Martin Marietta shares expectations for 2015

By |  February 12, 2015

Nonresidential construction is expected to increase. Residential construction should continue to grow. Energy-related economic activity is anticipated to remain strong. And highway funding should remain stable.

Taking these factors into account, Martin Marietta expects its business to increase this year in a number of areas. Martin Marietta, which recently released its 2014 fourth-quarter and year-end report, offered some perspective on its expectations for the markets it serves upon releasing the report.

“We are excited about the stronger and broader foundation we have created for Martin Marietta, allowing us to achieve even greater success in the years ahead,” says Ward Nye, chairman, president and CEO of Martin Marietta. “The TXI (Texas Industries) acquisition transformed the company and has us well positioned to benefit from future growth across our markets.”

In 2015, Martin Marietta forecasts its infrastructure market to increase by “mid-single digits”; the nonresidential market to increase in the “high-single digits”; and the residential market to experience a “double-digit increase.”

In addition, the company expects aggregates shipments to increase between 10 and 12 percent compared with 2014 levels. Martin Marietta expects pricing to increase between 4 and 6 percent compared with 2014.

“We continue to focus on maximizing the synergistic value of the TXI transaction,” Nye says. “To that end, we now expect to achieve annual synergies of $100 million by the end of 2016, an increase of more than 40 percent compared with our previously announced target. Our 2015 plan assumes achievement of our targeted general and administrative synergies.”

Kevin Yanik

About the Author:

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

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