Martin Marietta Materials updated pro forma financials for its Lhoist North America (LNA) acquisition, reflecting $7,028 million of new long-term debt used to finance the cash portion of $12,887 million total consideration.
MLM · Martin Marietta Materials Inc
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Martin Marietta completed its $12.9 billion LNA acquisition on August 21, 2026. Third-quarter interest expense rose to $138 million from $59 million, while net earnings from continuing operations fell to $256 million from $361 million.
Martin Marietta delivered record third-quarter performance, updating 2026 revenue guidance midpoint to $7.8 billion and adjusted EBITDA midpoint to $2.48 billion, while preliminary 2027 outlook anticipates mid- to high-single-digit mix-adjusted aggregates pricing growth.
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AI Brief
Q2 FY26 earnings call · Jul 30, 2026TL;DR. Martin Marietta reported record Q2 2026 revenue of $1,947M (up 21%) and record adjusted EBITDA from continuing operations of $638M (up 13%), completed the NFM acquisition and announced a $13.5B combination with LNA, and raised full-year 2026 revenue guidance to $7.2B–$7.4B while reaffirming adjusted EBITDA guidance of $2.36B–$2.5B (which excludes any LNA contribution).
- + Raised full-year 2026 revenue guidance to $7.2 billion to $7.4 billion
- + Record Q2 revenues of $1,947M and record adjusted EBITDA from continuing operations of $638M, up 13%
- + Adjusted EBITDA from continuing operations tracking to ~10% CAGR through 2026 despite divesting more than $525M of EBITDA
- + Identified ~$350M of annualized cash flow improvements, with over $200M already unlocked year-to-date
- + Specialties business delivered record quarterly revenues of $152M and gross profit of $50M
- − Reported aggregates gross profit fell 3% to $418M and gross profit per ton fell 17%, weighed down by a $52M non-cash inventory step-up charge
- − Headline aggregates ASP declined 2% to $22.74 per ton due to acquisition-related mix headwinds
- − Other Building Materials gross profit declined 14% to $34M on higher ready mix raw material costs and lower paving margins
- − Operating cash flow for the first half fell to $339M from $605M on higher tax payments tied to divestiture gains
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
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Guidance & track record
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders NeutralIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted EBITDA from continuing operations non-GAAP | $638M | Q2 2026 | — |
GAAP → non-GAAP reconciliationGAAP Net earnings from continuing operations attributable to Martin Marietta 256M
+58M Interest expense, net of interest income
+64M Income tax expense for controlling interests
+202M Depreciation, depletion and amortization expense and earnings/loss from nonconsolidated equity affiliates
+11M Acquisition, divestiture and integration expenses
+45M Impact of selling acquired inventory after markup to fair value as part of acquisition accounting
+2M Asset and portfolio rationalization charge
= Adjusted EBITDA from continuing operations 638M
|
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| Aggregates product line Average selling price per ton (ASP) | $22.74 | Q2 2026 | — |
| Aggregates product line Gross profit per ton | $6.78 | Q2 2026 | — |
| Aggregates product line Organic average selling price per ton non-GAAP | $23.7 | Three Months Ended June 30, 2026 filing | — |
| Aggregates product line Organic shipments (tons) non-GAAP | 53.8M | Three Months Ended June 30, 2026 filing | — |
| Aggregates product line Shipments (tons) | 61.6M | Q2 2026 | — |
| Consolidated SG&A as a percentage of revenues | 5.9% | Three Months Ended June 30, 2026 filing | — |
| Service revenues | $107M | Three Months Ended June 30, 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Building Materials — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
MLM
this stock
Martin Marietta Materials Inc
|
$36.53B | -17.5% | +8.6% | 13.6 | 4.7% |
|
CRH
Crh Public Ltd Co
|
$61.97B | -25.4% | +5.3% | 17.5 | 2.1% |
|
VMC
Vulcan Materials CO
|
$35.76B | -2.3% | +6.4% | 33.0 | 2.9% |
|
AMRZ
Amrize Ltd
|
$21.77B | -24.4% | +0.9% | 18.0 | 2.8% |
|
JHX
James Hardie Industries plc
|
$16.17B | +34.0% | +24.7% | — | 3.9% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Amount
- $250.0K–$500.0K
- Traded
- Aug 25, 2026
- Filed
- Nov 4, 2026
- This year
- 29
Martin Marietta Materials updated pro forma financials for its Lhoist North America (LNA) acquisition, reflecting $7,028 million of new long-term debt used to finance the cash portion of $12,887 million total consideration.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| MLM | -0.9% | +2.6% | -8.4% | -5.0% | -17.5% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | -3.5% | +3.7% | -8.9% | -4.8% | -28.1% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.