RALEIGH, N.C.--(BUSINESS WIRE)--Martin Marietta Materials, Inc. (NYSE:MLM) today reported strong results for the first-quarter ended March 31, 2017.
First Quarter 2017 Operational and Financial Highlights:
(All comparisons are versus prior-year first quarter)
- Record consolidated net sales of $791.7 million increased 7.9% compared with $734.0 million
- Record Building Materials net sales of $728.4 million compared with $674.5 million, an increase of 8.0%, and record Magnesia Specialties net sales of $63.3 million compared with $59.5 million, an increase of 6.4%
- Record consolidated gross profit of $147.1 million compared with $145.3 million
- EBITDA of $147.7 million
- Aggregates product line pricing increase of 5.3%; volume relatively flat
- Returned $126.6 million to shareholders through the repurchase of 458,000 shares and dividends
Ward Nye, Chairman, President and CEO of Martin Marietta, stated, “Our strong first-quarter results mark a solid beginning to a very promising year. The vibrant construction environment for our infrastructure, non-residential and residential markets is encouraging. We are optimistic about the remainder of 2017 and beyond as we see increased momentum across almost our entire geographic footprint, aided by the ongoing, durable economic recovery and employment growth.
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