Martin Marietta Materials Q3 2024 Update
Ticker: MLM · Form: 10-Q · Filed: Oct 30, 2024 · CIK: 916076
| Field | Detail |
|---|---|
| Company | Martin Marietta Materials INC (MLM) |
| Form Type | 10-Q |
| Filed Date | Oct 30, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, materials, construction
Related Tickers: MLM
TL;DR
**MLM Q3 2024:** Financials for building materials and paving services released. Check for segment performance.
AI Summary
Martin Marietta Materials Inc. reported its third-quarter results for the period ending September 30, 2024. The company's filing includes financial data for various segments, such as Asphalt and Paving Services and Building Materials Business. Key financial figures and segment information are presented for comparative periods, including June 30, 2024, and September 30, 2023.
Why It Matters
This filing provides investors with the latest financial performance data for Martin Marietta Materials, crucial for understanding the company's operational health and market position in the building materials sector.
Risk Assessment
Risk Level: low — This is a routine quarterly filing (10-Q) providing standard financial disclosures.
Key Players & Entities
- MARTIN MARIETTA MATERIALS INC (company) — Filer
- 20240930 (date) — Period of Report
- 20241030 (date) — Filing Date
- 4123 PARKLAKE AVE (address) — Business Address
- RALEIGH (city) — Business Address City
- NC (state) — Business Address State
- 27612 (zip_code) — Business Address Zip
- 919-781-4550 (phone_number) — Business Phone
- mlm-20240930.htm (document_name) — Filed Document
- 0000916076 (cik) — Central Index Key
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240930, indicating the third quarter of 2024.
What are the main business segments of Martin Marietta Materials mentioned in the filing?
The filing mentions 'Asphalt and Paving Services' and 'Building Materials Business' as operating segments.
What is the company's business address?
The business address is 4123 PARKLAKE AVE, RALEIGH, NC 27612.
What is the Central Index Key (CIK) for Martin Marietta Materials?
The CIK for Martin Marietta Materials is 0000916076.
What specific senior notes are mentioned in the filing?
The filing mentions 'Three Point Two Zero Zero Percent Senior Notes Due Twenty Fifty One' and 'Three Point Four Five Zero Percent Senior Notes Due Twenty Twenty Seven'.
Filing Stats: 4,498 words · 18 min read · ~15 pages · Grade level 16.7 · Accepted 2024-10-30 14:23:20
Key Financial Figures
- $0.01 — ch registered Common Stock (Par Value $0.01) MLM The New York Stock Exchange
Filing Documents
- mlm-20240930.htm (10-Q) — 2679KB
- 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) — 1371KB
- 0000950170-24-118821.txt ( ) — 12351KB
- mlm-20240930.xsd (EX-101.SCH) — 1126KB
- mlm-20240930_htm.xml (XML) — 2462KB
Financial Information
Part I. Financial Information:
Financial Statements
Item 1. Financial Statements Consolidated Balance Sheets – September 30, 2024 and December 31, 2023 3 Consolidated Statements of Earnings and Comprehensive Earnings – Three and Nine Months Ended September 30, 2024 and 2023 4 Consolidated Statements of Cash Flows – Nine Months Ended September 30, 2024 and 2023 5 Consolidated Statements of Total Equity – Three and Nine Months Ended September 30, 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 25
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 37
Controls and Procedures
Item 4. Controls and Procedures 37
Other Information
Part II. Other Information:
Legal Proceedings
Item 1. Legal Proceedings 38
Risk Factors
Item 1A. Risk Factors 38
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 38
Other Information
Item 5. Other Information 38
Exhibits
Item 6. Exhibits 39
Signatures
Signatures 40 Page 2 of 40
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements. MARTIN MARIETTA MATERIALS, INC. AND CONSOLIDATED SUBSIDIARIES (UNAUDITED) CONSOLIDATED BALANCE SHEETS September 30, December 31, 2024 2023 (In Millions, Except Share and Par Value Data) ASSETS Current Assets: Cash and cash equivalents $ 52 $ 1,272 Restricted cash — 10 Accounts receivable, net 916 753 Inventories, net 1,089 989 Current assets held for sale 10 807 Deposits 132 — Other current assets 120 88 Total Current Assets 2,319 3,919 Property, plant and equipment 13,588 10,708 Allowances for depreciation, depletion and amortization ( 4,874 ) ( 4,522 ) Net property, plant and equipment 8,714 6,186 Goodwill 3,768 3,389 Other intangibles, net 705 698 Operating lease right-of-use assets, net 376 372 Other noncurrent assets 587 561 Total Assets $ 16,469 $ 15,125 LIABILITIES AND EQUITY Current Liabilities: Accounts payable $ 315 $ 343 Accrued salaries, benefits and payroll taxes 67 102 Accrued income taxes 231 6 Accrued other taxes 61 47 Accrued interest 36 41 Current maturities of long-term debt 95 400 Current operating lease liabilities 54 53 Other current liabilities 134 178 Total Current Liabilities 993 1,170 Long-term debt 3,948 3,946 Deferred income taxes, net 1,127 874 Noncurrent operating lease liabilities 337 327 Noncurrent asset retirement obligations 409 383 Other noncurrent liabilities 484 389 Total Liabilities 7,298 7,089 Commitments and contingent liabilities - Note 9 — — Equity: Common stock, par value $ 0.01 per share ( 61,118,057 shares and 61,821,421 shares outstanding at September 30, 2024 and December 31, 2023, respectively) 1 1 Preferred stock, par value $ 0.01 per share — — Additional paid-in capital 3,544 3,519 Accumulated other comprehensive loss ( 46 ) ( 49 )