Martin Marietta Materials, Inc. (NYSE:MLM) today reported results for the third quarter ended September 30, 2016. Ward Nye, Chairman, President and CEO of Martin Marietta, stated: "Our ability to take advantage of a slow and steady economic expansion and improvement across our markets helped us achieve exceptional performance in each of our business units. For the third quarter of 2016, we delivered significant margin expansion and achieved record gross profit, net earnings and earnings per diluted share from our record net sales for the period. Aggregate product line pricing increased approximately 9 percent which, coupled with our focus on diligent cost control, allowed us to leverage the increased net sales into a 210-basis-point improvement in consolidated gross margin (excluding freight and delivery revenues), generating a 91 percent incremental gross margin (excluding freight and delivery revenues). Overall, our record performance across our business underscores our ability to deliver top- and bottom-line growth. "The businesses' underlying quarterly performance was outstanding. Every business across the broad spectrum of our enterprise made meaningful contributions, reflecting the soundness of our strategic planning together with market-specific execution. For example, positive underlying market conditions contributed to the Southeast Group and the Mid-America Group expanding their gross margin (excluding freight and delivery revenues) 530 basis points and 90 basis points, respectively. In addition, aggregate product line volume increased 8 percent in the Carolinas, with some markets increasing 15 percent or more. This growth was driven by early and small advances in both non-residential and residential demand. Importantly, these results were achieved despite some market challenges we faced during the quarter. Indeed, volume headwinds were more prevalent than tailwinds during the quarter and constrained construction activity in our markets. Specifically, we continue to see delays in Texas Department of Transportation projects, declines in railroad ballast shipments, abnormally wet weather and a slower energy-related marketplace. Our record financial results demonstrate our ability to overcome these and other macro headwinds as our employees focus on executing our business plan and meeting our objectives.