growth?The United States is witnessing a boost from increased public infrastructure spending, which is currently at its peak momentum. The ongoing governmental initiatives are proving incremental for companies engaging in public construction and engineering projects, resulting in a growing backlog. Increasing power demand from data centers and electrification, elevated revamp and new transportation projects, and decarbonization spectrum, are adding to the uptrend. Companies like MasTec and Quanta, whose revenue growth and profitability are directly tied to this market tailwind, are expected to have benefited in the quarter to be reported.

MasTec continues to benefit from strong activity across communications, clean energy and power delivery markets. Higher wireless and fiber deployments, steady renewable and industrial project momentum and ongoing grid modernization work are expected to support the company’s financial performance.

Similarly, Quanta, which is a provider of specialty contracting services, is uniquely positioned to gain from significant increases in power demand driven by electrification, AI and data center growth. As governments and corporations accelerate investment in decarbonization and energy security, Quanta’s expertise in large-scale, mission-critical infrastructure makes it a natural beneficiary of the energy transition.

Challenges Posing a Threat to the Construction SectorDespite the public infrastructure construction boom, the broader sector’s prospects are pulled back by the ongoing housing market softness. Per Freddie Mac, the 30-year mortgage rate moved up from 6.16% as of the week ending on Jan. 8 to 6.38% as of the week ending on March 26. Amid the heightened geopolitical tensions and increasing inflation, homebuyers in the country stayed demotivated in owning a new house.

As of the recent report (March 12, 2026) by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, single-family housing starts in January 2026 were 2.8% below from December 2025 and 6.5% down year over year. Also, per the U.S. Census Bureau’s recent construction spending report on March 23, private construction spending in January 2026 was 0.6% below month-over-month and 0.1% year over year.

Firms like Weyerhaeuser have been navigating the tough economic conditions with weaker OSB pricing, lingering demand inefficiencies and export-related headwinds, including freight and demand variability. These adverse aspects are expected to have pressured bottom-line growth in the to-be-reported quarter. Also, Martin Marietta is struggling to manage its profitability and revenue performance due to softness in private construction activities and a weak housing market.

Construction Stocks to Watch OverAmid a bundle of stocks, to identify one with the potential to beat earnings estimates, the following Zacks methodology can be exercised. The Zacks model suggests that a company needs to have the right combination of the two key ingredients — a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — to increase the odds of an earnings beat. You can uncover the best stocks before they’re reported with our Earnings ESP Filter. You can see the complete list of today’s Zacks Rank #1 stocks here.

Here are four stocks that are set to report their earnings on April 30.

MasTec: This Florida-based infrastructure construction company has an Earnings ESP of +2.22% and a Zacks Rank of 3. MTZ reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 17.4%.

The Zacks Consensus Estimate for MTZ’s first-quarter 2026 revenues and EPS is pegged at $3.47 billion and 98 cents, representing growth of 21.9% and 92.2%, respectively, from the year-ago figures. (read more: Should Investors Hold or Fold MasTec Stock Ahead of Q1 Earnings?)

Quanta: This Texas-based specialty contracting services provider has an Earnings ESP of +0.04% and a Zacks Rank of 3. PWR reported better-than-expected earnings in each the trailing four quarters, the average surprise being 4.3%.

The Zacks Consensus Estimate for PWR’s first-quarter 2026 revenues and EPS is pegged at $6.99 billion and $2.04, implying increases of 12.2% and 14.6%, respectively, from the year-ago figures. (read more: Quanta to Report Q1 Earnings: Here's What Investors Must Know)

Weyerhaeuser: This Washington-based forest product company has an Earnings ESP of +38.46% and a Zacks Rank of 3. WY reported better-than-expected earnings in three of the trailing four quarters and met on the remaining occasion, the average surprise being 59.1%.

The Zacks Consensus Estimate for WY’s first-quarter 2026 revenues and EPS is pegged at $1.73 billion and four cents, indicating declines of 1.6% and 63.6%, respectively, from the year-ago figures. (read more: Weyerhaeuser Set to Report Q1 Earnings: Key Factors to Watch)

Martin Marietta: This North Carolina-based producer and supplier of construction aggregates and other heavy building materials has an Earnings ESP of -5.95% and a Zacks Rank of 3. MLM reported better-than-expected earnings in one of the trailing four quarters and missed on the remaining three occasions, the average negative surprise being 7%.

