NYSE: MLM
MARTIN MARIETTA MATERIALS INCCIK 0000916076 · SIC 1400 · Mining & Quarrying
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Martin Marietta issues $5.5B in senior notes to finance Lhoist North America acquisition
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Martin Marietta prices senior notes offering to fund up to $7B cash portion of $13.5B Lhoist acquisition
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Martin Marietta clears regulatory hurdles for $13.5B Lhoist North America acquisition
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Martin Marietta promotes Michael J. Petro to CFO with $750K base, $5M retention grant
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MLM revenue +21% to $1.95B in Q2 2026; operating income -10% to on acquisition charges
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Martin Marietta secures $1.5B term loan, amends revolver to finance Lhoist acquisition
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Martin Marietta to acquire Lhoist North America for $13.5B in cash and stock
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Martin Marietta to acquire Lhoist North America for $13.5B in cash and stock
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Latest financial statements
From 10-Q filed Jul 30, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Earnings and Comprehensive Earnings (Unaudited)
(in millions, except per share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenues | 1,947 | 1,609 | 3,309 | 2,771 |
| Cost of revenues | 1,452 | 1,113 | 2,504 | 1,960 |
| Gross Profit | 495 | 496 | 805 | 811 |
| Selling, general and administrative expenses | 116 | 104 | 249 | 230 |
| Acquisition, divestiture and integration expenses | 18 | 2 | 24 | 4 |
| Other operating income, net | (11) | (23) | (1) | (14) |
| Earnings from Operations | 372 | 413 | 533 | 591 |
| Interest expense | 59 | 57 | 115 | 113 |
| Other nonoperating income, net | (7) | (9) | (19) | (19) |
| Earnings from continuing operations before income tax expense | 320 | 365 | 437 | 497 |
| Income tax expense | 64 | 73 | 101 | 101 |
| Earnings from continuing operations | 256 | 292 | 336 | 396 |
| (Loss) Earnings from discontinued operations, net of income tax (benefit) expense | (5) | 36 | 1,428 | 48 |
| Consolidated net earnings | 251 | 328 | 1,764 | 444 |
| Less: Net earnings attributable to noncontrolling interests | — | — | — | — |
| Net Earnings Attributable to Martin Marietta | 251 | 328 | 1,764 | 444 |
| Consolidated Comprehensive Earnings (See Note A) | ||||
| Comprehensive earnings attributable to Martin Marietta | 292 | 331 | 1,798 | 448 |
| Comprehensive earnings attributable to noncontrolling interests | — | — | — | — |
| 292 | 331 | 1,798 | 448 | |
| Net Earnings (Loss) Attributable to Martin Marietta | ||||
| Basic earnings per share from continuing operations | 4.27 | 4.85 | 5.57 | 6.54 |
| Basic (loss) earnings per share from discontinued operations | (0.09) | 0.59 | 23.75 | 0.79 |
| Total basic earnings per share attributable to common shareholders | 4.18 | 5.44 | 29.32 | 7.33 |
| Diluted earnings per share from continuing operations | 4.26 | 4.84 | 5.56 | 6.52 |
| Diluted (loss) earnings per share from discontinued operations | (0.09) | 0.59 | 23.71 | 0.79 |
| Total diluted earnings per share attributable to common shareholders | 4.17 | 5.43 | 29.27 | 7.31 |
| Weighted-Average Common Shares Outstanding | ||||
| Basic | 60.1 | 60.3 | 60.2 | 60.6 |
| Diluted | 60.2 | 60.4 | 60.3 | 60.7 |
Consolidated Balance Sheets (Unaudited)
(in millions, except share and par value data)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current Assets: | ||
| Cash and cash equivalents | 112 | 67 |
| Restricted cash | 8 | — |
| Accounts receivable, net | 1,020 | 723 |
| Inventories, net | 1,169 | 1,078 |
| Other current assets | 131 | 95 |
