01—Abstract
Summary
Summary of the 8-K filed April 30, 2026. Cited figures are marked; the original filing is the authoritative source.
Martin Marietta Materials, Inc. reported first-quarter 2026 results for the quarter ended March 31, 2026, in a press release furnished as Exhibit 99.1.
Revenues rose 17% to $1,362 milliona, with aggregates shipments up 12.4% to a first-quarter record 43.9 million tons, driven by organic growth and partial-quarter contributions from the operations acquired from QUIKRETE on February 23, 2026. Adjusted EBITDA from continuing operations increased 14% to $364 million and Adjusted earnings per diluted share from continuing operations rose 14% to $1.93. GAAP earnings per diluted share from continuing operations fell 23% to $1.31, reflected charges including a $22 million inventory markup charge and a $0.26 per diluted share revaluation of deferred tax liabilities.
Net earnings attributable to Martin Marietta were $1,513 millionb, including $1,434 million in earnings from discontinued operations that included a $1.4 billion after-tax gain on the QUIKRETE asset exchange. The company reaffirmed its full-year 2026 guidance, with Adjusted EBITDA from continuing operations of $2.36 billion to $2.50 billion (midpoint $2.43 billion) and revenues of $7.00 billion to $7.32 billion. Management cited strong April demand and April 1 price increases.
The company also signed a definitive agreement on April 19, 2026 to acquire New Frontier Materials, an aggregates-led producer in the greater St. Louis area that produces over 8 million tons annually, with closing expected in the second half of 2026 subject to regulatory approvals. Cash provided by operating activities was a first-quarter record $227 millionc, and the company returned $251 million to shareholders through dividends and share repurchases. At March 31, 2026, it held $273 million of unrestricted cash and $1.2 billion of unused credit facility capacity.
02—Key points
Key Highlights
- Revenues increased 17% to $1,362 million; aggregates shipments rose 12.4% to a first-quarter record 43.9 million tons.
- Adjusted EBITDA from continuing operations rose 14% to $364 million; Adjusted EPS from continuing operations rose 14% to $1.93.
- GAAP diluted EPS from continuing operations fell 23% to $1.31, affected by acquisition-related charges and a $0.26 per share deferred tax revaluation.
- Net earnings attributable to Martin Marietta were $1,513 million, driven by $1,434 million in discontinued operations earnings including a $1.4 billion after-tax gain on the QUIKRETE asset exchange.
- Full-year 2026 guidance reaffirmed: Adjusted EBITDA from continuing operations of $2.36 billion to $2.50 billion, midpoint $2.43 billion.
- Agreed on April 19, 2026 to acquire New Frontier Materials, a St. Louis-area aggregates producer of over 8 million tons annually, expected to close in the second half of 2026.
- Operating cash flow of $227 million was a first-quarter record; $251 million was returned to shareholders and $273 million of unrestricted cash was on hand at March 31, 2026.
03—Questions
Frequently Asked Questions
What was the QUIKRETE asset exchange and how did it affect results?
On February 23, 2026, the company completed an Internal Revenue Code Section 1031 asset exchange with QUIKRETE Holdings, Inc. Martin Marietta acquired aggregates operations producing approximately 20 million tons annually in Virginia, Missouri, Kansas and Vancouver, British Columbia, plus $450 million in cash. It gave up its Midlothian cement plant, related cement terminals, Texas ready mixed concrete plants and certain nonoperating land. The Midlothian and Texas operations were reported as discontinued operations, and the quarter included a $1.4 billion after-tax gain on the exchange.
Why did GAAP EPS decline while Adjusted EPS grew?
GAAP diluted EPS from continuing operations fell to $1.31 from $1.70, while Adjusted EPS from continuing operations rose 14% to $1.93. The difference reflects add-backs of $0.06 for acquisition, divestiture and integration expenses, $0.28 for the impact of selling acquired inventory after markup, $0.02 for an asset and portfolio rationalization charge, and $0.26 for the revaluation of deferred tax liabilities.
What is the status of the New Frontier Materials acquisition?
On April 19, 2026, the company entered into a definitive agreement to acquire New Frontier Materials, a complementary bolt-on aggregates-led business in the greater St. Louis metropolitan area that produces over 8 million tons of aggregates annually. The transaction is expected to close in the second half of 2026, subject to regulatory approvals and other customary closing conditions.
Did the company change its 2026 outlook?
No. The company reaffirmed its full-year 2026 guidance, including revenues of $7.00 billion to $7.32 billion, net earnings from continuing operations attributable to Martin Marietta of $1,062 million to $1,168 million, and Adjusted EBITDA from continuing operations of $2.36 billion to $2.50 billion. Management cited continued strong April product demand and the impact of April 1 price increases.
How did aggregates pricing and margins perform in the quarter?
Aggregates average selling price was $23.70 per ton, in line with $23.77 a year earlier, reflecting acquisition and geographic mix headwinds because the Central and West Divisions carry lower ASPs. Aggregates gross profit fell 3% to $288 million, and gross profit per ton fell 14% to $6.56. The results included a $22 million inventory markup charge and higher depreciation, depletion and amortization, and organic cost of goods sold per ton rose 5.6%.
04—Continue