Martin Marietta, a supplier of aggregates, cement, ready-mixed concrete, and asphalt to the US market, reported sales in its building materials business of US$728.4 million in 1Q17, an increase of 8% on the previous year. The increase was driven by price improvements across its product lines, including a 2.5% rise in its cement pricing.
Cement prices in 2Q17 will benefit from an announced US$8 per short ton price increase that came into effect on 1 April 2017, the company added.
“Our results for the quarter are particularly impressive when considering the comparison against a record first quarter in 2016,” said Ward Nye, Chairman, President, and CEO of Martin Marietta. “Importantly, our 2017 performance was driven by each product line in our building materials business, generating solid top-line growth.”
Geographically, economic recovery in the southeastern US – an area that was hard hit during the2007/08 financial crisis, delivered robust growth in 1Q17 in Georgia and Florida, with the strongest outlook in the region for a number of years, Nye added.
“We remain highly confident that we are in a multi-year construction recovery,” Nye concluded.
Read the article online at: https://www.worldcement.com/the-americas/09052017/martin-marietta-1q17-sales-up-8-on-previous-year/