Martin Marietta Materials, Inc. · NYSE:MLM
Martin Marietta Materials — Q2 2024 Earnings Presentation
14 slides from Martin Marietta Materials's earnings presentation, Aug 8, 2024
Slide 1: Q2 2024 Supplemental Information
Q2 2024 SUPPLEMENTAL INFORMATION* August 8, 2024 * All information provided in these slides is qualified in its entirety by reference to the Company's filings with the Securities and Exchange Commission (SEC), which are available on both the Company’s and the SEC’s websites.
Slide 2: Statement Regarding Safe Harbor for Forward-Looking Statements
Statement Regarding Safe Harbor for Forward-Looking Statements Investors are cautioned that all statements herein that relate to the future involve risks and uncertainties, and are based on assumptions that the Company believes in good faith are reasonable but which may be materially different from
Slide 3: Executive Summary
Dain EXECUTIVE SUMMARY Marietta
Slide 4: Q2 2024 Results
Q2 2024 RESULTS FINANCIAL HIGHLIGHTS AGGREGATES SHIPMENTS AGGREGATES AVERAGE SELLING PRICE (Tons in Millions) $1,764M 55 -2.8% 53 $19.37 +11.6% $21.61 Revenues -3% y-o-y $294M Returned Net Earnings from Continuing Operations Attributable to $346 Q2 2023 Q2 2024 Q2 2023 Q2 2024 Martin Marietta1 -16%
Slide 5: 2024 Guidance Summary
2024 GUIDANCE SUMMARY CONSOLIDATED FULL YEAR 2024 GUIDANCE KEY DRIVERS • Revised full-year 2024 Adjusted EBITDA2 of $2.2B at the $6.72B $2.10B $2.20B midpoint reflects weather-impacted first half results and revised second half shipment expectations due to weather Revenues Net Earnings from Continui
Slide 6: End Use Outlook
Dain END USE OUTLOOK Marietta
Slide 7: What We Are Tracking - Infrastructure
WHAT WE ARE TRACKING - INFRASTRUCTURE FEDERAL HIGHWAY CONTRACT AWARDS REMAIN ROBUST While highway, bridge and tunnel contract awards for the twelve-month period ending June 30, 2024, are effectively flat, infrastructure investment is predicted to remain well above historical levels. $74B $53B $250B
Slide 8: What We Are Tracking – Nonresidential
WHAT WE ARE TRACKING – NONRESIDENTIAL DODGE NONRESIDENTIAL SQUARE FOOTAGE STARTS MANUFACTURING CONSTRUCTION INVESTMENT (Sqft in Millions) Warehouse square footage declining, but (Seasonally adjusted annual rate, $ in Billions) $236B 1,700 forecasted outlook above pre-COVID levels June SAAR +19% YoY
Slide 9: Nonresidential Activity Varies by Sector
NONRESIDENTIAL ACTIVITY VARIES BY SECTOR CATEGORIES OUTLOOK COMMENTARY • Reshoring of U.S.-based manufacturing of critical products (e.g., automotive, Manufacturing batteries, semiconductors and pharmaceuticals) support product demand • Energy projects along the Gulf Coast continue to drive demand •
Slide 10: What We Are Tracking – Residential
WHAT WE ARE TRACKING – RESIDENTIAL SINGLE-FAMILY HOUSING STARTS (in ‘000s) Housing remains fundamentally underbuilt due to a decade of underbuilding despite notable population gains… 980 1,000 MORTGAGE RATES NAHB HOUSING MARKET INDEX …as mortgage and 7.0% 90 -52% affordability headwinds persist 4.1%
Slide 11: Appendix
PRMer, APPENDIX
Slide 12: Adjusted EBITDA
ADJUSTED EBITDA $ IN MILLIONS Three Months Three Months Ended Ended Earnings from continuing operations before Jun 30, 2024 Jun 30, 2023 interest; income taxes; depreciation, depletion and Net earnings from continuing operations attributable to amortization expense; the earnings/loss from $294 $347
Slide 13: 2024 Adjusted EBITDA Guidance at the Midpoint
2024 ADJUSTED EBITDA GUIDANCE AT THE MIDPOINT $ IN MILLIONS Year Ended Dec 31, 2024 Year Ended Earnings from continuing operations before Dec 31, 2023 interest; income taxes; depreciation, depletion and (Midpoint Guidance) amortization expense; the earnings/loss from Net earnings from continuing ope
Slide 14: Adjusted Aggregates Gross Profit and Gross Profit per Ton
ADJUSTED AGGREGATES GROSS PROFIT AND ADJUSTED AGGREGATES GROSS PROFIT PER TON IN MILLIONS, EXCEPT PER TON AMOUNTS Three Months Three Months Aggregates gross profit and aggregates gross profit Ended Ended per ton excluding the impact of the inventory Jun 30, 2024 Jun 30, 2023 markup (“adjusted aggreg
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