--- title: "Martin Marietta Materials | 10-K: FY2025 Revenue Misses Estimate at USD 6.15 B" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/276374207.md" datetime: "2026-02-19T20:20:25.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/276374207.md) - [en](https://longbridge.com/en/news/276374207.md) - [zh-HK](https://longbridge.com/zh-HK/news/276374207.md) --- > 支持的语言: [English](https://longbridge.com/en/news/276374207.md) | [繁體中文](https://longbridge.com/zh-HK/news/276374207.md) # Martin Marietta Materials | 10-K: FY2025 Revenue Misses Estimate at USD 6.15 B Revenue: As of FY2025, the actual value is USD 6.15 B, missing the estimate of USD 6.526 B. EPS: As of FY2025, the actual value is USD 18.77. EBIT: As of FY2025, the actual value is USD 1.657 B. #### Segment Revenue - **Building Materials Business** - **East Group Revenue:** $3,194 million in 2025, $2,941 million in 2024, and $2,763 million in 2023. - Aggregates: $3,065 million in 2025, $2,787 million in 2024, and $2,593 million in 2023. - Other Building Materials: $156 million in 2025, $184 million in 2024, and $199 million in 2023. - **West Group Revenue:** $2,515 million in 2025, $2,401 million in 2024, and $2,773 million in 2023. - Aggregates: $1,939 million in 2025, $1,727 million in 2024, and $1,709 million in 2023. - Other Building Materials: $836 million in 2025, $894 million in 2024, and $1,280 million in 2023. - **Specialties Business Revenue** - Total Specialties Revenue: $441 million in 2025, $320 million in 2024, and $315 million in 2023. - 67% of Specialties’ 2025 revenues were attributable to magnesia-based products, 32% to lime, and 1% to stone sold as construction aggregates. - 33% of Specialties’ 2025 revenues were related to products used in the steel industry. #### Operational Metrics - **Gross Profit and Gross Margin (Continuing Operations)** - Consolidated Gross Profit: $1,889 million (31% margin) in 2025, $1,636 million (29% margin) in 2024, and $1,745 million (30% margin) in 2023. - Building Materials Business Gross Profit: $1,775 million (31% margin) in 2025, $1,568 million (29% margin) in 2024, and $1,645 million (30% margin) in 2023. - Aggregates: $1,677 million (34% margin) in 2025, $1,449 million (32% margin) in 2024, and $1,378 million (32% margin) in 2023. - Other Building Materials: $98 million (10% margin) in 2025, $119 million (11% margin) in 2024, and $267 million (18% margin) in 2023. - Specialties Business Gross Profit: $137 million (31% margin) in 2025, $107 million (33% margin) in 2024, and $97 million (31% margin) in 2023. - **Aggregates Shipments** - Total Aggregates Shipments: 198.5 million tons in 2025, a 3.8% increase from 2024. - Aggregates Shipments by End-Use (2025): - Infrastructure: 37% of total shipments, increased 5% year-over-year. - Nonresidential: 36% of total shipments, increased 6% year-over-year. - Residential: 22% of total shipments, declined 1% year-over-year. - ChemRock/Rail: 5% of total shipments. - Aggregates shipments decreased 3.8% to 191.1 million tons in 2024 compared with 198.8 million tons in 2023. - **Other Building Materials Performance** - Other Building Materials revenues decreased 8% to $992 million in 2025, and gross profit decreased 18% to $98 million. - **Specialties Business Performance** - Specialties revenues increased 38% and gross profit increased 29% in 2025 compared to 2024. - Specialties revenues increased 2% and gross profit increased 10% in 2024 compared to 2023. - **Operating Costs** - Consolidated Cost of Revenues: $4,261 million in 2025, $4,026 million in 2024, and $4,106 million in 2023. - Selling, General and Administrative Expenses (SG&A): $443 million (7.2% of revenues) in 2025, $429 million (7.6% of revenues) in 2024, and $425 million (7.3% of revenues) in 2023. - Acquisition, Divestiture and Integration Expenses: $15 million in 2025, $50 million in 2024, and $12 million in 2023. - Other Operating Income, Net: - $6 million in 2025, - $1,322 million in 2024, and - $25 million in 2023. - Interest Expense: $230 million in 2025, $169 million in 2024, and $165 million in 2023. - Other Nonoperating Income, Net: - $19 million in 2025, - $56 million in 2024, and - $58 million in 2023. - Income Tax Expense (Continuing Operations): $236 million in 2025, $550 million in 2024, and $234 million in 2023. - Effective income tax rates for continuing operations were 19.2% in 2025, 23.2% in 2024, and 19.1% in 2023. - **Profitability (Continuing Operations)** - Earnings from Operations: $1,437 million in 2025, $2,479 million in 2024, and $1,333 