Martin Marietta Looks Ahead

Nov. 1, 2023 – In its just released quarterly report, Martin Marietta Materials provided a preliminary look at what it expects in 2024. The company stated, “Aggregates shipments are expected to be relatively flat, as strong demand from public infrastructure and heavy nonresidential projects of scale will partially offset an anticipated softening in the interest-rate sensitive, private light nonresidential and residential sectors. The Company anticipates low double-digit aggregates pricing growth as carryover effects from 2023 together with January 1, 2024 price increases will offset continued inflationary pressure from the recent acceleration in energy-related costs. Notably, the incremental benefits of any 2024 mid-year pricing actions are not included in this preliminary view.”

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