The Zacks Consensus Estimate for MLM’s first-quarter 2026 revenues and EPS is pegged at $1.33 billion and $1.87, indicating declines of 1.5% and 1.6%, respectively, from the year-ago figures. (read more: Martin Marietta to Report Q1 Earnings: What to Expect This Season?)

Revenues Increased 17% with Momentum Continuing in April

Completed Asset Exchange with QUIKRETE

Entered into a Definitive Agreement to Acquire New Frontier Materials

Reaffirmed Full-Year 2026 Guidance Based on Strong Underlying Demand

RALEIGH, N.C., April 30, 2026 (GLOBE NEWSWIRE) -- Martin Marietta Materials, Inc. (NYSE: MLM) (Martin Marietta or the Company), a leading national supplier of aggregates and other building materials, today reported results for the first quarter ended March 31, 2026.

First-Quarter Highlights
(Financial highlights are for continuing operations)

  Quarter Ended March 31,(In millions, except per share and per ton data) 2026  2025  % ChangeRevenues2 $1,362  $1,162  17%Gross profit3 $310  $315  (2)%Earnings from operations4 $162  $179  (9)%Net earnings from continuing operations attributable to Martin Marietta5 $79  $104  (24)%Adjusted EBITDA from continuing operations1 $364  $319  14%Earnings per diluted share from continuing operations5 $1.31  $1.70  (23)%Adjusted earnings per diluted share from continuing operations1 $1.93  $1.70  14%         Aggregates product line:        Shipments (tons)  43.9   39.0  12%Average selling price per ton $23.70  $23.77  (0)%Revenues $1,142  $1,002  14%Gross profit3 $288  $297  (3)%Gross profit per ton3 $6.56  $7.59  (14)% 1 Non-GAAP financial measures; see pages 15 and 17 for reconciliations to the nearest GAAP financial measures.
For additional notes, see page 14.

Ward Nye, Chair, President and CEO of Martin Marietta, stated, “2026 is off to a strong start, with revenues improving 17% to a new first-quarter record. Organic aggregates shipment growth of 7% meaningfully exceeded expectations, benefiting from an early start to the construction season in the Midwest and Colorado, as well as strong infrastructure and heavy nonresidential demand across our geographic footprint. The quarter's results reflect a 14% improvement in both Adjusted EBITDA from continuing operations and Adjusted earnings per diluted share from continuing operations. Importantly, our teams delivered the best first-quarter safety performance in the Company's history, underscoring our unwavering commitment to world-class safety and operational excellence.

"As noted, on February 23 we closed our largest aggregates acquisition to date through an Internal Revenue Code Section 1031 asset exchange with Quikrete Holdings, Inc. (QUIKRETE). This milestone enhanced the quality and durability of our earnings profile and provided $450 million of cash to redeploy into M&A opportunities. As such, and consistent with the Company's strategic plan, on April 19, we signed a definitive agreement to acquire New Frontier Materials (NFM). NFM is a leading Midwestern aggregates-led producer with high-quality, strategically located reserves complementing Martin Marietta's existing footprint and long-term growth objectives.

"With April's continued strong product demand, the impact of April 1 price increases, and ongoing optimization efforts, we are reaffirming our full-year 2026 Adjusted EBITDA from continuing operations guidance of $2.43 billion at the midpoint."

Mr. Nye concluded, "Our increasingly aggregates-focused portfolio, complemented by a differentiated Specialties business with aggregates-like characteristics, positions us to deliver superior performance across a broad range of economic environments while maintaining discipline through periods of macroeconomic volatility. With SOAR 2030 underway, we remain confident in our ability to achieve our 2026 objectives while creating sustainable long-term value for shareholders."

First-Quarter Financial and Operating Results

(All financial and operating results are for continuing operations and comparisons are versus the prior-year first quarter, unless otherwise noted)

Building Materials Business

Aggregates

First-quarter aggregates shipments increased 12.4 percent to a first-quarter record 43.9 million tons, driven by organic growth and partial-quarter contributions from the operations acquired from QUIKRETE on February 23, 2026. Average selling price (ASP) of $23.70 per ton was in line with the prior-year quarter, reflecting acquisition and geographic mix headwinds, as combined organic shipments increased more than 20 percent in the Central and West Divisions, which typically carry lower ASPs and related gross margins.