| Current assets held for sale | 6 | 1,230 |
| Total Current Assets | 2,446 | 3,193 |
| Property, plant and equipment | 18,429 | 15,330 |
| Allowances for depreciation, depletion and amortization | (5,328) | (5,040) |
| Property, plant and equipment, net | 13,101 | 10,290 |
| Goodwill | 3,959 | 3,614 |
| Other intangibles, net | 565 | 459 |
| Operating lease right-of-use assets, net | 381 | 367 |
| Other noncurrent assets | 853 | 788 |
| Total Assets | 21,305 | 18,711 |
| LIABILITIES AND EQUITY | ||
| Current Liabilities: | ||
| Accounts payable | 349 | 389 |
| Accrued salaries, benefits and payroll taxes | 71 | 100 |
| Accrued other taxes | 50 | 46 |
| Current maturities of long-term debt | 860 | 30 |
| Current operating lease liabilities | 70 | 62 |
| Unpaid commitments to limited liability companies | 51 | 51 |
| Other current liabilities | 288 | 217 |
| Total Current Liabilities | 1,739 | 895 |
| Long-term debt | 5,091 | 5,293 |
| Deferred income taxes, net | 1,641 | 1,266 |
| Noncurrent operating lease liabilities | 324 | 320 |
| Other noncurrent liabilities | 962 | 903 |
| Total Liabilities | 9,757 | 8,677 |
| Commitments and Contingencies Note I | — | — |
| Equity: | ||
| Common stock, par value $0.01 per share (60,050,859 shares and 60,309,739 shares outstanding at June 30, 2026 and December 31, 2025, respectively) | 1 | 1 |
| Preferred stock, $0.01 par value per share (10,000,000 shares authorized; no shares outstanding) | — | — |
| Additional paid-in capital | 3,587 | 3,569 |
| Accumulated other comprehensive earnings | 94 | 60 |
| Retained earnings | 7,864 | 6,402 |
| Total Shareholders' Equity | 11,546 | 10,032 |
| Noncontrolling interests | 2 | 2 |
| Total Equity | 11,548 | 10,034 |
| Total Liabilities and Equity | 21,305 | 18,711 |
Consolidated Statements of Cash Flows (Unaudited)
(in millions)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash Flows from Operating Activities | ||
| Consolidated net earnings | 1,764 | 444 |
| Adjustments to reconcile consolidated net earnings to net cash provided by operating activities: | ||
| Depreciation, depletion and amortization | 371 | 321 |
| Stock-based compensation expense | 41 | 37 |
| Gain on divestitures and sales of assets | (1,977) | (15) |
| Deferred income taxes, net | 278 | 9 |
| Changes in operating assets and liabilities, net of effects of acquisitions and divestitures: | ||
| Accounts receivable, net | (269) | (226) |
| Inventories, net | 61 | (42) |
| Accounts payable | 55 | 48 |
| Other assets and liabilities, net | 25 | 35 |
| Other items, net | (10) | (6) |
| Net Cash Provided by Operating Activities | 339 | 605 |
| Cash Flows from Investing Activities | ||
| Additions to property, plant and equipment | (314) | (412) |
| Acquisitions, net of cash acquired | (733) | — |
| Proceeds from divestitures and sales of assets | 469 | 18 |
| Investments in life insurance contracts, net | 10 | 1 |
| Investments in limited liability company | — | (44) |
| Other investing activities, net | — | (15) |
| Net Cash Used for Investing Activities | (568) | (452) |
| Cash Flows from Financing Activities | ||
| Proceeds from borrowings | 1,085 | — |
| Repayments of debt | (460) | — |
| Payments on finance lease obligations | (10) | (12) |
| Dividends paid | (102) | (97) |
| Repurchases of common stock | (200) | (450) |
| Shares withheld for employees’ income tax obligations | (27) | (29) |
| Other financing activities, net | (4) | 1 |
| Net Cash Provided by (Used for) Financing Activities | 282 | (587) |
| Net Increase (Decrease) in Cash and Cash Equivalents | 53 | (434) |
| Cash and Cash Equivalents, beginning of period | 67 | 670 |
| Cash and Cash Equivalents, end of period | 120 | 236 |
Amounts as printed on the EDGAR/iXBRL face — (in millions, except per share data); (in millions, except share and par value data); (in millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