Martin Marietta reports higher earning despite weaker volumes
Published by Jonathan Rowland,
Editor
World Cement,
US building materials company, Martin Marietta, reported slightly lower cement sales in 2017 on lower sales to external customers. Total volumes fell to 3.48 million t, compared to 3.52 million t with external sales down at 2.27 million t, compared to 2.33 million t.
Internal sales used by Martin Marietta’s over product lines were steady at 1.19 million t.
Despite the slight fall in volumes, revenues were up year-on-year at US$3.841 million, compared to US$375.8 million, on higher pricing “reflecting strong ongoing construction activity in the Dallas/Fort Worth area”. Cement shipment trends were also more positive going through the fourth quarter, with shipments up 1.7%.
Total revenues from the company’s building material business hit US$3.695 billion for the year, with earnings breaking the US$1 billion market at US$1.004 billion.
“We achieved these results despite externally-driven volume headwinds prevalent throughout much of the year,” said Ward Nye, Chairman, President, and CEO of Martin Marietta.
“Looking ahead to 2018, the fundamental drivers for broad-based construction activity support our optimism that we will continue to benefit from a steady multi-year cyclical recovery,” Nye continued. “Our leading positions in many of the nation's most attractive and vibrant markets should allow us to capitalise on anticipated increased demand for infrastructure projects and private-sector construction activity in 2018 and beyond.”
Read the article online at: https://www.worldcement.com/the-americas/08032018/martin-marietta-reports-higher-earning-despite-weaker-volumes/
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