Highlights

  • Second quarter 2026 revenue rose 21% to $1.95 billion, while continuing operations earnings fell to $4.26 per diluted share.
  • Martin Marietta agreed on June 27 to acquire Lhoist North America for $13.5 billion in cash and shares.
  • Aggregates shipments rose 17% to 61.6 million tons, while average selling price per ton fell 2.0%.
  • The company repurchased 325,455 shares for $200 million in the first half, with 10.7 million shares of authorization remaining.

Martin Marietta Materials, Inc. (NYSE:MLM) shares were trading near their 52-week low at USD 507.16 on October 21, 2026, down 0.08%. The building materials company completed its asset exchange with QUIKRETE in February, signed a definitive agreement on June 27 to acquire Lhoist North America and reported second quarter 2026 results in a quarterly report filed July 30.

Martin Marietta is a North Carolina corporation based in Raleigh. It describes itself as a natural resource-based building materials company that supplies aggregates through about 500 quarries, mines and distribution yards in 29 states, Canada and The Bahamas, and also provides asphalt, paving and ready mixed concrete in selected markets. Its Building Materials business reports two segments, the East Group and the West Group, and a separate Specialties segment makes magnesia-based chemicals and dolomitic lime. Its fiscal year ends December 31.

Revenue Up 21%, Earnings Per Share Lower

Revenue for the quarter ended June 30, 2026 was $1.95 billion, up from $1.61 billion, helped by acquired operations. Gross profit was flat at $495 million, and earnings from operations declined to $372 million from $413 million. Earnings from continuing operations were $256 million, or $4.26 per diluted share, against $292 million, or $4.84.

Total diluted EPS, which includes discontinued operations, was $4.17 compared with $5.43. The quarter included after-tax charges of $45 million, or $0.74 per share, covering acquisition and integration costs, a $52 million charge for selling acquired inventory marked up under acquisition accounting, and an asset and portfolio rationalization charge.

Aggregates shipments rose 17% to 61.6 million tons, or 2.3% organically to 53.8 million. Average selling price fell 2.0% to $22.74 per ton, which the company attributed to acquisition mix, while organic price rose 2.1% to $23.70. Aggregates gross profit declined 3% to $418 million. Other Building Materials gross profit fell 14% to $34 million, while Specialties gross profit rose 39% to $50 million.

For six months, revenue was $3.31 billion and net earnings attributable to Martin Marietta were $1.76 billion, including about $1.4 billion of after-tax gain from discontinued operations on the QUIKRETE exchange. Cash from operations was $339 million, down from $605 million.

Lhoist North America, Financing and Leverage

Under the June 27 agreement, Martin Marietta will pay $13.5 billion for Lhoist North America (LNA), a producer of high-calcium and dolomitic lime and industrial minerals with 20 quarries and production facilities and 45 distribution terminals. Consideration is $7.0 billion in cash, subject to adjustments, plus 10,953,543 new shares valued at $6.5 billion, which would leave LNA holding about 15% of the outstanding common stock. Closing is expected in the second half of 2026, subject to regulatory and customary conditions.

The company expects to fund the cash portion with up to $7.0 billion of third-party debt. It paid a $26 million fee for a bridge commitment and, on July 15, secured a three-year $1.5 billion term loan commitment. On July 10 it amended its revolving facility covenant to allow a maximum net debt-to-EBITDA ratio of 4.75x for the first three quarters after closing, versus 3.50x currently,; it was in compliance at June 30.

At quarter end the company held $112 million of cash, $5.1 billion of long-term debt and $860 million of current maturities. It had $560 million drawn on its trade receivable facility, which matures September 16, 2026, and $95 million on its $800 million revolver, with $742 million of unused capacity. The February QUIKRETE exchange added aggregates operations producing about 20 million tons annually and $450 million in cash, in return for the Midlothian cement plant and Texas ready mixed assets.

What the Filing Says About the Road Ahead

The quarterly report contains no numeric financial guidance. It points to the LNA closing in the second half of 2026 and to the integration of LNA, NFM and the QUIKRETE assets. Its risk disclosures include aggregates pricing, weather, acquisition execution and debt covenant compliance after the LNA financing.