Martin Marietta Materials, Inc. · MLM · FY2025 Q2 · Calendar Q3 2025
Martin Marietta raises outlook as aggregates strategy accelerates
The supplied analysis supports the view that Martin Marietta's earnings trajectory is being helped by resilient infrastructure-led demand, pricing, and an aggregates-focused portfolio shift. The thesis is constructive but depends on transaction execution, sustained pricing, and limited weather and residential disruption.
Earnings scorecard
Reported versus consensusMarket reaction
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What changed
Compared with the prior-quarter analysis, management raised its full-year outlook, increased the capex plan, and provided more detail on the Quikrete asset exchange and Premier Magnesia acquisition. The portfolio is moving more decisively toward aggregates, while infrastructure, data-center, and energy demand remain the principal growth supports.
Guidance delta
Raised full-year adjusted EBITDA guidance; the analysis also indicates higher current-year capex with normalization expected in 2026.
Key takeaways
- Management reported strong quarterly performance and raised its full-year adjusted EBITDA outlook.
- The Quikrete asset exchange advances a shift toward an aggregates-led portfolio.
- Premier Magnesia delivered record revenue and margin, with further synergy potential identified.
- Infrastructure, data-center, and energy projects support non-residential demand, while residential construction remains subdued.
Management priorities
- Complete the Quikrete asset exchange and integrate Premier Magnesia.
- Pursue additional bolt-on acquisitions and adjacent land purchases.
- Invest in reserves and capacity while maintaining disciplined capital allocation.
- Use the upcoming Capital Markets Day to outline the SOAR 2030 strategy.
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Analyst 52W Price Targets
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Oct 7, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Overweight | Overweight | Maintain | Oct 5, 2026 |
| Truist Securities | Buy | Buy | Maintain | Oct 5, 2026 |
| Citigroup | Buy | Buy | Maintain | Oct 2, 2026 |
| JP Morgan | Overweight | Neutral | Upgrade | Sep 2, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Aug 28, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Aug 13, 2026 |
| UBS | Buy | Buy | Maintain | Aug 3, 2026 |
| Stephens & Co. | Overweight | Overweight | Maintain | Jul 31, 2026 |
| Raymond James | Outperform | Outperform | Maintain | Jul 15, 2026 |
| B. Riley Securities | Buy | Neutral | Upgrade | Apr 2, 2026 |
| Barclays | Overweight | Overweight | Maintain | Mar 31, 2026 |
| Jefferies | Buy | Buy | Maintain | Feb 12, 2026 |
| Loop Capital | Hold | Buy | Downgrade | Jan 28, 2026 |
| DA Davidson | Neutral | Buy | Downgrade | Jan 14, 2026 |
| Stifel | Buy | Buy | Maintain | Nov 11, 2025 |
| B of A Securities | Neutral | Neutral | Maintain | Aug 5, 2025 |
| Goldman Sachs | Buy | Buy | Maintain | Apr 16, 2024 |
| Seaport Global | Buy | Buy | Maintain | Mar 12, 2024 |
| Wolfe Research | Peer Perform | Outperform | Downgrade | Mar 8, 2024 |
| HSBC | Hold | Reduce | Upgrade | Feb 22, 2024 |
| Atlantic Equities | Neutral | Overweight | Downgrade | Jan 24, 2023 |
| BMO Capital | Market Perform | Outperform | Downgrade | Nov 10, 2022 |
| Exane BNP Paribas | Outperform | Neutral | Upgrade | Sep 20, 2022 |
| Deutsche Bank | Buy | Hold | Upgrade | Oct 8, 2020 |
| ScotiaBank | Sector Perform | Sector Perform | Maintain | Sep 22, 2020 |
