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Martin Marietta Materials (MLM) investor relations material
Martin Marietta Materials Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record financial, operational, and safety performance in 2025, with aggregates and specialties businesses delivering record results despite a challenging construction environment.
Full-year 2025 revenues reached $6.2B, up 9% year-over-year, with adjusted EBITDA from continuing operations at $2.1B, a 17% increase; net earnings from continuing operations were $1.0B, down 45% due to nonrecurring items.
Advanced SOAR 2030 strategic plan, executed portfolio optimization, and maintained a strong balance sheet to support future growth.
Returned $647M to shareholders via dividends and share repurchases in 2025.
Achieved world-class safety metrics for lost-time and total injury incident rates.
Financial highlights
2025 revenues from continuing operations rose 9% to $6.15 billion; gross profit up 15% to $1.89 billion; adjusted EBITDA margin from continuing operations was 34%, up 229 bps.
Aggregates revenues increased 11% to $5 billion, with gross profit up 16% to $1.7 billion and gross margin expanding to 34%.
Specialties business posted record revenues of $441 million and gross profit of $137 million; Q4 specialties revenues up 72% to $133M.
Cash flow from operations increased 22% to $1.8 billion.
Net earnings from continuing operations fell 45% to $990 million due to prior-year nonrecurring divestiture gain.
Outlook and guidance
2026 revenue guidance midpoint is $6.60B, with adjusted EBITDA from continuing operations expected at $2.24B–$2.31B.
Aggregates shipments expected to rise 1–3% and average selling price per ton to increase 4–6% in 2026.
Net earnings from continuing operations projected at $1.04–$1.24 billion.
Planned capital expenditures of $550–$600 million, a reduction from prior year.
Infrastructure and nonresidential demand remain strong, while residential construction is expected to be soft.
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