million in 2023. - Earnings from Continuing Operations: $990 million in 2025, $1,816 million in 2024, and $992 million in 2023. - Net Earnings Attributable to Martin Marietta Materials, Inc. (Continuing Operations): $990 million in 2025, $1,815 million in 2024, and $991 million in 2023. - **Adjusted EBITDA (Non-GAAP)** - Adjusted EBITDA from Continuing Operations: $2,065 million in 2025, $1,771 million in 2024, and $1,805 million in 2023. - Adjusted EBITDA from Discontinued Operations: $237 million in 2025, $295 million in 2024, and $314 million in 2023. - Consolidated Adjusted EBITDA: $2,302 million in 2025, $2,066 million in 2024, and $2,119 million in 2023. #### Cash Flow - **Operating Activities** - Cash Provided by Operating Activities (Continuing Operations): $1,598 million in 2025, $1,227 million in 2024, and $1,307 million in 2023. - Cash Provided by Operating Activities (Discontinued Operations): $187 million in 2025, $232 million in 2024, and $221 million in 2023. - Total Net Cash Provided by Operating Activities: $1,785 million in 2025, $1,459 million in 2024, and $1,528 million in 2023. - **Investing Activities** - Cash Used for Investing Activities (Continuing Operations): - $1,507 million in 2025, - $2,326 million in 2024, and $185 million in 2023. - Cash Used for Investing Activities (Discontinued Operations): - $81 million in 2025, - $118 million in 2024, and $274 million in 2023. - Total Net Cash Used for Investing Activities: - $1,588 million in 2025, - $2,444 million in 2024, and $459 million provided in 2023. - Additions to Property, Plant and Equipment: $807 million in 2025, $855 million in 2024, and $650 million in 2023. - Acquisitions, Net of Cash Acquired: - $685 million in 2025, - $3,642 million in 2024, and $0 in 2023. - Proceeds from Divestitures and Sales of Assets: $38 million in 2025, $2,160 million in 2024, and $427 million in 2023. - **Financing Activities** - Cash Used for Financing Activities (Continuing Operations): - $794 million in 2025, $379 million provided in 2024, and - $1,058 million in 2023. - Cash Used for Financing Activities (Discontinued Operations): - $6 million in 2025, - $6 million in 2024, and - $6 million in 2023. - Total Net Cash Used for Financing Activities: - $800 million in 2025, $373 million provided in 2024, and - $1,064 million in 2023. - Repayments of Debt: $735 million in 2025, $1,690 million in 2024, and $700 million in 2023. - Dividends Paid: $197 million in 2025, $189 million in 2024, and $174 million in 2023. - Repurchases of Common Stock: $450 million (0.9 million shares) in 2025, $450 million (0.8 million shares) in 2024, and $150 million (0.4 million shares) in 2023. #### Unique Metrics - Aggregates Reserves: The Company’s aggregates reserves average approximately 85 years at the 2025 annual production level. - Cement Clinker Production Utilization: The Midlothian, Texas cement facility operated at approximately 61% utilization for clinker production in 2025. - Specialties Business Utilization: The magnesia-based and dolomitic lime businesses operated on average at 73% utilization in 2025. - Diesel Fuel Cost: The average cost per gallon for continuing operations was $2.58 in 2025 and $2.80 in 2024. #### Outlook / Guidance Summary Martin Marietta Materials, Inc. anticipates future organic profit growth in its Specialties business from increased pricing, new product commercialization, entry into new markets, and optimized product mix. The company’s cement and Woodville operations expect to pass on increased operating costs or taxes related to greenhouse gas emission limitations to customers, while Manistee and Gabbs facilities may absorb extra costs. For 2026, the Company expects pension expense of approximately $19 million and plans $25 million in pension plan and SERP contributions, none of which are voluntary. ### 相关股票 - [Martin Marietta Materials (MLM.US)](https://longbridge.com/zh-CN/quote/MLM.US.md) ## 相关资讯与研究 - [Martin Marietta Completes Asset Exchange with Quikrete Holdings, Inc.](https://longbridge.com/zh-CN/news/276647590.md) - [Martin Marietta Q4 revenue misses estimates](https://longbridge.com/zh-CN/news/275600691.md) - [Holcim Gains Majority Ownership of Peruvian Building Materials Maker Cementos Pacasmayo](https://longbridge.com/zh-CN/news/281117298.md) - [Singapore only Asian city in global top 10 for building material reuse](https://longbridge.com/zh-CN/news/281728608.md) - [Heidelberg Materials North America completes acquisition of BURNCOâs Edmonton assets](https://longbridge.com/zh-CN/news/281405772.md)