NYSE$MLM

Martin Marietta Materials Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Reported record fourth-quarter and full-year results, setting full-year records for revenues, profitability, and safety performance.

Martin Marietta reported a momentous year of growth in 2021, delivering the most profitable and safest year in the Company’s history. The company completed $3.1 billion in value-enhancing acquisitions, expanding geographic footprint and product offerings.

  • Set Full-Year Records for Revenues, Profitability and Safety Performance
  • Delivered Full-Year 2021 Adjusted EBITDA Exceeding $1.5 Billion
  • Stronger Product Demand Experienced Enterprise-Wide; Organic Aggregates Shipments Increased 9 Percent in Fourth Quarter and 4 Percent for Full Year
  • Accelerating Demand and Pricing Momentum Underpin 2022 Guidance

Headline financials

Total Revenue

$1.41B

Previous: $1.11B+26.5%
EPS (adj)

$3.15

Previous: $2.93+7.5%
Aggregates Shipments (tons)

54.2M

Previous: 45.2M+19.9%
Average Selling Price per Ton

$15.09

Previous: $14.88+1.4%
Capital Expenditures

$102M

Previous: $109M-6.5%
Free Cash Flow

$256M

Previous: $257M-0.6%
Net Income

$156M

Previous: $183M-14.6%
Operating Income

$210M

Previous: $241M-12.7%
Gross Profit

$347M

Previous: $325M+6.5%
Cash & Equivalents

$258M

Previous: $207M+24.7%
Total Assets

$14.4B

Previous: $10.6B+36.0%
Stock-Based Comp

$10M

Previous: $7.6M+31.6%

Revenue & EPS history

Martin Marietta · Revenue · Quarterly

$1.41B

Q4 2021+26.5%vs Q4 2020
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Revenue by segment

Martin Marietta · $1.42B total across 1 segment · Q4 2021

  • Building Materials Business
    $1.42B

Forward guidance

Martin Marietta remains confident that favorable pricing dynamics will continue, supported by the Company’s locally-driven pricing strategy, and attractive underlying fundamentals and long-term secular growth trends in its key geographies should drive multi-year growth in construction materials.

Tailwinds

  • Favorable pricing dynamics will continue.
  • Company’s locally-driven pricing strategy.
  • Attractive underlying fundamentals.
  • Long-term secular growth trends in its key geographies should drive multi-year growth in construction materials.
  • Enhanced federal- and state-level surface transportation investment, single-family housing strength, and notable heavy industrial projects should drive robust product demand in 2022.

Headwinds

  • Fluctuations in COVID-19 cases in the United States
  • Potential declines of the Company’s various construction end-use markets
  • Potential negative impact of the COVID-19 pandemic on the Company’s ability to continue supplying heavy-side building materials and related services at normal levels or at all in the Company’s key regions
  • The duration, impact and severity of the impacts of the COVID-19 pandemic on the Company, including the markets in which it does business, its suppliers, customers or other business partners as well as on its employees
  • The economic impact of government responses to the pandemic

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

+1.2%

Avg return

Earnings day

+1.2%

Avg return

5 days after

+0.6%

Avg return

30 days after

58%

40 / 69 earnings

Positive

+17.6%

Q4 2014

Best reaction

-8.5%

Q1 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.2%-1.1%-5.0%
Q4 2025-6.6%-4.1%-17.6%
Q3 2025+1.0%-1.4%-0.1%
Q2 2025+0.4%+2.9%+4.1%
Q1 2025+3.8%+7.4%+8.5%
Q4 2024-2.2%-0.3%-9.7%
Q3 2024+1.4%-0.3%+2.8%
Q2 2024-0.9%-2.1%-6.7%
Q1 2024-2.0%-1.9%-5.9%
Q4 2023+1.6%+2.4%+13.1%
Q3 2023+7.8%+8.0%+14.3%
Q2 2023-2.1%-1.1%-4.6%
Q1 2023+7.9%+8.2%+12.6%
Q4 2022+3.6%+4.3%-10.0%
Q3 2022-0.8%+2.5%+9.4%
Q2 2022+4.8%+4.9%+4.7%
Q1 2022+6.2%-2.6%-2.3%
Q4 2021-1.0%+0.5%-3.2%
Q3 2021+4.5%+5.6%+6.0%
Q2 2021-1.1%-1.3%+4.6%
Q1 2021+5.6%+6.7%+1.4%
Q4 2020+5.0%+9.9%+13.2%
Q3 2020+7.6%+11.6%+9.5%
Q2 2020-6.1%-9.1%-8.3%
Q1 2020-8.5%-7.4%+10.9%
Q4 2019-6.1%-4.8%-32.9%
Q3 2019-0.8%-2.1%+1.1%
Q2 2019+10.6%+9.8%+13.1%
Q1 2019+2.3%+3.4%-0.8%
Q4 2018-3.0%+2.2%+3.1%
Q3 2018+8.5%+5.4%+6.5%
Q2 2018-7.7%-10.6%-7.7%
Q1 2018+3.9%+5.3%+12.2%
Q4 2017+1.4%+1.6%-3.4%
Q3 2017-2.5%-3.3%-6.7%
Q2 2017-4.5%-5.3%-6.4%
Q1 2017+7.2%+6.6%+2.3%
Q4 2016-4.1%-6.0%-9.1%
Q3 2016+2.7%+3.7%+19.2%
Q2 2016+2.0%+1.0%-6.5%
Q1 2016+5.0%
Q4 2015+11.5%
Q3 2015-6.1%
Q2 2015+8.7%
Q1 2015+8.5%
Q4 2014+17.6%
Q3 2014-4.6%
Q2 2014-0.2%
Q1 2014+6.4%
Q4 2013+5.1%
Q3 2013+1.2%
Q2 2013-1.8%
Q1 2013+1.0%
Q4 2012+1.5%
Q3 2012+2.2%
Q2 2012-4.5%
Q1 2012+0.1%
Q4 2011-1.2%
Q3 2011+2.8%
Q2 2011-1.5%
Q1 2010-3.2%
Q1 2011+2.1%
Q4 2010+2.1%
Q4 2008+2.1%
Q3 2009+2.5%
Q3 2010+2.5%
Q2 2010-6.6%
Q2 2009-6.6%
Q4 2009-6.6%

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