01—Abstract
Summary
Summary of the 10-Q filed April 30, 2026. Cited figures are marked; the original filing is the authoritative source.
Martin Marietta Materials, Inc. reported first-quarter 2026 results from continuing operations with revenues of $1.362 billiona, up from $1.162 billion a year earlier, and gross profit of $310 million versus $315 million.
Earnings from continuing operations attributable to Martin Marietta were $79 millionb, or $1.31 per diluted share, compared with $104 million, or $1.70 per diluted share, in the prior-year quarter. Results included after-tax charges of $37 million, or $0.62 per diluted share, tied to acquisition, integration and divestiture expenses, the inventory markup from acquisition accounting, an asset and portfolio rationalization charge, and a revaluation of deferred tax liabilities that drove the effective tax rate to 32.3% from 21.2%. Adjusted EBITDA from continuing operations was $364 million, versus $319 million.
Total net earnings attributable to Martin Marietta were $1.513 billionc, or $25.06 per diluted share, driven by discontinued operations of $1.434 billion, which reflect the after-tax gain on the February 23, 2026 divestiture of the Midlothian cement plant, related terminals and Texas ready mixed concrete plants to QUIKRETE Holdings, Inc. in an asset exchange. In that exchange, the company acquired aggregates operations producing approximately 20 million tons annually, an asphalt and paving business in Vancouver, British Columbia, and $450 million in cash. The acquisition added $3.175 billion of total consideration, including $2.0 billion of mineral reserves within property, plant and equipment, and the purchase accounting remains preliminary.
Aggregates shipments rose 12.4% to 43.9 million tons, while average selling price of $23.70d per ton was in line with the prior year. Net debt was not stated directly, but total debt was $5.294 billion, cash was $273 million, and the company had $1.2 billion of unused borrowing capacity under its revolving and trade receivable facilities.
Operating cash flow was $227 million, and the company repurchased $200 million of stock. A pending agreement to acquire New Frontier Materials, an aggregates business producing over 8 million tons annually near St. Louis, was announced April 19, 2026 and is expected to close in the second half of 2026.
02—Key points
Key Highlights
- Revenues of $1.362 billion versus $1.162 billion in Q1 2025; gross profit of $310 million versus $315 million.
- Earnings from continuing operations of $79 million, or $1.31 per diluted share, versus $104 million, or $1.70 per diluted share, after $37 million ($0.62 per diluted share) of after-tax charges.
- Net earnings of $1.513 billion, or $25.06 per diluted share, including $1.434 billion from discontinued operations, primarily the after-tax gain on the QUIKRETE asset exchange.
- Adjusted EBITDA from continuing operations of $364 million versus $319 million.
- Aggregates shipments up 12.4% to 43.9 million tons, with ASP of $23.70 per ton in line with prior year; Specialties revenues rose to $143 million from $87 million, and gross profit rose 17% to $45 million.
- Acquired QUIKRETE aggregates assets for $3.175 billion total consideration, including $2.0 billion of mineral reserves; goodwill of $220 million recorded on a preliminary basis.
- Cash of $273 million and total debt of $5.294 billion at March 31, 2026; $200 million of share repurchases and $51 million of dividends paid during the quarter.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in Q1 FY2026, Martin Marietta Materials kept $1.11.
- Revenue$1.36B100.0%
- Cost of revenue−$1.05B77.2%
- Gross profit$310.0M22.8%
- Operating costs−$148.0M10.9%
- Operating income$162.0M11.9%
- Interest, other & tax$1.35B99.2%
- Net income$1.51B111.1%
04—Financials
Financial Highlights
Figures from 10-QQ1 FY2026filed April 30, 2026Financial Statements
Q1 FY2026 against Q1 FY2025
| Line item | Q1 FY2026Q1 FY2025 | Change |
|---|---|---|
| Revenue | $1.36B$1.16B | +17.2% |
| Cost of Revenue | $1.05B$847.00M | +24.2% |
| Gross Profit | $310.00M$315.00M | −1.6% |
| SG&A Expenses | $133.00M$125.00M | +6.4% |
| Operating Income | $162.00M$179.00M | −9.5% |
| Interest Expense | $56.00M$56.00M | 0.0% |
| Net Income | $1.51B$116.00M | +1204.3% |
| EPS (Basic) | $25.11$1.91 | +1214.7% |
| EPS (Diluted) | $25.06$1.90 | +1218.9% |
| Shares Outstanding (Basic) | 60.30M60.90M | −1.0% |
| Shares Outstanding (Diluted) | 60.40M61.00M | −1.0% |
05—Questions
Frequently Asked Questions
What drove the large increase in net earnings this quarter?
Net earnings attributable to Martin Marietta rose to $1.513 billion from $116 million, primarily because earnings from discontinued operations were $1.434 billion, including the after-tax gain on the February 23, 2026 divestiture of the Midlothian cement plant, related terminals and Texas ready mixed concrete plants. Earnings from continuing operations declined to $79 million from $104 million.
How did the QUIKRETE asset exchange change the company's business?
The company acquired aggregates operations producing approximately 20 million tons annually in Virginia, Missouri, Kansas and Vancouver, British Columbia, plus an asphalt and paving business in Vancouver and $450 million in cash. It divested its sole cement business and remaining Texas ready mixed concrete operations, and it updated its reportable segments to East Group, West Group and Specialties.
Why did the effective tax rate increase?
The effective income tax rate for continuing operations was 32.3% compared with 21.2% in the prior-year quarter. The filing attributes the increase primarily to the revaluation of deferred tax liabilities driven by changes in the state jurisdictional mix following the QUIKRETE transaction.
What is the company's liquidity position and capital return activity?
The company had $273 million of cash and $1.2 billion of unused borrowing capacity under its $800 million Revolving Facility and $400 million Trade Receivable Facility, with no borrowings outstanding under either at March 31, 2026. It repurchased 325,455 shares for $200 million and paid $51 million in dividends, and 10.7 million shares remained under its repurchase authorization.
What is the pending New Frontier Materials acquisition?
On April 19, 2026, the company entered into a definitive agreement to acquire New Frontier Materials, a bolt-on aggregates-led business in the greater St. Louis area producing over 8 million tons annually. The transaction is expected to close in the second half of 2026, subject to regulatory approvals and other customary conditions.
06—Continue