Aggregates gross profit decreased $9 million, or 3 percent, to $288 million, inclusive of the $22 million charge for the impact of selling acquired inventory after markup to fair market value as part of purchase accounting and higher depreciation, depletion and amortization expense. Organic cost of goods sold per ton increased 5.6 percent and included approximately 300 basis points of headwinds from higher pass-through external freight costs and other timing-related items.

Other Building Materials

Other Building Materials revenues decreased 5 percent to $116 million. Consistent with historical first-quarter trends, the business posted a gross loss of $16 million due to seasonal winter operational shutdowns in Colorado and Minnesota.

Specialties Business

Specialties delivered revenues of $143 million and gross profit of $45 million, both quarterly records. These results reflected contributions from the 2025 Premier Magnesia, LLC acquisition and organic pricing gains, partially offset by lower organic shipments and higher energy costs, which weighed on input cost trends during the quarter.

Portfolio Optimization

On February 23, 2026, the Company completed the asset exchange with QUIKRETE. Under the terms of the transaction, Martin Marietta acquired aggregates operations producing approximately 20 million tons annually in Virginia, Missouri, Kansas and Vancouver, British Columbia, along with $450 million in cash. In exchange, QUIKRETE acquired the Company’s Midlothian cement plant, related cement terminals, Texas ready mixed concrete plants and certain nonoperating land.

On April 19, 2026, the Company entered into a definitive agreement to acquire NFM, a complementary bolt-on aggregates-led business operating in the greater St. Louis metropolitan area that produces over 8 million tons of aggregates annually. The transaction is expected to close in the second half of this year, subject to regulatory approvals and other customary closing conditions.

Discontinued Operations

In connection with the QUIKRETE asset exchange, the Company's Midlothian cement plant, related cement terminals and Texas ready mixed concrete plants were reported as discontinued operations through the transaction close date. Earnings from discontinued operations, net of income tax expense, totaled $1.4 billion and $12 million for the quarters ended March 31, 2026 and 2025, respectively. Earnings for the quarter ended March 31, 2026, included a $1.4 billion after-tax gain on the asset exchange.

Cash Generation, Capital Allocation and Liquidity

Cash provided by operating activities for the three months ended March 31, 2026, was $227 million, a first-quarter record, compared with $218 million for the prior-year period.

Cash paid for property, plant and equipment additions for the three months ended March 31, 2026, was $186 million.

During the three months ended March 31, 2026, the Company returned $251 million to shareholders through dividend payments and share repurchases. As of March 31, 2026, 10.7 million shares remained available under the current repurchase authorization.

As of March 31, 2026, the Company had $273 million of unrestricted cash and cash equivalents on hand and $1.2 billion of unused borrowing capacity on its existing credit facilities, providing substantial financial flexibility to support the execution of a robust M&A pipeline.

Full-Year 2026 Guidance

The Company's 2026 guidance provided below reflects continuing operations only and is inclusive of contributions from the operations acquired from QUIKRETE on February 23, 2026.

2026 GUIDANCE (Dollars in Millions) Low Midpoint High Revenues $7,000 $7,160 $7,320 Net earnings from continuing operations attributable to Martin Marietta $1,062 $1,115 $1,168 Adjusted EBITDA from continuing operations1 $2,360 $2,430 $2,500 Capital expenditures $550 $575 $600         Aggregates       Volume % growth2  11.0% 12.0% 13.0%Organic volume % growth2  1.0% 2.0% 3.0%ASP % growth3  1.5% 2.5% 3.5%Organic ASP % growth3  4.0% 5.0% 6.0% 1Non-GAAP financial measure; see page 16 for a reconciliation to net earnings from continuing operations attributable to Martin Marietta.2Volume change is based on total aggregates shipments and is in comparison to 2025 shipments of 198.5 million tons.3ASP change is based on aggregates average selling price and is in comparison to 2025 ASP of $23.30 per ton.
Non-GAAP Financial Information

This earnings release includes financial measures not prepared in accordance with United States generally accepted accounting principles (GAAP). Reconciliations of these non-GAAP financial measures to the most comparable GAAP measures are provided in the Appendix. Management believes these non-GAAP measures are widely used by investors to evaluate the Company’s performance and, when considered alongside the Company’s consolidated financial statements, offer valuable insight into the Company’s ongoing and expected business results. These measures also inform internal evaluations of overall business performance. Management recognizes that reported results are influenced by numerous factors, and the adjustments in non-GAAP measures may not reflect all such impacts. Additionally, these measures may not be comparable to similarly titled measures used by other companies.

