Exhibit 99.1

 

 

 

 

MARTIN MARIETTA REPORTS FIRST-QUARTER 2021 RESULTS

 

Record First-Quarter Consolidated Revenues, Gross Profit and Earnings per Diluted Share

 

Upstream Aggregates and Cement Businesses Delivered Pricing Gains

 

Aggregates Unit Profitability Improved 34 Percent

 

Strengthening Product Demand Seen Across the Enterprise

 

Disciplined Execution of SOAR 2025 Underway with the Acquisition of Tiller Corporation

 

RALEIGH, N.C. (May 4, 2021) – Martin Marietta Materials, Inc. (NYSE: MLM) (“Martin Marietta” or the “Company”), a leading national supplier of aggregates and heavy building materials, today reported results for the first quarter ended March 31, 2021.

The Company also announced that it acquired Minnesota-based Tiller Corporation (“Tiller”) on April 30, 2021. The Tiller business will be integrated into the Company’s Central Division, complementing Martin Marietta’s product offerings, broadening its geographic reach and creating a leading aggregates position in the Minneapolis/St. Paul region.  

First-Quarter Highlights

 

 

Quarter Ended March 31,

 

($ in millions, except per share)

 

2021

 

 

2020

 

Products and services revenues 1

 

$

921.9

 

 

$

891.0

 

Building Materials business

 

$

856.6

 

 

$

831.1

 

Magnesia Specialties

 

$

65.3

 

 

$

59.9

 

Total revenues 2

 

$

982.4

 

 

$

958.2

 

Gross profit

 

$

174.7

 

 

$

142.4

 

Earnings from operations

 

$

99.3

 

 

$

57.8

 

Net earnings attributable to Martin Marietta

 

$

65.3

 

 

$

25.9

 

Adjusted EBITDA 3

 

$

204.4

 

 

$

149.0

 

Earnings per diluted share

 

$

1.04

 

 

$

0.41

 

 

 

1

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.

 

2

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

 

3

Earnings before interest; income taxes; depreciation, depletion and amortization; and the 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 4, 2021 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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