Martin Marietta logs fourth-quarter, full-year results

By |  February 14, 2017

martin marietta logoMartin Marietta Materials revealed its fourth-quarter and full-year performance results.

For the fourth quarter of 2016, Martin Marietta achieved net sales of $889 million, compared to $780.8 million in the fourth quarter of 2015. The company profited $98.9 million in the quarter.

On a per-share basis, Martin Marietta had a $1.55 profit in the fourth quarter. These results fell short of Wall Street expectations, according to Automated Insights, using data from Zacks Investment Research. The average estimate of four analysts Zacks surveyed was for earnings of $1.66 per share.

For all of 2016, Martin Marietta’s net sales were $3.58 billion, up from $3.27 billion in 2015. The company’s reported annual profit was $425.4 million.

According to Martin Marietta, for 2016, shipments to the infrastructure market comprised 39 percent of aggregate product line volumes. Project delays and continued significant rainfall during the year contributed to a year-over-year decline in infrastructure volume, the company says.

In addition, aggregate product line shipments increased 1.4 percent for the year. Full-year aggregate product line pricing increased in all reportable groups, and its gross margin was 26.9 percent.

“As demonstrated by our fourth-quarter and full-year results, we continue to capitalize on the economic recovery occurring in virtually all of our segments and geographies,” says Ward Nye, chairman, president and CEO of Martin Marietta. “We delivered record net sales, gross profit, net earnings and earnings per diluted share for both the fourth quarter and full year – building on the record results delivered in 2015 and the first three quarters of 2016.”

Nye says he expects pricing, volume and cost to remain positive in 2017.

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About the Author:

Allison Kral is the former senior digital media manager for North Coast Media (NCM). She completed her undergraduate degree at Ohio University where she received a Bachelor of Science in magazine journalism from the E.W. Scripps School of Journalism. She works across a number of digital platforms, which include creating e-newsletters, writing articles and posting across social media sites. She also creates content for NCM's Portable Plants magazine, GPS World magazine and Geospatial Solutions. Her understanding of the ever-changing digital media world allows her to quickly grasp what a target audience desires and create content that is appealing and relevant for any client across any platform.

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