Conference Call Information

Martin Marietta will discuss its first-quarter 2026 earnings results today, April 30, 2026, via a conference call and live webcast beginning at 10:00 a.m. Eastern Time. To participate, dial +1 (646) 307-1963 and enter conference ID 6288728. Participants are encouraged to dial-in at least 15 minutes prior to the scheduled start time to ensure a timely connection. A replay of the webcast will be available approximately two hours after the live broadcast concludes. Access links for both the live and archived events, along with the Q1 2026 Supplemental Information, are available on the Investors section of the Company's website.

About Martin Marietta

Martin Marietta, a member of the S&P 500 Index, is an American-based company and a leading supplier of aggregates and other building materials. Through a network of operations spanning 28 states, Canada and The Bahamas, dedicated Martin Marietta teams supply the resources necessary for building the solid foundations on which our communities thrive. Martin Marietta’s Specialties business provides high-purity magnesia and dolomitic lime products used worldwide in environmental, industrial, agricultural and specialty applications. For more information, visit www.martinmarietta.com or www.magnesiaspecialties.com.

Investor Contact:

Jacklyn Rooker
Vice President, Investor Relations
+1 (919) 510-4736
[email protected]

MLM-E.

This earnings release contains forward-looking statements under the federal securities laws, including the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties and are based on assumptions that the Company believes are reasonable, but which may differ materially from actual results. These statements reflect the Company’s current expectations or forecasts of future events. You can identify these statements because they do not relate only to historical or current facts and may use words such as “guidance”, “anticipate”, “may”, “expect”, “should”, “believe”, “will”, and other words of similar meaning in connection with future events or future performance. Any or all the Company’s forward-looking statements herein and in other publications may prove to be incorrect.

