Martin Marietta Completes Acquisition of Aggregates Operations From Affiliates of Blue Water Industries LLC and Announces First-Quarter 2024 Earnings Conference Call
08 Aprile 2024 - 12:55PM
Martin Marietta Materials, Inc. (NYSE: MLM) (Martin Marietta or the
Company) today announced that, on April 5, 2024, it completed its
previously announced acquisition of 20 active aggregates operations
in Alabama, South Carolina, South Florida, Tennessee, and Virginia
from affiliates of Blue Water Industries LLC (BWI Southeast) for
$2.05 billion in cash. This portfolio optimizing transaction
improves the Company’s product mix, margin profile and durability
through economic cycles by adding another pure aggregates business
to its already aggregates-led portfolio.
Ward Nye, Chairman, President and CEO of Martin
Marietta stated, “The BWI Southeast acquisition naturally
complements Martin Marietta’s existing geographic footprint in the
dynamic southeast region by allowing us to expand into new growth
platforms in SOAR-specific target markets including Nashville and
Miami. Combined with the recent acquisition of Albert Frei &
Sons, Inc. in Colorado, these two pure-play aggregates transactions
provide approximately 1 billion tons of proven, high-quality
reserves and are expected to generate more than $180 million of
annualized EBITDA.”
Martin Marietta will host its first-quarter 2024
earnings conference call on Tuesday, April 30, 2024, at 10:00 a.m.
Eastern Time. The Company will release results for the quarter
ended March 31, 2024, and its revised full year 2024 Adjusted
EBITDA guidance inclusive of the BWI Southeast acquisition that
morning before the market opens.
A live, listen-only webcast and supplemental
information will be accessible on the Investors section of the
Company’s website at www.martinmarietta.com. The conference call
may also be accessed by dialing +1 (206) 962-3782 and using
conference ID 60922384. Please dial in at least 15 minutes in
advance to ensure a timely connection to the call. An on-demand
replay will be available on the Company’s website approximately two
hours following the conclusion of the live broadcast and will be
available for one year.
About Martin Marietta
Martin Marietta, a member of the S&P 500
Index, is an American-based company and a leading supplier of
building materials, including aggregates, cement, ready mixed
concrete and asphalt. Through a network of operations spanning 28
states, Canada and The Bahamas, dedicated Martin Marietta teams
supply the resources for building the solid foundations on which
our communities thrive. Martin Marietta’s Magnesia Specialties
business produces high-purity magnesia and dolomitic lime products
used worldwide in environmental, industrial, agricultural and
specialty applications. For more information, visit
www.martinmarietta.com or www.magnesiaspecialties.com.
Investor Contact: Jacklyn
RookerDirector, Investor Relations (919)
510-4736Jacklyn.Rooker@martinmarietta.comMLM-G
This release contains statements which
constitute forward-looking statements within the meaning of federal
securities law. Statements and assumptions on future revenues,
income and cash flows, performance, economic trends, the outcome of
litigation, regulatory compliance and environmental remediation
cost estimates are examples of forward-looking statements. Numerous
factors could affect the Company’s forward-looking statements and
actual performance.
Investors are cautioned that all forward-looking
statements involve risks and uncertainties and are based on
assumptions that the Company believes in good faith are reasonable
at the time the statements are made, but which may be materially
different from actual results. Investors can identify these
statements by the fact that they do not relate only to historic or
current facts. The words “may”, “will”, “could”, “should”,
“anticipate”, “believe”, “estimate”, “expect”, “forecast”,
“intend”, “outlook”, “plan”, “project”, “scheduled” and other words
of similar meaning in connection with future events or future
operating or financial performance are intended to identify
forward-looking statements. Any or all of Martin Marietta’s
forward-looking statements in this release and in other
publications may turn out to be wrong.
You should consider these forward-looking
statements in light of risk factors discussed in Martin Marietta’s
Annual Report on Form 10-K for the year ended December 31, 2023,
and other periodic filings made with the SEC. All of the Company’s
forward-looking statements should be considered in light of these
factors. In addition, other risks and uncertainties not presently
known to the Company or that it considers immaterial could affect
the accuracy of its forward-looking statements, or adversely affect
or be material to the Company. Except as required by law, the
Company undertakes no obligation to update any forward-looking
statements in order to reflect any event or circumstance that may
arise after the date of this release.
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