| CFRA | Buy | Buy | Maintain | May 6, 2020 |
| Nomura | Buy | Buy | Maintain | Apr 17, 2020 |
| Stephens& Co. | Equal Weight | Overweight | Downgrade | Feb 23, 2020 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Oct 30, 2019 |
| Stifel Nicolaus | Buy | Buy | Maintain | Oct 30, 2019 |
| Bank of America | Neutral | Underperform | Upgrade | Oct 15, 2019 |
| Longbow Research | Buy | Buy | Maintain | Jul 31, 2019 |
| Berenberg | Hold | Hold | Maintain | Apr 3, 2019 |
| Cleveland Research | Buy | Neutral | Upgrade | Mar 31, 2017 |
| BB&T Capital | Buy | Hold | Upgrade | Jul 17, 2015 |
| Susquehanna | Positive | Neutral | Upgrade | May 13, 2015 |
| Sterne Agee | Buy | Buy | Maintain | Oct 8, 2012 |
| KeyBanc | Hold | Buy | Downgrade | Sep 25, 2012 |
Named analyst price targets
Upside is calculated against the persisted previous close $489.01. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Truist Financial | Analyst unavailable | $625 | $482.49 | +27.8% | Oct 5, 2026 |
| Wells Fargo | Analyst unavailable | $579 | $482.49 | +18.4% | Oct 5, 2026 |
| Wells Fargo | Analyst unavailable | $585 | $490.64 | +19.6% | Sep 21, 2026 |
| Wells Fargo | Timna Tanners | $609 | $511.98 | +24.5% | Sep 9, 2026 |
| RBC Capital | Analyst unavailable | $620 | $528.32 | +26.8% | Aug 28, 2026 |
| D.A. Davidson | Analyst unavailable | $625 | $533.11 | +27.8% | Aug 24, 2026 |
| Morgan Stanley | Analyst unavailable | $639 | $543.9 | +30.7% | Aug 13, 2026 |
| Wolfe Research | Analyst unavailable | $648 | $543.74 | +32.5% | Aug 4, 2026 |
| RBC Capital | Analyst unavailable | $610 | $537.46 | +24.7% | Aug 3, 2026 |
| UBS | Analyst unavailable | $715 | $525.14 | +46.2% | Aug 3, 2026 |
| Raymond James | Analyst unavailable | $660 | $534.08 | +35.0% | Jul 31, 2026 |
| Stephens | Analyst unavailable | $680 | $540 | +39.1% | Jul 31, 2026 |
| Raymond James | Analyst unavailable | $675 | $573.75 | +38.0% | Jul 15, 2026 |
| Wells Fargo | Timna Tanners | $616 | $594.17 | +26.0% | Jul 8, 2026 |
| Berenberg Bank | Analyst unavailable | $556 | $570.96 | +13.7% | Jun 2, 2026 |
| UBS | Analyst unavailable | $739 | $590.38 | +51.1% | May 10, 2026 |
| Truist Financial | Analyst unavailable | $730 | $606.92 | +49.3% | May 4, 2026 |
| RBC Capital | Anthony Codling | $615 | $607.34 | +25.8% | May 4, 2026 |
| Raymond James | Analyst unavailable | $690 | $615.66 | +41.1% | Apr 27, 2026 |
| Wells Fargo | Analyst unavailable | $608 | $630.8 | +24.3% | Apr 15, 2026 |
| Morgan Stanley | Analyst unavailable | $702 | $612.52 | +43.6% | Mar 9, 2026 |
| Jefferies | Philip Ng | $785 | $678.46 | +60.5% | Feb 26, 2026 |
| RBC Capital | Anthony Codling | $630 | $678.46 | +28.8% | Feb 26, 2026 |
| Morgan Stanley | Angel Castillo | $706 | $654 | +44.4% | Feb 17, 2026 |
| RBC Capital | Analyst unavailable | $575 | $679.83 | +17.6% | Feb 13, 2026 |
| Stephens | Analyst unavailable | $735 | $673.25 | +50.3% | Feb 13, 2026 |
| Truist Financial | Keith Hughes | $710 | $662.94 | +45.2% | Feb 12, 2026 |
| D.A. Davidson | Analyst unavailable | $680 | $655.84 | +39.1% | Feb 12, 2026 |
| Wells Fargo | Analyst unavailable | $631 | $650.23 | +29.0% | Jan 29, 2026 |
| Loop Capital Markets | Analyst unavailable | $690 | $649.25 | +41.1% | Jan 28, 2026 |
| Morgan Stanley | Analyst unavailable | $690 | $633.37 | +41.1% | Dec 22, 2025 |
| Jefferies | Philip Ng | $730 | $628.44 | +49.3% | Dec 15, 2025 |
| Morgan Stanley | Analyst unavailable | $660 | $622.55 | +35.0% | Dec 1, 2025 |
| UBS | Steven Fisher | $723 | $606.07 | +47.8% | Nov 7, 2025 |
