Martin Marietta posts higher profit on strong demand for building materials
(Reuters) -Martin Marietta on Wednesday posted higher profit per unit, as steady infrastructure spending and investments in data center projects drove demand for its building and construction materials.
The company also maintained its 2025 revenue forecast range of $6.83 billion to $7.23 billion and said that it "does not assume any material tariff-related positive or negative impacts."
"Infrastructure demand remains a continuing bright spot amidst an uncertain macroeconomic backdrop," CEO Ward Nye said.
Construction activity is expected to grow in 2025 as work advances on projects such as roads, bridges and ports supported by the federal and state government, Nye added.
The company, which makes concrete and asphalt, is expecting benefits from former U.S. President Joe Biden’s Infrastructure Investment and Jobs Act (IIJA), which outlined $1 trillion in investments, to grow and peak in 2026.
Growing demand for data centers that power artificial intelligence also bolstered its nonresidential construction business.
It shipped 39 million tons of materials during the quarter, up 7% from last year, while the average selling price per ton was $23.77, also up 7% from $22.26 in the previous year.
The Raleigh, North Carolina-based company reported an 8% jump in quarterly revenue to $1.35 billion, although it was roughly in line with analysts’ estimates.
Its per-ton profit also rose 16% to $7.60 per ton.