First-quarter results and trends described in this release may not necessarily be indicative of the Company’s future performance. The Company’s outlook is subject to risks and uncertainties and is based on assumptions that the Company believes are reasonable but which may be materially different from actual results. Factors that the Company currently believes could cause actual results to differ materially from the forward-looking statements, including the outlook and 2026 Guidance, include, but are not limited to: the Company’s ability to address challenges, including shipment declines caused by economic and weather events beyond its control; a widespread decline in aggregates pricing, including reduced shipment volume negatively affecting price; the termination, capping, reduction or suspension of federal and/or state fuel tax(es) or other revenue related to public construction; the impact of the Administration on the availability and timing of federal and state infrastructure investment; the level and timing of federal, state or local transportation or infrastructure or public projects funding, including any issues arising from such budgets, particularly in Texas, North Carolina, Colorado, California, Georgia, Florida, South Carolina, Arizona, Iowa and Minnesota; the United States Congress’ inability to reach agreement internally or with the Executive Branch on policy affecting the federal budget; a prolonged Federal government shutdown; the ability of states or other entities to finance approved projects through tax revenues or alternative financing; construction spending levels in the Company’s markets; reductions in defense spending and impacts on construction activity on or near military bases; declines in energy-related construction due to sustained low global oil prices or changes in oil production or capital spending, particularly in Texas; sustained high mortgage interest rates and factors leading to a slowdown in private construction in some areas; unfavorable weather, including storms, hurricanes, wildfires, timing of seasons, drought, rainfall, or extreme temperatures affecting production schedules, shipment volumes, product/geographic mix and profitability; volatility in fuel and energy costs, including diesel, electricity, natural gas and consumables like steel, explosives, tires and conveyor belts, as well as natural gas for the Company’s Specialties business; increased raw materials costs, such as bitumen; rising costs of repair and supply parts; construction labor shortages and supply chain challenges; labor relations risks, such as unionization efforts, work stoppages or strikes (particularly in jurisdictions with evolving labor laws); workforce demographics-related challenges in recruiting and retaining skilled employees, particularly for physically demanding roles in rural or less-populated areas; unexpected equipment failures, unscheduled maintenance, industrial accident or prolonged production disruption; resiliency and potential declines of the Company's construction end-use markets; potential impacts of disease outbreaks, epidemics, pandemics, or similar health threats, or fear of such events, and related economic/societal responses, affecting suppliers, customers, partners or employees; the performance of the overall United States economy; governmental regulation, including environmental laws and climate change regulations at state and federal levels; implementation of emissions taxes, carbon-pricing schemes, or stricter climate-related rules that could increase operating costs or restrict Specialties production; delays or difficulties in securing timely land use approvals or environmental permits amid changing regulatory expectations; increasing legal actions or public pressure related to environmental impact, emissions, or land use could result in reputational harm or financial liability; failure to meet evolving environmental, social, and governance (ESG) standards or investor benchmarks may affect access to capital or shareholder confidence; changes in external ESG ratings or methodologies could affect investor sentiment or index inclusion; increasing competition for water access or stricter water usage regulations could impact production, especially in drought-prone regions; outcomes of environmental or land-use proceedings, or increased costs associated with regulatory obligations, including site reclamation; elevated premiums or reduced coverage availability for property, casualty, or environmental liability could increase risk exposure; online misinformation campaigns or social media-driven reputational harm could affect stakeholder trust and market perception; transportation availability and investment in rail infrastructure impacting the movement of materials especially to the Company’s Texas, Southeast and Gulf Coast markets, the movement of essential dolomitic lime to the Company’s Specialties plant in Manistee, Michigan and its customers, and the movement of magnesite from the Company's Specialties' Gabbs, Nevada facility to processing plants in North Carolina, Indiana and Pennsylvania and the Company's customers; increased transportation costs, including increases from energy price fluctuations, fuel surcharges, and compliance with tightening regulations, including water shipments; availability of trucks and licensed drivers for material transport; availability and cost of construction equipment in the United States; weakness in the steel industry markets served by the Company’s dolomitic lime products; geopolitical risks affecting costs, supply chain, oil and gas prices, including conflict zones such as Iran, Russia-Ukraine, Israel-Middle East and potential China-Taiwan tensions; trade disputes and tariffs impacting the U.S. economy; unplanned cost changes or customer realignments affecting earnings; dependence on information technology and automated systems; risks related to third-party vendors, including exposure to cybersecurity vulnerabilities or service outages; inflation pressures on production and interest costs; customer concentration in construction markets increasing the risk of potential losses on customer receivables; demand levels, production volumes, and cost management affecting operating leverage and profitability; risks related to acquisitions, including, integration challenges and the possibility that acquisition synergies may not be realized as expected or within anticipated timeframes, potentially impacting profitability and debt covenant compliance; risks related to executive succession, retention and leadership development critical to strategy execution, including impacts from unexpected leadership changes; changes in tax laws or interpretations, including those related to acquisitions or divestitures, which could increase tax rates; violation of the Company’s debt covenants in the event of price and/or volume instability; new or revised accounting rules could impact financial reporting, asset valuations, or covenant compliance; challenges in implementing new technologies or automation systems could lead to inefficiencies, cost overruns, or operational disruptions; improper use or reliance on predictive analytics or AI-driven decision-making could result in flawed forecasting, compliance issues, or reputational damage; cybersecurity risks; downward pressure on the Company’s common stock price affecting goodwill impairment evaluations; potential credit rating downgrades to non-investment grade; and other risk factors listed from time to time in the Company’s SEC filings.

You should also review the risk factors discussed in Martin Marietta’s Annual Report on Form 10-K for the year ended December 31, 2025, and other periodic SEC filings. All forward-looking statements should be evaluated with these considerations in mind. Other risks and uncertainties not presently known or currently deemed immaterial may also affect the Company’s performance or the accuracy of forward-looking statements. The Company undertakes no obligation to update any such forward-looking statements.

