MARTIN MARIETTA MATERIALS INC

Martin Marietta Materials, Inc. announced significant strategic moves, including the acquisition of Lhoist North America (LNA) for $12.9 billion and an asset exchange with QUIKRETE Holdings, Inc. The LNA acquisition, comprising $7 billion in cash and 10.95 million shares, is expected to bolster the company's Specialties business and geographic reach. The QUIKRETE transaction involved acquiring aggregates and asphalt operations while divesting cement and concrete assets. Additionally, Martin Marietta acquired New Frontier Materials LLC, a smaller aggregates business. The company reported Q3 2026 revenues of $2.37 billion, an increase from $1.85 billion in Q3 2025, and nine-month revenues of $5.68 billion, up from $4.62 billion year-over-year.

Martin Marietta Materials reported record third-quarter revenues of $2.37 billion, a 28% increase year-over-year, driven by strong performance from recent acquisitions, including the significant combination with Lhoist North America (LNA) completed on August 21. Adjusted EBITDA from continuing operations rose 21% to $808 million. However, net earnings from continuing operations decreased 29% to $256 million, and diluted earnings per share fell 34% to $3.94, impacted by inflationary pressures and acquisition accounting. The company updated its full-year 2026 guidance, anticipating higher revenues and Adjusted EBITDA.

Martin Marietta Materials, Inc. announced that its Board of Directors approved an increase in its quarterly cash dividend. The dividend will rise from $0.83 per share to $0.84 per share, representing an annualized dividend of $3.36 per share. This marks the eleventh consecutive annual dividend increase, reflecting the company's commitment to shareholder returns and confidence in its business strength.

Martin Marietta Materials, Inc. announced the pricing of a $5.5 billion aggregate principal amount of Senior Notes across five tranches with maturities ranging from 2029 to 2056 and interest rates from 4.850% to 6.375%. The net proceeds from this offering, combined with borrowings from a $1.5 billion senior unsecured term loan facility, will be used to finance the previously announced acquisition of Lhoist North America, Inc. The offering is expected to close in the third quarter of 2026, with Goldman Sachs, J.P. Morgan, Deutsche Bank, and Truist Securities serving as underwriters.

Martin Marietta Materials, Inc. announced it has received all necessary regulatory approvals for its acquisition of Lhoist North America, Inc. The transaction, valued at approximately $13.5 billion, includes $7.0 billion in cash and 10,953,543 shares of Martin Marietta common stock. The acquisition is anticipated to close in the third quarter of 2026. The filing also included Lhoist's financial statements, reporting $1.75 billion in sales and $513.8 million in net income for 2025.

Martin Marietta Materials, Inc. announced it has received all necessary regulatory approvals for its previously announced acquisition of Lhoist North America, Inc. The transaction, valued at $13.5 billion in cash and stock, is now expected to close in the third quarter of 2026, subject to customary closing conditions. Lhoist North America operates a business producing and distributing lime, dolomitic lime, and aggregates in North America.

Martin Marietta Materials, Inc. announced it has received all necessary regulatory approvals for its previously announced combination with Lhoist North America, Inc. The transaction is now anticipated to close in the third quarter of 2026, subject to customary closing conditions. This strategic combination is expected to position Martin Marietta as the nation's leading producer of lime and limestone solutions.

Martin Marietta Materials, Inc. announced the promotion of Michael J. Petro to Executive Vice President, Chief Financial Officer, effective August 4, 2026. In connection with his promotion, Mr. Petro's new compensation package includes a base salary of $750,000, a target annual incentive of 100% of base salary, and a target long-term incentive of 260% of base salary. He also received a one-time grant of restricted stock units valued at $5,000,000, vesting over six, seven, and eight years. The employment agreement outlines severance benefits for various termination scenarios, including three times his base salary and target bonus for termination without cause or for good reason.

Martin Marietta reported record second-quarter revenues of $1.947 billion, a 21% increase, and Adjusted EBITDA from continuing operations grew 13% to $638 million. The company raised its full-year revenue guidance to $7.2 billion-$7.4 billion and reaffirmed its Adjusted EBITDA guidance. Strategically, Martin Marietta entered a definitive agreement to combine with Lhoist North America for approximately $13.5 billion and completed the acquisition of New Frontier Materials, further strengthening its portfolio and expanding its Specialties platform.

Martin Marietta Materials, Inc. has entered into a new $1.5 billion three-year senior unsecured term loan facility to finance its previously announced acquisition of Lhoist North America, Inc. Concurrently, the company amended its existing $800 million revolving credit facility. Both agreements include modified financial covenants, establishing a tiered maximum Leverage Ratio that adjusts over time following the acquisition's closing, starting at 4.75:1.00 for the initial three fiscal quarters.