RALEIGH, North Carolina (November 1, 2016) - Martin Marietta Materials, Inc. (NYSE:MLM) today reported results for the third quarter ended September 30, 2016.
Ward Nye, Chairman, President and CEO of Martin Marietta, stated: “Our ability to take advantage of a slow and steady economic expansion and improvement across our markets helped us achieve exceptional performance in each of our business units. For the third quarter of 2016, we delivered significant margin expansion and achieved record gross profit, net earnings and earnings per diluted share from our record net sales for the period. Aggregate product line pricing increased approximately 9 percent which, coupled with our focus on diligent cost control, allowed us to leverage the increased net sales into a 210-basis-point improvement in consolidated gross margin (excluding freight and delivery revenues), generating a 91 percent incremental gross margin (excluding freight and delivery revenues). Overall, our record performance across our business underscores our ability to deliver top- and bottom-line growth."
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