Martin Marietta Materials Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Martin Marietta Materials Inc. filed its Q1 2024 10-Q report on April 30, 2024.</b>

AI Summary

MARTIN MARIETTA MATERIALS INC (MLM) filed a Quarterly Report (10-Q) with the SEC on April 30, 2024. The filing is a 10-Q for Martin Marietta Materials Inc. for the period ending March 31, 2024. The company's Central Index Key is 0000916076. The Standard Industrial Classification is Mining, Quarrying of Nonmetallic Minerals (No Fuels) [1400]. The fiscal year ends on December 31. The filing was submitted on April 30, 2024.

Why It Matters

For investors and stakeholders tracking MARTIN MARIETTA MATERIALS INC, this filing contains several important signals. This 10-Q filing provides an update on the company's financial performance and operations for the first quarter of 2024. Investors and analysts can use this report to assess the company's financial health, profitability, and any significant changes since the last filing.

Risk Assessment

Risk Level: low — MARTIN MARIETTA MATERIALS INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial disclosures that would alter the risk profile.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to understand the drivers of revenue and profitability for Q1 2024.

Key Numbers

• 2024-03-31 — Report Period End Date (Conformed Period of Report)
• 2024-04-30 — Filing Date (Filed as of Date)
• 2024-01-01 — Quarter Start Date (Reporting period for Q1 2024)
• 2023-03-31 — Prior Year Quarter End Date (Comparison period)

Key Players & Entities

• MARTIN MARIETTA MATERIALS INC (company) — Filer
• 0000916076 (company) — Central Index Key
• 1400 (regulator) — Standard Industrial Classification
• NC (company) — State of Incorporation
• 001-12744 (regulator) — SEC File Number
• 24896792 (regulator) — Film Number
• RALEIGH (company) — Business Address City
• 919-781-4550 (company) — Business Phone

FAQ

Industry Context

Martin Marietta Materials operates in the mining and quarrying of nonmetallic minerals sector, primarily serving the construction industry.

Regulatory Implications

The company is subject to standard SEC reporting requirements for public companies, including the filing of quarterly reports (10-Q).

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow for Q1 2024.
2. Examine segment reporting to understand performance across different business units.
3. Review any disclosures regarding debt, equity, and other financial instruments.

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q filing.
• 2024-04-30: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the Q1 2024 10-Q filing, providing an update from the previous quarter's filings and the annual report.

Key Financial Figures

• $0.01 — ch registered Common Stock (Par Value $0.01) MLM The New York Stock Exchange

Filing Documents

• mlm-20240331.htm (10-Q) — 1809KB
• mlm-ex31_01.htm (EX-31.01) — 23KB
• mlm-ex31_02.htm (EX-31.02) — 23KB
• mlm-ex32_01.htm (EX-32.01) — 8KB
• mlm-ex32_02.htm (EX-32.02) — 8KB
• mlm-ex95.htm (EX-95) — 1252KB
• 0000950170-24-050478.txt (&nbsp;) — 9436KB
• mlm-20240331.xsd (EX-101.SCH) — 1085KB
• mlm-20240331_htm.xml (XML) — 1572KB

Financial Information

Part I. Financial Information:

Financial Statements

Item 1. Financial Statements Consolidated Balance Sheets – March 31, 2024 and December 31, 2023 3 Consolidated Statements of Earnings and Comprehensive Earnings – Three Months Ended March 31, 2024 and 2023 4 Consolidated Statements of Cash Flows – Three Months Ended March 31, 2024 and 2023 5 Consolidated Statements of Total Equity – Three Months Ended March 31, 2024 and 2023 6

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 22

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 32

Controls and Procedures

Item 4. Controls and Procedures 32

Other Information

Part II. Other Information:

Legal Proceedings

Item 1. Legal Proceedings 33

Risk Factors

Item 1A. Risk Factors 33

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 33

Other Information

Item 5. Other Information 33

Exhibits

Item 6. Exhibits 34

Signatures

Signatures 35 Page 2 of 35

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. MARTIN MARIETTA MATERIALS, INC. AND CONSOLIDATED SUBSIDIARIES (UNAUDITED) CONSOLIDATED BALANCE SHEETS March 31, December 31, 2024 2023 (In Millions, Except Share and Par Value Data) ASSETS Current Assets: Cash and cash equivalents $ 2,648 $ 1,272 Restricted cash 2 10 Accounts receivable, net 703 753 Inventories, net 1,077 989 Current assets held for sale 18 807 Other current assets 70 88 Total Current Assets 4,518 3,919 Property, plant and equipment 11,257 10,708 Allowances for depreciation, depletion and amortization ( 4,657 ) ( 4,522 ) Net property, plant and equipment 6,600 6,186 Goodwill 3,479 3,389 Other intangibles, net 702 698 Operating lease right-of-use assets, net 382 372 Other noncurrent assets 559 561 Total Assets $ 16,240 $ 15,125 LIABILITIES AND EQUITY Current Liabilities: Accounts payable $ 266 $ 343 Accrued salaries, benefits and payroll taxes 37 102 Accrued income taxes 457 6 Accrued other taxes 37 47 Accrued interest 40 41 Current maturities of long-term debt 400 400 Current operating lease liabilities 52 53 Current liabilities held for sale — 18 Other current liabilities 140 160 Total Current Liabilities 1,429 1,170 Long-term debt 3,947 3,946 Deferred income taxes, net 865 874 Noncurrent operating lease liabilities 344 327 Noncurrent asset retirement obligations 388 383 Other noncurrent liabilities 390 389 Total Liabilities 7,363 7,089 Equity: Common stock, par value $ 0.01 per share ( 61,639,965 shares and 61,821,421 shares outstanding at March 31, 2024 and December 31, 2023, respectively) 1 1 Preferred stock, par value $ 0.01 per share — — Additional paid-in capital 3,512 3,519 Accumulated other comprehensive loss ( 49 ) ( 49 ) Retained earnings 5,411 4,563

View Full Filing

View this 10-Q filing on SEC EDGAR