Martin Marietta Materials, Inc. (NYSE:MLM) reported its third-quarter 2025 revenue of $1.846 billion on Tuesday, a 12% year-over-year (Y/Y) increase but below the $2.061 billion analyst estimate.
Details
Net earnings from continuing operations rose 22% Y/Y to $361 million, while EPS from continuing operations reached $5.97.
Adjusted EBITDA from continuing operations grew 22% Y/Y to $667 million. Gross profit increased 19% Y/Y to $611 million.
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Cash from operating activities for the nine months of 2025 totaled $1.2 billion, vs. $773 million a year earlier.
The company returned $597 million to shareholders through dividends and repurchases during the nine months ended September 30, 2025.
It ended the quarter with $57 million in unrestricted cash and cash equivalents and $1.1 billion in available credit.
Segment Performance
The Building Materials business delivered $1.7 billion in revenue, up 10% Y/Y, with gross profit rising 16% Y/Y to $585 million.
Aggregates revenue increased 17% Y/Y to $1.46 billion, supported by an 8% Y/Y rise in average selling price to $23.24 per ton, with an 8% Y/Y increase in shipments.
Aggregates' gross profit climbed 21% Y/Y to $531 million, with margin expanding 142 basis points Y/Y to 36% in the quarter.
Management Commentary
“Martin Marietta delivered outstanding third-quarter results, led by record-setting performance in our aggregates business, which achieved all-time quarterly records for revenues, gross profit, gross profit per ton and gross margin, underscoring the efficacy of our SOAR plan and the compounding benefits of diligently executing our aggregates-led product strategy,” said Ward Nye, chair and CEO of Martin Marietta.
“These exceptional results were further complemented by record quarterly revenues and third-quarter gross profit in our Specialties business. Notably, we also achieved our best year-to-date safety performance in our Company’s history, as measured by total reportable and lost time incident rates.”
Outlook
Martin Marietta Materials has reduced its FY25 sales guidance from $6.82 billion–$7.12 billion to $6.075 billion–$6.25 billion, versus the $6.978 billion consensus estimate.
Net earnings attributable to Martin Marietta are expected to be $985 million-$1.015 billion in FY25.
Adjusted EBITDA guidance is expected to be $2.06 billion to $2.10 billion.
Martin Marietta also expects aggregates ASP growth of 6.8% to 7.8% and volume growth of ca. 4%.
Price Action: MLM shares were trading 0.37% lower at $617.00 premarket at the last check on Tuesday.
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