    MARTIN MARIETTA MATERIALS, INC.
Unaudited Statements of Earnings       Three Months Ended   March 31,   2026  2025   (In Millions, Except Per Share Data) Revenues $1,362  $1,162 Cost of revenues  1,052   847        Gross Profit  310   315        Selling, general and administrative expenses  133   125 Acquisition, divestiture and integration expenses  5   2 Other operating expense, net  10   9 Earnings from Operations  162   179        Interest expense  56   56 Other nonoperating income, net  (11)  (9)Earnings from continuing operations before income tax expense  117   132 Income tax expense  38   28 Earnings from continuing operations  79   104 Earnings from discontinued operations, net of income tax expense  1,434   12 Consolidated net earnings  1,513   116 Less: Net earnings attributable to noncontrolling interests  —   — Net Earnings Attributable to Martin Marietta $1,513  $116        Net Earnings Attributable to Martin Marietta      Per Common Share:      Basic from continuing operations attributable to common shareholders $1.32  $1.71 Basic from discontinued operations attributable to common shareholders  23.79   0.20 Total basic attributable to common shareholders $25.11  $1.91        Diluted from continuing operations attributable to common shareholders $1.31  $1.70 Diluted from discontinued operations attributable to common shareholders  23.75   0.20 Total diluted attributable to common shareholders $25.06  $1.90        Weighted-Average Common Shares Outstanding:      Basic  60.3   60.9 Diluted  60.4   61.0    MARTIN MARIETTA MATERIALS, INC. Unaudited Reportable Segment* Financial Highlights (Continuing Operations Only)          Three Months Ended   March 31,   2026  2025   (Dollars in Millions) Revenues:      East Group $835  $758 West Group  384   317 Total Building Materials business  1,219   1,075 Specialties  143   87 Total $1,362  $1,162        Earnings (Loss) from operations:      East Group $230  $237 West Group  (43)  (42)Total Building Materials business  187   195 Specialties  35   33 Total reportable segments  222   228 Corporate  (60)  (49)Earnings from operations  162   179 Interest expense  56   56 Other nonoperating income, net  (11)  (9)Earnings from continuing operations before income tax expense $117  $132  *In connection with the closing of the QUIKRETE asset exchange during the quarter ended March 31, 2026, the Company updated its reportable segments. As of March 31, 2026, the Building Materials business includes two reportable segments: East Group (comprised of the East and Southwest divisions) and West Group (comprised of the Central and West divisions). The Company has recast all comparative prior-period information presented in this earnings release to reflect the updated reportable segments.   MARTIN MARIETTA MATERIALS, INC. Unaudited Product Line Financial Highlights (Continuing Operations Only)          Three Months Ended   March 31,   20262025   Amount  Amount   (Dollars in Millions) Revenues:      Building Materials:      Aggregates $1,142  $1,002 Other Building Materials  116   122 Less: Interproduct sales  (39)  (49)Total Building Materials business  1,219   1,075 Specialties  143   87 Total $1,362  $1,162        Gross profit (loss):      Building Materials:      Aggregates $288  $297 Other Building Materials  (16)  (19)Total Building Materials business  272   278 Specialties  45   38 Corporate  (7)  (1)Total $310  $315        Depreciation, Depletion and Amortization**:      Building Materials business:      Aggregates $131  $113 Other building materials  11   10 Total Building Materials business  142   123 Specialties  11   4 Corporate  1   1 Total $154  $128  **Depreciation, depletion and amortization reflects the expense included in Cost of revenues and does not represent total depreciation, depletion and amortization.  MARTIN MARIETTA MATERIALS, INC.Balance Sheet Data          March 31,  December 31,    2026  2025    Unaudited  Audited    (In millions)  ASSETS       Cash and cash equivalents $273  $67  Accounts receivable, net  780   723  Inventories, net  1,213   1,078  Current assets held for sale  8   1,230  Other current assets  82   95  Property, plant and equipment, net  12,642   10,290  Intangible assets, net  4,333   4,073  Operating lease right-of-use assets, net  381   367  Other noncurrent assets  785   788  Total assets $20,497  $18,711          LIABILITIES AND EQUITY       Current maturities of long-term debt $—  $30  Other current liabilities  1,034   865  Long-term debt (excluding current maturities)  5,294   5,293  Other noncurrent liabilities  2,872   2,489  Total equity  11,297   10,034  Total liabilities and equity $20,497  $18,711       MARTIN MARIETTA MATERIALS, INC.
Unaudited Statements of Cash Flows       Three Months Ended   March 31,   2026  2025   (Dollars in Millions) Cash Flows from Operating Activities:      Consolidated net earnings $1,513  $116 Adjustments to reconcile consolidated net earnings to net cash provided by operating activities:      Depreciation, depletion and amortization  167   154 Stock-based compensation expense  31   31 (Gain) Loss on divestitures and sales of assets  (1,965)  1 Deferred income taxes, net  277   3 Other items, net  3   (1)Changes in operating assets and liabilities, net of effects of acquisitions and divestitures:      Accounts receivable, net  (57)  (66)Inventories, net  (22)  (57)Accounts payable  35   24 Other assets and liabilities, net  245   13 Net Cash Provided by Operating Activities  227   218        Cash Flows from Investing Activities:      Additions to property, plant and equipment  (186)  (233)Acquisitions, net of cash acquired  20   — Proceeds from divestitures and sales of assets  452   2 Investments in limited liability company  —   (20)Other investing activities, net  7   (11)Net Cash Provided by (Used for) Investing Activities  293   (262)       Cash Flows from Financing Activities:      Proceeds from borrowings  175   — Repayments of debt  (205)  — Payments on finance lease obligations  (6)  (5)Dividends paid  (51)  (49)Repurchases of common stock  (200)  (450)Shares withheld for employees’ income tax obligations  (26)  (21)Other financing activities, net  (1)  — Net Cash Used for Financing Activities  (314)  (525)Net Increase (Decrease) in Cash and Cash Equivalents  206   (569)Cash and Cash Equivalents, beginning of period  67   670 Cash and Cash Equivalents, end of period $273  $101  MARTIN MARIETTA MATERIALS, INC.
Additional Notes

