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Martin Marietta Materials Inc (MLM) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

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MLM Quarterly Reports

Martin Marietta Materials Inc

CIK: 916076 Ticker: MLM

Exhibit 99.1

 

 

 

 

MARTIN MARIETTA REPORTS FIRST-QUARTER 2020 RESULTS

 

LONG-TERM FUNDAMENTALS OF BUSINESS REMAIN POSITIVE

Shipments and Pricing Increased Across Majority of Building Materials Business in the First Quarter

 

Cement and Magnesia Specialties Delivered First-Quarter Margin Expansion

 

Company Strengthened Balance Sheet through Long-Term Debt Offering in Early March

 

Company Well Prepared for COVID-19 Challenging Operating Conditions

 

Withdraws Previously-Issued Full-Year 2020 Guidance in Light of COVID-19 Uncertainty

 

RALEIGH, N.C. (May 5, 2020) – Martin Marietta Materials, Inc. (NYSE:MLM) (“Martin Marietta” or the “Company”) today reported results for the first quarter ended March 31, 2020.  

Highlights include:

 

Quarter Ended March 31,

 

($ in millions, except per share)

2020

 

 

2019

 

Total revenues 1

$

958.2

 

 

$

939.0

 

Products and services revenues 2

$

891.0

 

 

$

878.3

 

Building Materials business

$

831.1

 

 

$

809.1

 

Magnesia Specialties business

$

59.9

 

 

$

69.2

 

Gross profit

$

142.4

 

 

$

142.9

 

Earnings from operations

$

57.8

 

 

$

69.2

 

Net earnings attributable to Martin Marietta

$

25.9

 

 

$

42.9

 

Adjusted EBITDA 3

$

149.0

 

 

$

158.2

 

Earnings per diluted share

$

0.41

 

 

$

0.68

 

 

 

1

Total revenues include the sales of products and services to customers (net of any discounts or allowances) and freight revenues.

 

2

Products and services revenues include the sales of aggregates, cement, ready mixed concrete, asphalt and Magnesia Specialties products, and paving services to customers, and exclude related freight revenues.

 

3

Earnings Before Interest, Taxes, Depreciation, Depletion and Amortization and the Noncash Earnings/Loss from Nonconsolidated Equity Affiliates, or Adjusted EBITDA, is a non-GAAP financial measure. See Appendix to this earnings release for a reconciliation to net earnings attributable to Martin Marietta.

 


- MORE -

 


The following information was filed by Martin Marietta Materials Inc (MLM) on Tuesday, May 5, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Martin Marietta Materials Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Earnings And Comprehensive Earnings (Unaudited)
Consolidated Statements Of Total Equity (Parenthetical) (Unaudited)
Consolidated Statements Of Total Equity (Unaudited)
Business Segments
Business Segments (Tables)
Business Segments - Additional Information (Detail)
Business Segments - Financial Data For Continuing Operations For Company's Reportable Business Segments (Detail)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Detail)
Financial Instruments
Financial Instruments - Additional Information (Detail)
Income Taxes
Income Taxes - Additional Information (Detail)
Inventories, Net
Inventories, Net (Tables)
Inventories, Net - Schedule Of Inventories Net (Detail)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Additional Information (Detail)
Long-Term Debt - Long-Term Debt (Detail)
Long-Term Debt - Long-Term Debt (Parenthetical) (Detail)
Other Operating Expenses And (Income), Net
Other Operating Expenses And (Income), Net - Additional Information (Detail)
Pension And Postretirement Benefits
Pension And Postretirement Benefits (Tables)
Pension And Postretirement Benefits - Schedule Of Components Of Net Periodic Benefit Cost (Credit) (Detail)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Additional Information (Detail 1)
Revenue Recognition - Additional Information (Detail)
Revenue Recognition - Schedule Of Company's Total Revenues By Category For Each Reportable Segment (Detail)
Revenue Recognition - Summary Of Information About The Company's Contract Balances (Detail)
Revenues And Gross Profit
Revenues And Gross Profit (Tables)
Revenues And Gross Profit - Total Revenues And Gross Profit By Product Line (Detail)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Additional Information (Detail)
Significant Accounting Policies - Basic And Diluted Earnings Per Common Share (Detail)
Significant Accounting Policies - Changes In Accumulated Other Comprehensive Loss Net Of Tax (Detail)
Significant Accounting Policies - Comprehensive Earnings Attributable To Martin Marietta Materials Incorporated (Detail)
Significant Accounting Policies - Noncurrent Deferred Tax Assets Recorded In Accumulated Other Comprehensive Loss (Detail)
Significant Accounting Policies - Reclassifications Out Of Accumulated Other Comprehensive Loss (Detail)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (Tables)
Supplemental Cash Flow Information - Narrative (Detail)
Supplemental Cash Flow Information - Schedule Of Noncash Investing And Financing Activities (Detail)
Supplemental Cash Flow Information -Supplemental Disclosures Of Cash Flow Information (Detail)

Material Contracts, Statements, Certifications & more

Martin Marietta Materials Inc provided additional information to their SEC Filing as exhibits

Ticker: MLM
CIK: 916076
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-20-021286
Submitted to the SEC: Tue May 05 2020 4:23:11 PM EST
Accepted by the SEC: Tue May 05 2020
Period: Tuesday, March 31, 2020
Industry: Mining And Quarrying Of Nonmetallic Minerals No Fuels

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