Martin Marietta releases third-quarter results

Ward Nye, president and CEO of Martin Marietta Materials Inc., noted several positive trends in construction activity upon the company’s public release of third-quarter results Tuesday.

One positive trend Nye noted is the continued recovery and growth in the residential sector end-use market, which is reporting a 14 percent increase in heritage aggregates product line shipments over the prior-year quarter. MAP-21 is another positive trend Nye pointed out, citing the fact that several key states the company serves are taking steps to use various funding alternatives to support infrastructure projects.

“It seems a backlog of construction work is awaiting, what we believe to be, a general restoration of confidence in the current economic and political environment,” Nye said. “We anticipate these positive trends will continue and provide the prospect for increasing volume momentum as we move forward into 2013.”

In the third quarter, Martin Marietta saw a 27 percent increase over the prior-year quarter in earnings per diluted share. Shares finished at $1.36. Martin Marietta’s consolidated net sales through the third quarter this year were $539.1. Through the third quarter last year, sales were $445.0 million.

“Consolidated net sales increased over 20 percent, with the recently acquired Denver area businesses contributing $92 million in the quarter,” Nye said. “These operations once again exceeded our expectations, reflecting positive construction trends in that market where the rate of growth in highway contract awards ranks among the highest in the country, and, importantly, construction-related employment is well above the national average.”