Martin Marietta Q1 Revenues Up 17%, Shipments Rise 12% to Record 43.9M Tons
MLM•Martin Marietta reported first-quarter revenues rose 17% to $1.362B with aggregates shipments up 12% to 43.9M tons and adjusted EBITDA gained 14%. The company completed a $450M asset exchange with QUIKRETE, agreed to acquire New Frontier Materials, and reaffirmed full-year adjusted EBITDA guidance of $2.43B.
1. Q1 Financial Results
Revenues reached $1.362B, up 17% year-over-year, while adjusted EBITDA climbed 14% to $364M. GAAP net earnings from continuing operations declined 24% to $79M, with adjusted EPS increasing 14% to $1.93 per share.
2. Operational Performance
Aggregates shipments set a first-quarter record at 43.9M tons, up 12%, driven by a 7% organic increase and early construction season demand in the Midwest and Mountain regions. Average selling price held at $23.70 per ton, with higher external freight costs and acquisition mix pressuring per-ton margins.
3. Portfolio Transactions
On February 23, the company closed a $450M asset exchange with QUIKRETE, acquiring aggregates operations producing 20M tons annually and generating cash for redeployment. On April 19, it signed a definitive agreement to acquire New Frontier Materials, adding over 8M tons of strategically located reserves in the St. Louis area, subject to regulatory approvals.
4. Guidance and Outlook
Management reaffirmed full-year 2026 adjusted EBITDA guidance of $2.43B, citing continued strong product demand, April price increases, and ongoing optimization under its SOAR 2030 strategy. The company also reported its best first-quarter safety performance, underscoring commitment to operational excellence.
