Martin Marietta Materials, Inc. (NYSE: MLM) on July 30, 2026, reported results for the second quarter ended June 30, 2026, saying revenues rose 21% to a new record and Adjusted EBITDA from continuing operations increased 13%. The performance reflects continued momentum in U.S. construction materials demand, supported in part by federal infrastructure spending under the 2021 Infrastructure Investment and Jobs Act, which authorized approximately $1.2 trillion in investment across transportation, water, broadband and energy infrastructure.

The company raised its full-year 2026 revenue guidance to $7.2 billion to $7.4 billion and reaffirmed its full-year Adjusted EBITDA from continuing operations guidance of $2.36 billion to $2.5 billion.

Ward Nye, chair, president and CEO of Martin Marietta, said the quarter reflected strong organic performance and acquisition contributions, with infrastructure and heavy nonresidential construction activity supporting shipment trends across much of the company's footprint. He also said the company delivered its safest first half on record, based on Total Injury Incident and Lost-Time Incident Rates.

Nye said Martin Marietta's expanded enterprise review identified opportunities expected to generate about $350 million of annualized cash flow improvements as the company optimizes its asset base, network footprint and sustaining capital requirements. He added that disciplined inventory management and reduced capital spending unlocked more than $200 million of cash year to date compared with the prior-year period.

The company also highlighted several portfolio actions during the quarter. On June 27, 2026, Martin Marietta entered into a definitive agreement to combine with Lhoist North America (LNA), which it described as the nation's leading producer of high-calcium lime, dolomitic lime and industrial mineral products. The transaction is valued at approximately $13.5 billion and is expected to close in the second half of 2026, subject to regulatory approvals and other customary closing conditions. The deal would rank among the largest in the U.S. construction materials sector in recent years and would substantially expand Martin Marietta's lime and industrial minerals platform, complementing its existing Specialties business. Martin Marietta said the revised 2026 guidance does not include any contribution from LNA because the transaction has not closed.

On May 15, 2026, the company completed the acquisition of New Frontier Materials (NFM), which expanded its aggregates platform along the I-70 corridor. The NFM acquisition and the earlier QUIKRETE asset exchange are part of a broader wave of consolidation in the U.S. aggregates and heavy building materials industry, where producers have sought to build scale, diversify geographies and capture efficiencies amid robust public-infrastructure demand.

Second-quarter operating results

Martin Marietta said second-quarter aggregates shipments increased 17.0% to a record 61.6 million tons. The company said the increase reflected a full quarter of contributions from operations acquired from Quikrete Holdings, Inc. (QUIKRETE), a partial quarter of contributions from NFM and organic shipment growth of 2.3%, supported by strong infrastructure and heavy nonresidential demand.

Aggregates average selling price fell 2.0% to $22.74 per ton, primarily because of acquisition-related mix headwinds. Organic ASP increased 2.1%, while organic mix-adjusted ASP increased 3.7%, reflecting continued shipment momentum in the Central and West Divisions.

Aggregates gross profit decreased 3% to $418 million, including a $52 million non-cash charge related to fair value purchase accounting inventory step-up adjustments. Cost of goods sold per ton increased 3.6%, including 150 basis points from higher pass-through external freight costs.

Other Building Materials revenues increased 12% to $303 million, while gross profit decreased 14% to $34 million. The company said the decline in gross profit was driven by higher ready mix concrete raw material costs, along with lower organic paving revenues and job margins.

The Specialties business reported quarterly records for both revenues and gross profit. Specialties revenues were $152 million and gross profit was $50 million, supported by the July 2025 acquisition of Premier Magnesia, LLC and organic pricing gains across all products.

Martin Marietta said its lime business posted 4.0% ASP growth, or 5.0% on a mix-adjusted basis, and 0.9% shipment growth, resulting in 7% gross profit growth.

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 in the prior-year period. The company said the change primarily reflected higher income tax payments related to the taxable gain recognized on the February 2026 divestiture of the Midlothian cement business and its remaining Texas ready mix concrete operations in connection with the QUIKRETE asset exchange completed in February 2026.

Cash paid for property, plant and equipment additions in the first half was $314 million.

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

At June 30, 2026, Martin Marietta had $112 million of unrestricted cash and cash equivalents and $742 million of unused borrowing capacity under 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.

Conference call

Martin Marietta said it will discuss second-quarter 2026 earnings on July 30, 2026, in a conference call and live webcast beginning at 10:00 a.m. Eastern Time. The dial-in number is +1 (646) 307-1963, with conference ID 7217352. The company said an on-demand replay will be posted to its website approximately two hours after the live broadcast ends and will remain available for one year.

About Martin Marietta

Martin Marietta, a member of the S&P 500 Index, is an American-based company and a supplier of aggregates and other building materials. Through operations spanning 29 states, Canada and The Bahamas, the company provides materials used to build infrastructure and communities. Martin Marietta's Specialties business supplies high-purity magnesia and dolomitic lime products used in environmental, industrial, agricultural and specialty applications. More information is available at www.martinmarietta.com or www.magnesiaspecialties.com.