Martin Marietta Materials, Inc. · NYSE:MLM
Martin Marietta Materials — Q1 2024 Earnings Presentation
16 slides from Martin Marietta Materials's earnings presentation, Apr 30, 2024
Slide 1: Q1 2024 Supplemental Information
Q1 2024 SUPPLEMENTAL INFORMATION* April 30, 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: Q1 2024 Results
Q1 2024 RESULTS FINANCIAL HIGHLIGHTS AGGREGATES SHIPMENTS AGGREGATES AVERAGE SELLING PRICE (in Millions) ($) $1,251M $1,045M 42 -12.3% $19.83 +12.2% $22.26 Total Revenues Net Earnings from Continuing 37 -8% y-o-y Operations Attributable to Martin Marietta +680% y-o-y $291M 23% Adjusted EBITDA1 Adjus
Slide 5: 2024 Guidance Summary and End Market Outlook
2024 GUIDANCE SUMMARY AND END MARKET OUTLOOK CONSOLIDATED FULL YEAR 2024 GUIDANCE End Market Outlook $7.10B $2.26B $2.37B INFRASTRUCTURE Supported by funding from the Infrastructure Total Net Earnings from Continuing Adjusted Investment and Jobs Act (IIJA), record state Revenues Operations Attributa
Slide 6: Strategic Plan Execution: Cement and Ready Mixed Concrete as Consideration for Pure Aggregates
STRATEGIC PLAN EXECUTION: CEMENT AND READY MIXED CONCRETE AS CONSIDERATION FOR PURE AGGREGATES ACTIVE PORTFOLIO MANAGEMENT… …ENHANCES DURABILITY THROUGH CYCLES Acquisitions Divestitures 2023 Revenues 2023 Gross Profit Cement & Mag 5% Cement & Mag 5% 1 S. TX Cement and RMC Downstream Downstream 2 CA
Slide 7: End Use Outlook
Dain END USE OUTLOOK Marietta
Slide 8: Unprecedented Public Investment in Highways and Domestic Manufacturing
UNPRECEDENTED PUBLIC INVESTMENT IN HIGHWAYS AND DOMESTIC MANUFACTURING FEDERAL STATE AND LOCAL $72B $7B FY2023 Total Federal Highway Investment Transportation Funding Approved in 2023 by State and Local Ballot Initiatives $53B +10% $82 B CHIPS Act Funding for Semiconductor $74 B Research, Developmen
Slide 9: Significant Increase in Highway Contract Awards
SIGNIFICANT INCREASE IN HIGHWAY CONTRACT AWARDS… Highway, bridge and tunnel contract awards increased to $116B for LTM February 2024, driven by the Infrastructure Investment and Jobs Act and COVID relief funds; a positive leading indicator of future infrastructure construction activity ($ in Billion
Slide 10: Nonresidential Activity Varies by Sector
NONRESIDENTIAL ACTIVITY VARIES BY SECTOR CATEGORIES OUTLOOK COMMENTARY • Reshoring of U.S.-based manufacturing of critical products (e.g., Manufacturing semiconductors, batteries and electric vehicles) • Industrial construction strength along the Gulf Coast continues to drive robust demand Energy •
Slide 11: Continued Strength in Energy and Manufacturing with Green Shoots from Data Centers
CONTINUED STRENGTH IN ENERGY AND MANUFACTURING WITH GREEN SHOOTS FROM DATA CENTERS MANUFACTURING CONSTRUCTION INVESTMENT SELECT PROJECT EXAMPLES ACROSS OUR FOOTPRINT (Seasonally adjusted annual rate, $ in Billions) $223B AI Data Center Battery Gigafactory Kansas City, MO Manufacturing Kokomo, IN Gre
Slide 12: Encouraging Residential Trends
ENCOURAGING RESIDENTIAL TRENDS… SEASONALLY ADJUSTED SINGLE-FAMILY STARTS (000s) 1,500 Key 100 Single-family Starts (000s) Single-family housing starts have 1,311 been encouraging, despite ongoing NAHB Housing Market Index / HMI (ranges 0 to 100) 1,227 1,173 1,2311,217 1,211 affordability headwinds.
Slide 13: Supported by Notable Population Gains in Key Martin Marietta States
…SUPPORTED BY NOTABLE POPULATION GAINS IN KEY MARTIN MARIETTA STATES POPULATION CHANGE BY REGION PERCENT CHANGE IN STATE POPULATION July 1, 2022 to July 1, 2023 July 1, 2022 to July 1, 2023 +1.1% 1,423,260 +0.2% +0.2% 126,255 137,299 (0.1%) (43,330) NORTHEAST MIDWEST SOUTH WEST Percent change 1.00 o
Slide 14: Appendix
PRMer, APPENDIX
Slide 15: Adjusted EBITDA
ADJUSTED EBITDA $ IN MILLIONS Three Months Three Months Ended Ended Earnings from continuing operations before Mar 31, 2024 Mar 31, 2023 interest; income taxes; depreciation, depletion and amortization expense; the earnings/loss from Net earnings from continuing operations attributable to Martin Mar
Slide 16: 2024 Adjusted EBITDA Guidance at the Midpoint
2024 ADJUSTED EBITDA GUIDANCE AT THE MIDPOINT $ IN MILLIONS Year Ended Dec 31, 2024 Earnings from continuing operations before (Midpoint Guidance) interest; income taxes; depreciation, depletion and Net earnings from continuing operations attributable to Martin Marietta $2,255 amortization expense;
Martin Marietta Materials — Q1 2024 Earnings Presentation on 6ix