Description

Martin Marietta Materials Is Not Just An Aggregates Story Anymore — Lhoist Changes The Mix!

Martin Marietta Materials, Inc. reported a second quarter 2026 marked by record revenues and adjusted EBITDA, underpinned by strong demand in infrastructure and heavy nonresidential construction segments. Organic aggregates volume increased by 2.3%, representing the fourth consecutive quarter of growth, while mix-adjusted pricing rose approximately 3.7%. The company’s cost controls have been effective, with organic cost of goods sold per ton increasing only 3.6%, partly driven by a 150 basis point headwind from higher external freight costs. Excluding this, controllable cost growth remained below company projections. Although reported aggregates gross profit was impacted by a $52 million noncash inventory step-up charge and $42 million of higher depreciation, these are largely considered one-time adjustments with most fair value inventory impacts now behind the company. Adjusted cash gross profit for aggregates was up 15% year-over-year.