2. Revenues for the quarters ended March 31, 2026, and March 31, 2025, included the sales of products and services to customers (net of any discounts or allowances) and freight revenues for continuing operations.

3. Quarter ended March 31, 2026, gross profit, aggregates gross profit and aggregates gross profit per ton included a charge of $22 million, $22 million and $0.49 per ton, respectively, for the impact of selling acquired inventory after markup to fair value as part of acquisition accounting.

4. Earnings from operations for the quarter ended March 31, 2026, included charges of $28 million for acquisition, divestiture and integration expenses, the impact of selling acquired inventory after markup to fair value as part of acquisition accounting and an asset and portfolio rationalization charge.

5. Net earnings from continuing operations attributable to Martin Marietta and earnings per diluted share from continuing operations for the quarter ended March 31, 2026, included charges of $37 million and $0.62 per diluted share, respectively, for acquisition, divestiture and integration expenses, the impact of selling acquired inventory after markup to fair value as part of acquisition accounting, an asset and portfolio rationalization charge and the revaluation of deferred tax liabilities driven by changes in the state jurisdictional mix of the business following the QUIKRETE transaction.

MARTIN MARIETTA MATERIALS, INC.
Non-GAAP Financial Measures

Earnings from continuing operations before interest; income taxes; depreciation, depletion and amortization; earnings/loss from nonconsolidated equity affiliates; acquisition, divestiture and integration expenses; the impact of selling acquired inventory after its markup to fair value as part of acquisition accounting (Inventory Markup); and an asset and portfolio rationalization charge, or Adjusted EBITDA from continuing operations, is an indicator used by the Company and investors to evaluate the Company's operating performance from period to period. The Company has elected to add back, for purposes of its Adjusted EBITDA from continuing operations calculation, acquisition, divestiture and integration expenses and the Inventory Markup only for transactions with consideration of at least $2.0 billion for the Building Materials business or $200 million for the Specialties business.

Adjusted EBITDA from continuing operations is not defined by accounting principles generally accepted in the United States (GAAP) and, as such, should not be construed as an alternative to net earnings attributable to Martin Marietta, earnings from operations, or operating cash flow. For further information on Adjusted EBITDA, refer to the Company’s website at www.martinmarietta.com.

