Martin Marietta Materials

Martin Marietta Materials, Inc. stands as one of North America's premier suppliers of aggregates and heavy building materials, with a heritage dating back to 1939 and a commanding presence across the construction materials industry as a member of the S&P 500 Index. Operating through an extensive network spanning 28 states, Canada, and the Bahamas, the company serves as a critical infrastructure partner providing the essential materials that literally build America's roads, buildings, and infrastructure systems. In 2024, Martin Marietta sold 191 million tons of aggregates and generated substantial revenue positioning it among the industry's largest and most influential players, with operations concentrated in strategically important markets including Texas, North Carolina, Colorado, California, and Georgia.

The company's business portfolio encompasses two distinct but complementary segments that leverage natural resources and manufacturing expertise. The Building Materials segment represents the core of Martin Marietta's operations, producing and distributing aggregates (crushed stone, sand, and gravel), cement, ready mixed concrete, and asphalt products that serve as fundamental building blocks for infrastructure projects, commercial construction, residential development, and various industrial applications. This segment benefits from the company's strategically located quarries, production facilities, and distribution networks that enable efficient service delivery to customers throughout its operating territories. The Magnesia Specialties segment adds higher-margin diversification through the production of high-purity magnesia and dolomitic lime products used worldwide in environmental applications (pollution control systems), industrial processes (refractory materials), agricultural inputs, and specialty chemical applications, demonstrating Martin Marietta's ability to extract maximum value from its mineral resources.

Martin Marietta's strategic evolution reflects disciplined capital allocation and portfolio optimization focused on strengthening its position in the aggregates-led building materials business. In 2024, the company accomplished approximately $6 billion in transformative transactions that fundamentally reshaped its portfolio: divesting its South Texas cement and related concrete operations to CRH Americas Materials for $2.1 billion in February 2024, while simultaneously acquiring 20 active aggregates operations from Blue Water Industries (BWI Southeast) for $2.05 billion, with the BWI transaction closing in November 2024. These strategic moves demonstrate management's commitment to concentrating capital in higher-return aggregates assets while exiting non-core positions. Additionally, on July 25, 2025, the company completed the acquisition of Premier Magnesia, LLC, further strengthening its Magnesia Specialties segment. The company also entered into a definitive agreement with Quikrete Holdings to exchange certain aggregates operations for its Midlothian cement plant, related cement terminals, and North Texas ready-mixed concrete assets, continuing the portfolio transformation toward aggregates leadership.

Under the leadership of Chairman and CEO C. Howard (Ward) Nye, who has guided the company since 2010, Martin Marietta has navigated challenging market conditions while maintaining operational discipline and strategic focus. Despite headwinds including inclement weather, softening construction demand in nonresidential and residential sectors, and tighter monetary policy that impacted 2024 performance, the company concluded the year with a return to earnings growth and margin expansion, delivering record fourth quarter profits. Looking toward 2025, management expresses confidence in achieving the midpoint of full-year Adjusted EBITDA guidance of $2.25 billion (representing a 9% improvement compared to 2024), supported by strategic actions completed in 2024, strong infrastructure demand driven by federal and state investments, accelerating data center construction activity, and recovering warehouse and manufacturing sectors that should more than offset ongoing residential construction softness. With approximately 9,000 employees, operations across nearly three dozen states and international locations, and a culture emphasizing safety, respect, inclusion, and continuous improvement, Martin Marietta Materials positions itself as an essential partner in building the infrastructure and communities that support economic growth and quality of life throughout North America.