Martin Marietta Materials Inc. has completed its previously announced acquisition of 20 active aggregates operations in Alabama, South Carolina, South Florida, Tennessee and Virginia from affiliates of Blue Water Industries LLC (BWI Southeast) for $2.05 billion in cash. This portfolio-optimizing transaction improves the company’s product mix, margin profile and durability through economic cycles by adding another pure aggregates business to…
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U.S. Silica Reports 88% Year-Over-Year Net Income Increase
U.S. Silica Holdings Inc. announced its fourth quarter and full-year results for the period ended Dec. 31, 2023. The company is reporting full-year 2023 net income of $146.9 million, an 88% year-over-year increase. Full-year 2023 total company contribution margin of $549.7 million represented a 16% year-over-year increase. Net income for the fourth quarter ended Dec. 31, 2023, was $29.1 million, or $0.37…
Read MoreSummit Establishes Annual Records for Revenue, Profitability
Summit Materials Inc. announced results for the fourth quarter and full year ended Dec. 30, 2023. Net revenue increased $220.7 million, or 9.9%, in 2023 to $2.4 billion, as strong pricing across all lines of business and contributions from acquisitions more than offset lower volumes and the impact of divestitures. Operating income increased $41.6 million, or 15.5% in 2023 to…
Read MoreMartin Marietta Celebrates 30 Years of Providing Value
Martin Marietta – recognizing its 30th anniversary as a publicly traded company – has released a brief video, “Martin Marietta: A History in Stone.“ Martin Marietta teams across North America are expected to celebrate the company’s 30th Anniversary throughout the year, including during a companywide Town Hall in July. After splitting from its aerospace cousin, Lockheed Martin, Martin Marietta became…
Read MoreCemex U.S. Business Up 6% in 2023
Cemex reported 2023 results, with an 8% growth in sales to $17,416 million in 2023, and 5% to $4,243 million in the fourth quarter. This performance, coupled with the board’s confidence in the medium-term outlook and strong free cash flow generation over the last few years, allows Cemex to initiate a formal shareholder return program, subject to approval at the…
Read MoreHolcim to Spin Off North American Business by 2025
Holcim announced its intent to publicly list its North American business in the United States with a full capital market separation. This process “will create the leading pure-play building solutions company in the region,” the company stated. The newly-listed business will be committed to driving long-term growth in the rapidly expanding North American market and unlocking value for all its…
Read MoreSummit Materials Names Moore COO
Summit Materials appointed Marshall Moore as executive vice president, chief operations officer, effective Jan. 4. In the newly created role, Moore will enhance Summit’s operational excellence capabilities with responsibility for manufacturing and supply chain excellence, information technology and lean processes. Moore will also be responsible for the team integrating Summit’s acquisition of Argos USA, where he will provide battle-tested expertise…
Read MoreGranite Acquires Lehman-Roberts, Memphis Stone & Gravel
Granite Construction announced the acquisition of Lehman-Roberts Co, ( LRC) and Memphis Stone & Gravel Co. (MSG), longstanding asphalt paving and asphalt and aggregates producers and suppliers.
Read MoreHeidelberg Materials Reports Preliminary Financial Figures
Heidelberg Materials reported preliminary financial figures for the third quarter 2023, including revenue amounts to €5,611 million (previous year: €5,852) in the third quarter 2023. The capital market expects €5,694 million for this figure. The preliminary result from current operations before depreciation and amortisation (operating EBITDA) amounts to €1,393 million (previous year: €1,193) in the third quarter 2023. The capital…
Read MoreCemex U.S. Sales Up 5% in Third Quarter
Cemex reported another quarter of growth, with a 9% increase in sales and 32% increase in EBITDA in the third quarter of 2023. For the first time since the launch of Cemex’s pricing strategy in 2021, designed to regain profitability after a surge in input cost inflation, quarterly EBITDA margin exceeded its goal of recovering 2021 margins, the company stated.…
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