| D.A. Davidson | Analyst unavailable | $690 | $602.07 | +41.1% | Nov 6, 2025 |
| Barclays | Adam Seiden | $675 | $625.4 | +38.0% | Oct 20, 2025 |
| Wells Fargo | Timna Tanners | $620 | $629.61 | +26.8% | Oct 7, 2025 |
| Stephens | Analyst unavailable | $700 | $602.32 | +43.1% | Aug 4, 2025 |
| UBS | Steven Fisher | $491 | $484.97 | +0.4% | Apr 7, 2025 |
| Loop Capital Markets | Garik Shmois | $680 | $604.85 | +39.1% | Oct 31, 2024 |
| Loop Capital Markets | Garik Shmois | $600 | $537.78 | +22.7% | Oct 1, 2024 |
| Loop Capital Markets | Garik Shmois | $615 | $525.11 | +25.8% | Aug 13, 2024 |
| Citigroup | Anthony Pettinari | $646 | $533.55 | +32.1% | Aug 12, 2024 |
| Stephens | Trey Grooms | $610 | $538.98 | +24.7% | Aug 9, 2024 |
| Bank of America Securities | Timna Tanners | $575 | $538.98 | +17.6% | Aug 9, 2024 |
| Jefferies | Philip Ng | $665 | $577.46 | +36.0% | Jul 17, 2024 |
| D.A. Davidson | Brent Thielman | $675 | $583.1 | +38.0% | May 20, 2024 |
| HSBC | Wesley Brooks | $543 | $536.3 | +11.0% | Feb 22, 2024 |
| Seaport Global | Rohit Seth | $520 | $414.72 | +6.3% | Oct 24, 2023 |
| Morgan Stanley | Analyst unavailable | $399 | $368.73 | -18.4% | Dec 14, 2022 |
| J.P. Morgan | Analyst unavailable | $395 | $352.5 | -19.2% | Dec 8, 2022 |
| Raymond James | Patrick Tyler Brown | $380 | $337.16 | -22.3% | Nov 6, 2022 |
| J.P. Morgan | Analyst unavailable | $410 | $329.27 | -16.2% | Sep 22, 2022 |
| Raymond James | Patrick Tyler | $410 | $367.55 | -16.2% | Aug 18, 2022 |
| Morgan Stanley | Analyst unavailable | $420 | $352.5 | -14.1% | Aug 1, 2022 |
| Morgan Stanley | Analyst unavailable | $394 | $314.72 | -19.4% | Jul 18, 2022 |
| Wolfe Research | Analyst unavailable | $384 | $309.69 | -21.5% | Jul 14, 2022 |
| D.A. Davidson | Brent Thielman | $375 | $299.24 | -23.3% | Jul 1, 2022 |
| Morgan Stanley | Analyst unavailable | $443 | $343.08 | -9.4% | May 6, 2022 |
| Stephens | Analyst unavailable | $455 | $359.89 | -7.0% | May 5, 2022 |
| Berenberg Bank | Daniel Wang | $389 | $378.28 | -20.5% | Sep 2, 2021 |
| J.P. Morgan | Adrian Huerta | $385 | $365.89 | -21.3% | May 26, 2021 |
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Start freeCompany context
Snapshot as of publicationMartin Marietta Materials, Inc. functions as a company specializing in natural resource-derived building materials. This enterprise delivers a wide range of aggregates and other heavy construction components to the building industry, serving both domestic and international markets. Its product portfolio includes foundational raw materials like crushed stone, sand, and gravel, in addition to manufactured items such as ready-mix concrete, asphalt, and comprehensive paving solutions.…
Historical context
All MLM earningsBasic Materials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| RPM RPM International Inc. | FY2027 Q1 · Calendar Q4 2026 | +1.5% | +3.2% | RPM posts record quarter, but input costs narrow the outlook |
| HMY Harmony Gold Mining Company Limited | FY2026 Q4 · Calendar Q3 2026 | 0.0% | -6.2% | Harmony Gold posts record FY2026 while Eva Copper risks remain |
Latest beats and misses
Who reports nextBeat on EPS
- LWFY2027 Q1 · October 6, 2026+27.8% EPS+7.5% move
- RPMFY2027 Q1 · October 6, 2026+1.5% EPS+3.2% move
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-07T10:00:45.016414+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-07T10:00:45.014102+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-07. For educational purposes only; not investment advice.