Yahoo Finance

• Fourth Quarter Consolidated Gross Profit: $489 million.

• Fourth Quarter Consolidated Adjusted EBITDA: $545 million, an increase of 8%.

• Fourth Quarter Consolidated Adjusted EBITDA Margin: 33%, an improvement of 210 basis points.

• Fourth Quarter Aggregates Gross Profit Per Ton: $7.92, an increase of 12%.

• Fourth Quarter Aggregates Gross Margin: 33%, an improvement of 120 basis points.

• Full Year Aggregates Revenues: $4.5 billion, a 5% increase.

• Full Year Aggregates Gross Profit: $1.4 billion, a 5% increase.

• Full Year Aggregates Gross Profit Per Ton: $7.58, an increase of over 9%.

• Full Year Magnesia Specialties Revenues: $320 million, a 2% increase.

• Full Year Magnesia Specialties Gross Profit: $107 million, a 10% increase.

• Full Year Building Materials Revenues: $6.2 billion, a 4% decrease.

• Full Year Building Materials Gross Profit: $1.8 billion, a 6% decrease.

• Full Year Cement and Concrete Revenues: Decreased 29% to $1 million.

• Full Year Cement and Concrete Gross Profit: Decreased 40% to $260 million.

• Full Year Asphalt and Paving Revenues: Decreased 2% to $869 million.

• Full Year Asphalt and Paving Gross Profit: Decreased 7% to $101 million.

• Fourth Quarter Cash Flows from Operations: $685 million, an increase of 23%.

• 2024 Shareholder Returns: $639 million through dividends and share repurchases.

• Net Debt-to-EBITDA Ratio: 2.3 times.

• Warning! GuruFocus has detected 2 Warning Sign with BOM:543064.

Release Date: February 12, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Martin Marietta Materials Inc (NYSE:MLM) delivered record aggregates financial performance in 2024, with aggregates revenues and gross profit both increasing by 5%.

• The company successfully completed nearly $6 billion of portfolio-enhancing transactions, including three aggregates bolt-on acquisitions in key growth areas.

• MLM achieved its best full-year safety incident rates in the company's history, marking its eighth consecutive year of a world-class lost time incident rate.

• The company reported record fourth-quarter consolidated gross profit of $489 million and consolidated adjusted EBITDA of $545 million, reflecting an 8% increase.

• MLM's strong balance sheet, with a net debt-to-EBITDA ratio of 2.3 times, provides ample flexibility for continued acquisitive growth and shareholder returns.

Negative Points

• The Building Materials business experienced a 4% decrease in full-year 2024 revenues and a 6% decrease in gross profit due to divestitures and shipment declines.

• The ready-mix concrete business faced margin compression from Q2 through year-end due to higher input costs outpacing pricing growth.

• The company anticipates a slowdown in private construction due to the higher interest rate environment, impacting single-family residential demand.

• There is uncertainty regarding the impact of tariffs, which could either enhance or lower the company's profitability depending on the situation.

• The company's guidance for 2025 is conservative due to uncertainties related to monetary policy and potential policy fluctuations.