Martin Marietta Reports Decline In Q1 Earnings Despite Strong Divestiture Gains
Martin Marietta Reports Decline In Q1 Earnings Despite Strong Divestiture Gains
Martin Marietta Materials Inc (NYSE:MLM) reported a first-quarter 2024 revenue decline of 7.6% year-over-year to $1.251 billion.
馬丁瑪麗埃塔材料公司（紐約證券交易所代碼：MLM）報告稱，2024年第一季度收入同比下降7.6％，至12.51億美元。
The company missed the consensus of $1.318 billion.
該公司未達到13.18億美元的共識。
EPS from continuing operations was $16.87, compared to $2.16 a year ago.
持續經營業務的每股收益爲16.87美元，而去年同期爲2.16美元。
Gross profit was $272 million (-9.7% Y/Y), and the margin contracted to 21.7% from 22.4% a year ago.
毛利爲2.72億美元（同比下降9.7％），利潤率從去年同期的22.4％收縮至21.7％。
Building Materials business revenue was $1.17 billion (-8% Y/Y), and the corresponding gross profit was $248 million (-10% Y/Y).
建築材料業務收入爲11.7億美元（同比下降8％），相應的毛利爲2.48億美元（同比下降10％）。
Aggregate shipments decreased by 12.3%, while the average selling price increased by 12.2%, or 14.3%, on a mix-adjusted basis.
經混合調整後，總出貨量下降了12.3％，而平均銷售價格上漲了12.2％，增長了14.3％。
Adjusted EBITDA declined 10.2% Y/Y to $291 million in the quarter, with a margin of 23.3%, down 67 bps.
本季度調整後的息稅折舊攤銷前利潤同比下降10.2％，至2.91億美元，利潤率爲23.3％，下降67個點子。
Martin Marietta operating cash flow was $172 million compared with $161 million for the prior year.
馬丁·瑪麗埃塔的運營現金流爲1.72億美元，而去年同期爲1.61億美元。
The company held $2.6 billion of unrestricted cash, and $1.2 billion of unused borrowing capacity on its existing credit facilities as of March 31.
截至3月31日，該公司持有26億美元的非限制性現金和12億美元的現有信貸額度的未使用借款能力。
The company returned $197 million to shareholders through dividend payments and share repurchases in the quarter.
該公司在本季度通過股息支付和股票回購向股東返還了1.97億美元。
"Martin Marietta completed over $4.5 billion of portfolio-enhancing transactions thus far in 2024, increased our aggregates gross profit per ton by over 14 percent for the quarter, and achieved record quarterly gross profit in our Magnesia Specialties business – all notwithstanding the year's weather-challenged start in our most profitable markets. Collectively, these notable accomplishments give us confidence in our ability to increase our full-year 2024 Adjusted EBITDA guidance to $2.37 billion at the midpoint," commented Ward Nye, Chairman and CEO of Martin Marietta.
“馬丁·瑪麗埃塔在2024年迄今爲止完成了超過45億美元的增強投資組合的交易，本季度我們的每噸總毛利增長了14％以上，我們的氧化鎂特種業務實現了創紀錄的季度毛利——儘管今年我們最賺錢的市場開局受到了天氣的挑戰。總的來說，這些顯著的成就使我們有信心將2024年全年調整後的息稅折舊攤銷前利潤預期在中點提高到23.7億美元。” 馬丁·瑪麗埃塔董事長兼首席執行官沃德·奈評論道。
2024 Guidance revised: Martin Marietta Materials expects total revenues of $6.9 billion-$7.3 billion vs. consensus $7.07 billion and adjusted EBITDA of $2.3 billion-$2.44 billion.
修訂後的2024年指導方針：馬丁·瑪麗埃塔材料公司預計總收入爲69億至73億美元，而市場普遍收入爲70.7億美元，調整後的息稅折舊攤銷前利潤爲23億至24.4億美元。
The company expects average selling price growth of 11%-13% for Aggregates.
該公司預計，Aggregates的平均銷售價格將增長11％-13％。
Price Action: MLM shares are trading lower by 2.72% at $586.22 at the last check Tuesday.
價格走勢：在週二的最後一次檢查中，傳銷股價下跌2.72％，至586.22美元。
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