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Martin Marietta, Cemex end 2020 with plenty to celebrate

By |  February 16, 2021

Several of the public aggregate producers already shared their fourth-quarter 2020 results, including Vulcan Materials. Below is a glimpse at results from Martin Marietta, Cemex, MDU Resources and others.

Martin Marietta growth continues

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Martin Marietta’s building materials business achieved record fourth-quarter revenues and gross profit. The company’s products and services revenues of $1.05 billion increased 8.3 percent, and its product gross profit of $298.7 million increased 25.1 percent.

The building materials business experienced notable improvements in product demand during the fourth quarter, Martin Marietta says. The company benefitted from strong residential construction activity and milder weather conditions that extended the construction season.

Additionally, consistent with Martin Marietta management’s expectations, pricing remained resilient with growth in all product lines.

“In every respect, 2020 was extraordinary for Martin Marietta as we addressed and overcame challenges that were inconceivable a year earlier,” says Ward Nye, chairman and CEO of Martin Marietta. “Our resilient business model and team’s commitment to Martin Marietta’s vision and strategic priorities enabled us to achieve record fourth-quarter results and deliver record full-year profitability, and the best safety performance in our company’s history.”

Cemex’s U.S. earnings at 13-year high

Logo: Cemex

Cemex operations in the U.S., meanwhile, reported net sales of $1 billion in the fourth quarter – an increase of 8 percent from the same period of 2019.

Additionally, Cemex’s U.S. operating EBITDA (earnings before interest, tax, depreciation and amortization) increased 25 percent to $186 million versus the fourth quarter of 2019.

For 2020, Cemex’s U.S. business generated $747 million in EBITDA. That was the highest reported annual amount at Cemex since 2007, the company says.

MDU Resources ends 2020 on high note

Photo: MDU Resources logoAt MDU Resources Group, parent company of Knife River Corp., earnings increased 16 percent last year to $390.2 million. MDU Resources achieved 2019 earnings of $335.5 million.

Additionally, MDU Resources reports that its fourth-quarter earnings were $112.3 million. That figure compares to $95.1 million in the prior-year quarter.

“This is the second-best earnings result in our 97-year history, and we are incredibly proud of our employees’ dedication to ‘Building a Strong America’ despite the challenges 2020 presented,” says David Goodin, president and CEO of MDU Resources.

USLM business up

USLM United States Lime & Minerals logo 600x400

Lime and limestone sales drove United States Lime & Minerals’ (USLM) revenues up in the fourth quarter.

According to USLM, its fourth-quarter revenues came in 8 percent higher at $41 million. The company achieved fourth-quarter 2019 revenues of $38 million.

Carthage Crushed Limestone, which USLM acquired last July, contributed $2.3 million to the company’s revenues for the fourth quarter.

“During the fourth quarter [of] 2020, we continued to see strong demand from our construction customers, and we are encouraged by the return of demand from our steel and power generation customers, although the economic slowdown continues to adversely impact demand from oil and gas services customers,” says Timothy Byrne, president and CEO at USLM.

Eagle’s quarterly concrete, agg revenue down

Logo: Eagle Materials

Lastly, Eagle Materials reports that concrete and aggregate revenue decreased 7 percent to $43.5 million in the third quarter of its fiscal year, which ended Dec. 31.

The decline reflects the sale of Eagle’s northern California concrete and aggregate businesses during the first quarter of fiscal 2021, the company says.

Still, excluding the results from the sold businesses, Eagle says concrete and aggregate revenue was up 13 percent. Third-quarter operating earnings for concrete and aggregate increased 52 percent to $5.1 million, primarily reflecting improvements in organic concrete sales volume, concrete sales prices and operating efficiencies, as well as lower diesel fuel costs.


Featured photo: P&Q Staff

Kevin Yanik

About the Author:

Kevin Yanik is the editor-in-chief of Pit & Quarry magazine. Yanik can be reached at 216-706-3724 or kyanik@northcoastmedia.net.

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