Reconciliation of Net Earnings from Continuing Operations Attributable to Martin Marietta to Adjusted EBITDA from Continuing Operations

  Three Months Ended   March 31,   2026  2025   (Dollars in Millions) Net earnings from continuing operations attributable to Martin Marietta $79  $104 Add back:      Interest expense, net of interest income  54   51 Income tax expense for controlling interests  38   28 Depreciation, depletion and amortization expense and earnings/loss from nonconsolidated equity affiliates  165   136 Acquisition, divestiture and integration expenses  4   — Impact of selling acquired inventory after markup to fair value as part of acquisition accounting  22   — Asset and portfolio rationalization charge  2   — Adjusted EBITDA from continuing operations $364  $319  MARTIN MARIETTA MATERIALS, INC.
Non-GAAP Financial Measures

Reconciliation of 2026 Net Earnings from Continuing Operations Attributable to Martin Marietta Guidance to the 2026 Adjusted EBITDA from Continuing Operations Guidance

  Mid-Point of Range   (Dollars in Millions) Net earnings from continuing operations attributable to Martin Marietta $1,115 Add back:   Interest expense, net of interest income  200 Income tax expense for controlling interests  306 Depreciation, depletion and amortization expense and earnings/loss from nonconsolidated equity affiliates  737 Acquisition, divestiture and integration expenses  5 Impact of selling acquired inventory after markup to fair value as part of acquisition accounting  65 Asset and portfolio rationalization charge  2 Adjusted EBITDA from continuing operations $2,430  MARTIN MARIETTA MATERIALS, INC.
Non-GAAP Financial Measures

Adjusted earnings per diluted share from continuing operations is a non-GAAP financial measure used by the Company and by investors to evaluate operating performance and enhance comparability across reporting periods. The Company calculates Adjusted earnings per diluted share from continuing operations by excluding the impact of certain items that management believes are not indicative of the Company's underlying performance from period to period, including impacts directly related to acquisition and divestiture activity as well as asset and portfolio rationalization charges. The Company has elected to add back, for purposes of its Adjusted earnings per diluted share from continuing operations calculation, acquisition, divestiture and integration expenses, the impact of selling acquired inventory after its markup to fair value as part of acquisition accounting and the revaluation of deferred tax liabilities, only for transactions with consideration of at least $2.0 billion for the Building Materials business or $200 million for the Specialties business.

Adjusted earnings per diluted share from continuing operations is not defined by accounting principles generally accepted in the United States (GAAP) and, as such, should not be construed as an alternative to earnings per diluted share from continuing operations. For further information on Adjusted earnings per diluted share from continuing operations, refer to the Company’s website at www.martinmarietta.com.

Reconciliation of Earnings per Diluted Share from Continuing Operations to Adjusted Earnings per Diluted Share from Continuing Operations

  Three Months Ended   March 31,   2026  2025   (Dollars per Diluted Share) Earnings per diluted share from continuing operations $1.31  $1.70 Add back:      Acquisition, divestiture and integration expenses  0.06   — Impact of selling acquired inventory after markup to fair value as part of acquisition accounting  0.28   — Asset and portfolio rationalization charge  0.02   — Revaluation of deferred tax liabilities  0.26   — Adjusted earnings per diluted share from continuing operations $1.93  $1.70 

Martin Marietta (MLM - Free Report) came out with quarterly earnings of $1.93 per share, beating the Zacks Consensus Estimate of $1.76 per share. This compares to earnings of $1.9 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +9.66%. A quarter ago, it was expected that this seller of granite, limestone, sand and gravel would post earnings of $4.68 per share when it actually produced earnings of $3.85, delivering a surprise of -17.74%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Martin Marietta, which belongs to the Zacks Building Products - Concrete and Aggregates industry, posted revenues of $1.36 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 4.43%. This compares to year-ago revenues of $1.35 billion. The company has topped consensus revenue estimates just once over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Martin Marietta shares have lost about 1.6% since the beginning of the year versus the S&P 500's gain of 4.2%.

What's Next for Martin Marietta?While Martin Marietta has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Martin Marietta was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $5.18 on $1.85 billion in revenues for the coming quarter and $19.07 on $7 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products - Concrete and Aggregates is currently in the bottom 21% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Eagle Materials (EXP - Free Report) , has yet to report results for the quarter ended March 2026. The results are expected to be released on May 19.

This maker of gypsum wallboard and cement is expected to post quarterly earnings of $1.47 per share in its upcoming report, which represents a year-over-year change of -29.3%. The consensus EPS estimate for the quarter has been revised 1% higher over the last 30 days to the current level.

Eagle Materials' revenues are expected to be $456.22 million, down 3% from the year-ago quarter.