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Martin Marietta Completes Asset Exchange with Quikrete Holdings, Inc.
RALEIGH, N.C., Feb. 23, 2026 (GLOBE NEWSWIRE) -- Martin Marietta Materials, Inc. (NYSE: MLM) (Mar...
About this update from Mcfarlane Lake Mining Limited
[{"type":"text","content":"Martin Marietta Completes Asset Exchange with Quikrete Holdings, Inc.\nRALEIGH, N.C., Feb. 23, 2026 (GLOBE NEWSWIRE) -- Martin Marietta Materials, Inc. (NYSE: MLM) (Martin Marietta or the Company) today announced the completion of its previously announced asset exchange with Quikrete Holdings, Inc. (QUIKRETE) on February 23, 2026. Under the terms of the transaction, Martin Marietta acquired aggregates operations producing approximately 20 million tons annually in Virginia, Missouri, Kansas and Vancouver, British Columbia, along with $450 million in cash. In exchange, QUIKRETE acquired the Company’s Midlothian cement plant, related cement terminals and Texas ready-mixed concrete assets and certain nonoperating land. Ward Nye, Chair, President and CEO of Martin Marietta stated, “This portfolio-enhancing transaction establishes new growth platforms in key SOAR-target markets while further strengthening our differentiated Central Division footprint. Through a tax-efficient exchange of cyclical cement and ready-mixed concrete assets for the largest aggregates acquisition in our Company’s history, we are enhancing the durability of our earnings while preserving ample balance sheet capacity to extend our long track record of disciplined strategic plan execution and compelling shareholder value creation. “As the capstone to our SOAR 2025 plan, this transaction accelerates our aggregates-led product strategy and completes a pivotal phase of portfolio transformation, positioning Martin Marietta exceptionally well to pursue core, growth-focused M&A opportunities as we launch SOAR 2030.” Updated 2026 Outlook The Company's updated 2026 Guidance below reflects continuing operations inclusive of contributions from the QUIKRETE transaction as of the close date and the Minnesota aggregates and FOB asphalt assets acquired from CRH in December 2025. 2026 UPDATED GUIDANCE (Dollars in Millions)MidpointRevenues$7,160 Adjusted EBITDA from continuing operations1$2,430 Capital expenditures$575     Aggregates   Volume % growth2 12.0%Organic Volume % growth2 2.0%ASP % growth3 2.5%Organic ASP % growth3 5.0%     Non-GAAP financial measure. A reconciliation for 2026 Adjusted EBITDA from continuing operations guidance is not av...