Unfavorable Weather Continues but Can’t Stop Pricing Increases in Martin Marietta’s 3Q; Raising FVE
Bad weather weighed on volumes during the third quarter for Martin Marietta. In particular, management highlighted disruptions in eastern North Carolina from Hurricane Matthew. Year over year, heritage aggregates operations saw volumes decline nearly 6% to roughly 45 million tons during the third quarter. Yet while Martin Marietta saw some volume headwinds, pricing and margins still improved dramatically. Despite the volume decline, heritage aggregates operations pricing improved by nearly 9% ov...Martin Marietta Materials is a natural resource-based building materials company. The company supplies aggregates (crushed stone, sand and gravel) through its network of quarries, mines and distribution yards. The company also provides cement and downstream products, namely, ready mixed concrete, asphalt and paving services. The company conducts its Building Materials business through three segments: Mid-America Group, Southeast Group and West Group. The Mid-America and Southeast Groups provide aggregates products only. The West Group provides aggregates, cement and downstream products. The company also has the Magnesia Specialties segment, which includes its magnesia-based chemicals and dolomitic lime businesses.
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