Reports Q4 revenue $1.608B, consensus $1.63B. Ward Nye, Chair and CEO of Martin Marietta, stated, “A strong fourth quarter capped the best year in our company’s history. In fact, 2023 was extraordinary in nearly every respect for Martin Marietta. We achieved the safest and most profitable year ever while enhancing the durability of our business through enterprise excellence together with undertaking non-core asset divestitures. The team’s disciplined execution of our proven value-over-volume commercial strategy drove an organic improvement of 33.0% and 46.4% in full-year Adjusted EBITDA and aggregates unit profitability, respectively. These accomplishments, notwithstanding a macroeconomic backdrop that was highlighted by restrictive monetary policy, a housing slowdown and rising geopolitical tensions, demonstrate the resiliency of our aggregates-led business model and position us well for continued success in 2024 and beyond.
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