This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Martin Marietta Materials, Inc. Announces Third-Quarter Results

Risks to the outlook include shipment declines as a result of economic events beyond the Corporation’s control. In addition to the impact on nonresidential and residential construction, the Corporation is exposed to risk in its estimated outlook from credit markets and the availability of and interest cost related to its debt.

CONSOLIDATED FINANCIAL HIGHLIGHTS

Net sales for the third quarter were $539.1 million, a 21.2% increase versus the $445.0 million recorded in 2011. Earnings from operations for the third quarter of 2012 were $91.1 million compared with $80.0 million in 2011. Net earnings attributable to Martin Marietta Materials were $62.9 million, or $1.36 per diluted share, versus 2011 third-quarter net earnings attributable to Martin Marietta Materials of $49.2 million, or $1.07 per diluted share.

Net sales for the first nine months of 2012 were $1.381 billion compared with $1.145 billion for the year-earlier period. Year-to-date earnings from operations were $115.0 million versus $140.3 million in 2011. For the nine-month period ended September 30, 2012, net earnings attributable to Martin Marietta Materials were $62.9 million, or $1.36 per diluted share, compared with $67.5 million, or $1.46 per diluted share, in the first nine months of 2011.

BUSINESS FINANCIAL HIGHLIGHTS

Net sales for the Aggregates business during the third quarter of 2012 were $489.7 million compared with 2011 third-quarter sales of $394.7 million. Aggregates volume at heritage locations was down 3.8%, while pricing increased 4.1%. Earnings from operations for the quarter were $76.1 million in 2012 versus $70.4 million in the year-earlier period. Year-to-date net sales for the Aggregates business were $1.229 billion versus $996.1 million in 2011. Earnings from operations on a year-to-date basis were $108.3 million in 2012 compared with $104.4 million in 2011. For the nine-month period ended September 30, 2012, heritage aggregates volume increased 2.2%, while pricing increased 3.0%.

Specialty Products third-quarter net sales of $49.4 million decreased 1.8% from prior-year net sales of $50.3 million. Earnings from operations for the third quarter were $17.0 million compared with $15.6 million in the year-earlier period. For the first nine months of 2012, net sales were $151.6 million and earnings from operations were $52.7 million compared with net sales of $149.1 million and earnings from operations of $50.0 million for the first nine months of 2011.

8 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
SYM TRADE IT LAST %CHG

Markets

DOW 17,841.98 -86.22 -0.48%
S&P 500 2,080.15 -9.31 -0.45%
NASDAQ 4,919.6440 -19.6830 -0.40%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs