Martin Marietta Materials earnings date
Martin Marietta Materials (MLM) Q3 2026 Earnings Report
MX:MLM Q3 2026 EPS Results
- Actual EPS
- MXN 101.76
- Consensus EPS
- MXN 111.39
- Beat/Miss
- Missed by -MXN 9.64
- One Year Ago EPS
- MXN 111.06
MX:MLM Q3 2026 Revenue Results
- Actual Revenue
- MXN 44.07B
- Expected Revenue
- MXN 41.75B
- Beat/Miss
- Beat by +MXN 2.32B
- YoY Revenue Growth
- +28.33%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/04/2026
- Time
- Before Open
- Conference Call
- Wednesday, November 4, 2026
Martin Marietta Materials's next earnings date is estimated for February 17, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was predominantly positive. Record third-quarter revenue, cash gross profit and free cash flow, strong LNA performance, progress on integration and network optimization, resilient infrastructure demand, and constructive 2027 pricing and margin expectations outweighed the acknowledged challenges from softer organic shipments, elevated diesel and energy costs, weak rate-sensitive construction markets, negative fourth-quarter price-cost performance and higher transaction-related leverage.
For 2026, Martin Marietta updated its full year revenue and adjusted EBITDA guidance midpoints to $7.8 billion and $2.48 billion, respectively, including LNA contributions, October shipment trends and an assumed normal winter; LNA’s stub period contribution is about $290 million of EBITDA, with approximately $500 million of debt repayment planned. For 2027, preliminary guidance calls for mid to high single digit mix adjusted aggregates pricing growth, full year reported ASP growth in the mid single digit range, margin expansion, and about $820 million of LNA EBITDA, with 23% of profits expected in Q1, 27%-ish in Q2, 27% in Q3, and 23% in Q4. Planning assumes about 50 million gallons of aggregates diesel consumption at current spot rates of about $4.70 a gallon, while 2027 CapEx is expected to be about 25% of EBITDA and the targeted leverage range is 2 to 2.5x net debt to adjusted EBITDA. For Q4, the guide implies down high single digit volume, up on a reported organic basis about 2% pricing, and continued elevated COGS inflation, with Q4 expected to remain price cost negative.
- Record Third-Quarter Financial PerformanceMartin Marietta reported record financial performance in the third quarter, with core aggregates revenue of $1.7 billion, up 14%, and cash gross profit of $696 million, up 6%.
- Strong Aggregate Shipment GrowthAggregate shipments increased 15.9% to 67.1 million tons, as acquisition contributions more than offset a 1.1% decline in organic shipments.
- Organic Pricing IncreasedExcluding acquisition and geographic mix, organic aggregates pricing increased 2.7% in the quarter.
- LNA Transaction Exceeded Initial ExpectationsFor the August 21 through September 30 period, Lhoist North America generated $216 million of revenue and $115 million of cash gross profit, well ahead of initial expectations. The business also generated $104 million of adjusted EBITDA at a 48%-plus margin during the approximately 40 days after closing.
- LNA Integration and Synergy ProgressManagement said LNA integration is on track, work streams are well underway, cultures have aligned, and synergy realization is progressing well. The company expects additional value from cross-selling aggregates and lime into hot-mix, Texas megaprojects, DOT, data center and other heavy private nonresidential projects.
- Record Specialties PerformanceThe specialties business delivered record quarterly revenue of $362 million and record cash gross profit of $163 million. Revenue and pricing for the lime business were both up nicely, with revenue up about double digits during the period ended in September, and October trends described as similar despite one fewer shipping day.
- Record Free Cash Flow and Cash-Flow ActionsThird-quarter free cash flow reached a record $426 million, up 18%. Year to date, disciplined inventory management unlocked $135 million and capital expenditures were $157 million lower than the prior-year period; together these actions contributed more than $290 million of free cash flow improvement. Management reaffirmed its $350 million incremental cash flow target.
- Updated 2026 GuidanceThe company updated its 2026 revenue and adjusted EBITDA guidance midpoints to $7.8 billion and $2.48 billion, respectively, reflecting stronger acquisition contributions and year-to-date performance.
- Constructive 2027 Pricing OutlookPreliminary 2027 guidance anticipates mid to high single digit mix-adjusted aggregates pricing growth, supported by January 1 pricing actions for fixed-base customers, fourth-quarter 2026 pricing on new quoted work and midyear pricing carryover across acquired businesses. Full-year reported average selling price growth is expected to be in the mid single digit range.
- Expected 2027 Margin ExpansionManagement expects 2027 margin expansion driven primarily by mid to high single digit mix-adjusted aggregates pricing growth, ongoing network optimization, disciplined cost management and a full-year contribution from LNA. The company expects these benefits to more than offset continued inflationary pressure.
- Resilient Infrastructure FundingInfrastructure was described as the company's most resilient and aggregates-intensive end market. Forty percent of Infrastructure Investment and Jobs Act funding remains to be spent, state transportation budgets in key markets remain at historically elevated levels, and more than 60% of funding across the company's top states comes from state and other nonfederal sources.
- No State Letting Delays ReportedManagement said California, Texas, Georgia, Missouri, South Carolina, Colorado and Iowa are maintaining or increasing transportation investment, while North Carolina and Florida have adequate funding for next year. The company has not seen delays in state project lettings.
- Data Center and Warehouse Demand StrengthData center project shipments more than doubled year over year in the third quarter. Warehouse and distribution construction was up approximately 51% year to date, and management expects the recovery to continue. Infrastructure, data centers, power generation and warehouses together account for approximately 50% of aggregate shipments.
- Long-Term Power Generation OpportunityManagement highlighted power generation as a longer-term opportunity supported by data center and electrification-related energy demand. The U.S. Energy Information Administration projects U.S. electricity demand to increase 25% to 50% by 2050.
- Network Optimization BenefitsNetwork optimization actions have been executed in roughly half of the company's divisions, with further opportunities under review. Benefits include reduced operating expenses, lower capital expenditures and lower inventory through the sale of stockpiles at idled locations, while sites can be restarted if market demand requires it.
- Disciplined Cost ManagementExcluding external freight, organic cost of goods sold increased 5.1% in the quarter and 3.8% year to date; excluding the diesel spike, the increases were limited to 2.6% and 2.2%, respectively. Organic labor cost per ton, the company's largest cost category, was flat for both the quarter and year to date.
- LNA Earnings and Cash-Flow OutlookManagement expects LNA to contribute approximately $820 million of EBITDA in 2027, with approximately 23% of profits in each of the first and fourth quarters and approximately 27% in each of the second and third quarters. LNA was described as requiring limited capital expenditures and generating strong cash-flow conversion.
- Deleveraging Plan and Continued Investment CapacityMartin Marietta plans to deleverage to a targeted range of 2 to 2.5x net debt to adjusted EBITDA while retaining investment-grade credit ratings. The company expects approximately $500 million of debt repayment in the coming weeks and said it will continue appropriate capital investment and aggregate bolt-on acquisitions.
MX:MLM Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 17, 2027 | 2026 (Q4) | 60.91- | 71.62 | ― | ― |
| Nov 04, 2026 | 2026 (Q3) | 111.39101.76 | 111.06 | -8.38% (-9.30) | |
| Jul 30, 2026 | 2026 (Q2) | 88.5193.01 | 101.01 | -7.92% (-8.00) | |
| Apr 30, 2026 | 2026 (Q1) | 33.1935.90 | 35.35 | 1.58% (+0.56) | |
| Feb 11, 2026 | 2025 (Q4) | 89.0171.62 | 89.11 | -19.62% (-17.49) | |
| Nov 04, 2025 | 2025 (Q3) | 124.97111.06 | 109.94 | 1.02% (+1.12) | |
| Aug 07, 2025 | 2025 (Q2) | 98.84101.01 | 88.55 | 14.08% (+12.46) | |
| Apr 30, 2025 | 2025 (Q1) | 34.9735.35 | 35.9 | -1.55% (-0.56) | |
| Feb 12, 2025 | 2024 (Q4) | 85.2889.11 | 86.13 | 3.46% (+2.98) | |
| Oct 30, 2024 | 2024 (Q3) | 116.25109.94 | 129.1 | -14.84% (-19.16) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
