July 28, 2020 – Martin Marietta reported a decrease in aggregates shipments in the second quarter, although company gross profit hit record amounts. But what about the company’s other segments? Second-quarter cement shipments decreased 2.7%, driven by reduced demand for West Texas oil-well specialty cement products caused by historically low oil prices. While cement pricing increased attractively in North Texas, Houston, and portions of…
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Martin Marietta Aggregates Shipments Down; Gross Profit Up
Martin Marietta Materials Inc. reported results for the second quarter ended June 30. Revenues were $1.271 billion for the quarter, down from $1.279 billion in the second quarter of 2019; however, gross profit was a record $380 million versus $357 in the second quarter of 2019.
Read MoreFIRST LOOK – JUNE 2020
TOP NEWS Summit Materials’ Aggregates Volumes Increase Summit Materials Inc. reported that net revenue increased by 11.9% to $342.4 million in the first quarter 2020, versus $306.0 million in the prior-year period. The improvement in net revenue was primarily attributable to organic volume and price growth in ready-mix concrete and aggregates. Martin Marietta Reports Strong First Quarter Martin Marietta Materials…
Read MoreMichael Quillen
Michael Quillen was awarded the Virginia Tech William H. Ruffner Medal for 2020. The Ruffner Medal is the university’s highest honor. Quillen, a resident of Bristol, Va., was recognized for his achievements during the spring 2020 University Commencement Ceremony. “Being named a Ruffner Medal recipient by Virginia Tech is one of the most significant recognitions I have ever received,” said…
Read MoreWajsgras Joins Martin Marietta Board
Martin Marietta Materials Inc. announced that a new independent director was elected to its board of directors at its Annual Meeting of Shareholders. David C. Wajsgras served as president of the Intelligence, Information and Services business of the former Raytheon Co., now part of Raytheon Technologies Corp. Previously, he served as Raytheon’s senior vice president and chief financial officer. Wajsgras…
Read MoreMartin Marietta Looks Ahead
May 5, 2020 – Martin Marietta Materials, in its first-quarter report, said that of the company’s three primary end uses, the outlook for infrastructure construction, particularly for aggregates-intensive highways and streets, is expected to be the most near-term resilient. While the majority of the United States has currently been ordered to shelter in place, most state Departments of Transportation (DOTs) are currently…
Read MoreMartin Marietta Reports Strong First Quarter
Martin Marietta Materials Inc. reported results for the first quarter ended March 31, 2020. Total revenues were $958.2 million, versus $939 million in the first quarter of 2019.
Read MoreMartin Marietta Reinforces Health, Safety Amidst COVID-19 Pandemic
Martin Marietta Materials released the following statement in light of the current COVID-19/coronavirus pandemic:
Read MoreFIRST LOOK – MARCH 2020
TOP NEWS Martin Marietta Reports Most Profitable Year in Its History Martin Marietta Materials Inc. reported fourth quarter 2019 revenues of $1,100,430, up from $1,020,218 in the fourth quarter of 2018. Full-year 2019 revenues were $4,739,098, up from $4,244,265 in 2018. Sandbrook to Retire U.S. Concrete Inc. announced that William J. Sandbrook has notified the company’s board of directors of…
Read MoreMartin Marietta to Move into New Corporate Headquarters
In 2021, Martin Marietta will move its corporate headquarters from 2710 Wycliff Road in Raleigh, N.C., into a new office building, according to a Triangle Business Journal report. The company leased the new five-story, 125,000-sq.-ft. GlenLake Seven office building and will be its sole tenant.
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