Martin Marietta Materials Q2 2024 Update

TL;DR

MLM Q2 results are in, check the 10-Q for building materials and aggregates performance.

AI Summary

Martin Marietta Materials Inc. reported its second quarter 2024 results, ending June 30, 2024. The company's filing details its financial performance across various segments, including Building Materials, Aggregates, and Magnesia Specialties. Specific financial data and operational details for the periods ending June 30, 2024, and December 31, 2023, are provided.

Why It Matters

This filing provides investors with crucial financial and operational insights into Martin Marietta Materials' performance, impacting investment decisions and market perception.

Risk Assessment

Risk Level: medium — The filing contains standard financial disclosures for a public company, but the nature of the materials industry can be subject to economic cycles and regulatory changes.

Key Numbers

• 2024-06-30 — Reporting Date (End of the second quarter reporting period.)
• 2023-12-31 — Prior Year End Date (Reference point for comparative financial data.)
• 2024-04-01 — Quarter Start Date (Beginning of the current reporting quarter.)

Key Players & Entities

• MARTIN MARIETTA MATERIALS INC (company) — Filer
• 20240630 (date) — Reporting Period End Date
• 20240808 (date) — Filing Date
• mlm:MagnesiaSpecialtiesMember (company) — Operating Segment
• mlm:BuildingMaterialsBusinessMember (company) — Operating Segment
• mlm:AggregatesMember (company) — Operating Segment

FAQ

Key Financial Figures

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

Filing Documents

• mlm-20240630.htm (10-Q) — 2677KB
• 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) — 1357KB
• 0000950170-24-093580.txt ( ) — 12224KB
• mlm-20240630.xsd (EX-101.SCH) — 1170KB
• mlm-20240630_htm.xml (XML) — 2381KB

Financial Information

Part I. Financial Information:

Financial Statements

Item 1. Financial Statements Consolidated Balance Sheets – June 30, 2024 and December 31, 2023 3 Consolidated Statements of Earnings and Comprehensive Earnings – Three and Six Months Ended June 30, 2024 and 2023 4 Consolidated Statements of Cash Flows – Six Months Ended June 30, 2024 and 2023 5 Consolidated Statements of Total Equity – Three and Six Months Ended June 30, 2024 and 2023 6

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 8

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 26

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 38

Controls and Procedures

Item 4. Controls and Procedures 38

Other Information

Part II. Other Information:

Legal Proceedings

Item 1. Legal Proceedings 39

Risk Factors

Item 1A. Risk Factors 39

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 39

Other Information

Item 5. Other Information 39

Exhibits

Item 6. Exhibits 40

Signatures

Signatures 41 Page 2 of 41

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. MARTIN MARIETTA MATERIALS, INC. AND CONSOLIDATED SUBSIDIARIES (UNAUDITED) CONSOLIDATED BALANCE SHEETS June 30, December 31, 2024 2023 (In Millions, Except Share and Par Value Data) ASSETS Current Assets: Cash and cash equivalents $ 109 $ 1,272 Restricted cash — 10 Accounts receivable, net 909 753 Inventories, net 1,105 989 Current assets held for sale 10 807 Other current assets 96 88 Total Current Assets 2,229 3,919 Property, plant and equipment 13,383 10,708 Allowances for depreciation, depletion and amortization ( 4,773 ) ( 4,522 ) Net property, plant and equipment 8,610 6,186 Goodwill 3,842 3,389 Other intangibles, net 713 698 Operating lease right-of-use assets, net 378 372 Other noncurrent assets 561 561 Total Assets $ 16,333 $ 15,125 LIABILITIES AND EQUITY Current Liabilities: Accounts payable $ 304 $ 343 Accrued salaries, benefits and payroll taxes 58 102 Accrued income taxes 158 6 Accrued other taxes 50 47 Accrued interest 41 41 Current maturities of long-term debt 400 400 Current operating lease liabilities 53 53 Current liabilities held for sale — 18 Other current liabilities 132 160 Total Current Liabilities 1,196 1,170 Long-term debt 3,947 3,946 Deferred income taxes, net 1,110 874 Noncurrent operating lease liabilities 341 327 Noncurrent asset retirement obligations 397 383 Other noncurrent liabilities 502 389 Total Liabilities 7,493 7,089 Commitments and contingent liabilities - Note 9 — — Equity: Common stock, par value $ 0.01 per share ( 61,117,053 shares and 61,821,421 shares outstanding at June 30, 2024 and December 31, 2023, respectively) 1 1 Preferred stock, par value $ 0.01 per share — — Additional paid-in capital 3,529 3,519 Accumulated other comprehensive loss (

View Full Filing

View this 10-Q filing on SEC EDGAR