$MLM
MARTIN MARIETTA MATERIALS INC

2024 Q2 Form 10-Q Financial Statement

#000095017024050478 Filed on April 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $1.764B $1.251B
YoY Change -3.12% -7.61%
Cost Of Revenue $1.247B $979.0M
YoY Change -1.06% -6.88%
Gross Profit $517.0M $272.0M
YoY Change -7.74% -10.17%
Gross Profit Margin 29.31% 21.74%
Selling, General & Admin $117.0M $118.0M
YoY Change 4.84% 13.14%
% of Gross Profit 22.63% 43.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $142.0M $130.0M
YoY Change 9.65% 5.18%
% of Gross Profit 27.47% 47.79%
Operating Expenses $117.0M $162.0M
YoY Change 20.99% 55.32%
Operating Profit $398.0M $110.0M
YoY Change -14.17% -43.91%
Interest Expense $40.00M -$40.00M
YoY Change -194.79% -194.79%
% of Operating Profit 10.05% -36.36%
Other Income/Expense, Net $14.00M $33.00M
YoY Change -25.13% 104.97%
Pretax Income $372.0M $1.414B
YoY Change -15.42% 731.76%
Income Tax $78.00M $368.0M
% Of Pretax Income 20.97% 26.03%
Net Earnings $294.0M $1.045B
YoY Change -15.59% 760.79%
Net Earnings / Revenue 16.67% 83.53%
Basic Earnings Per Share $4.77 $16.92
Diluted Earnings Per Share $4.76 $16.85
COMMON SHARES
Basic Shares Outstanding 61.64M 61.82M
Diluted Shares Outstanding 61.60M 62.00M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $109.0M $2.648B
YoY Change -74.14% 1054.32%
Cash & Equivalents $109.0M $2.648B
Short-Term Investments
Other Short-Term Assets $96.00M $90.00M
YoY Change -88.53% 19.36%
Inventory $1.105B $1.077B
Prepaid Expenses
Receivables $909.0M $703.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.229B $4.518B
YoY Change -30.18% 60.63%
LONG-TERM ASSETS
Property, Plant & Equipment $8.610B $6.982B
YoY Change 28.56% 11.19%
Goodwill $3.842B $3.479B
YoY Change 5.27% -4.67%
Intangibles $29.00M
YoY Change
Long-Term Investments
YoY Change
Other Assets $561.0M $559.0M
YoY Change -35.77% 1.47%
Total Long-Term Assets $14.10B $11.72B
YoY Change 17.01% -2.95%
TOTAL ASSETS
Total Short-Term Assets $2.229B $4.518B
Total Long-Term Assets $14.10B $11.72B
Total Assets $16.33B $16.24B
YoY Change 7.13% 9.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $304.0M $266.0M
YoY Change -12.37% -12.1%
Accrued Expenses $360.0M $623.0M
YoY Change 44.0% 238.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $400.0M $400.0M
YoY Change -42.86% -42.82%
Total Short-Term Liabilities $1.196B $1.429B
YoY Change -17.08% 7.61%
LONG-TERM LIABILITIES
Long-Term Debt $3.947B $3.947B
YoY Change -9.12% -9.1%
Other Long-Term Liabilities $502.0M $1.122B
YoY Change -55.24% 46.88%
Total Long-Term Liabilities $4.449B $5.069B
YoY Change -18.59% -0.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.196B $1.429B
Total Long-Term Liabilities $4.449B $5.069B
Total Liabilities $7.493B $7.365B
YoY Change -4.24% -4.52%
SHAREHOLDERS EQUITY
Retained Earnings $5.356B $5.411B
YoY Change 35.41% 45.28%
Common Stock $3.530B $3.513B
YoY Change 0.82% 0.72%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.838B $8.875B
YoY Change
Total Liabilities & Shareholders Equity $16.33B $16.24B
YoY Change 7.13% 9.06%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $294.0M $1.045B
YoY Change -15.59% 760.79%
Depreciation, Depletion And Amortization $142.0M $130.0M
YoY Change 9.65% 5.18%
Cash From Operating Activities $1.000M $172.0M
YoY Change -99.72% 7.17%
INVESTING ACTIVITIES
Capital Expenditures $139.0M $200.0M
YoY Change 16.32% 15.01%
Acquisitions $488.0M
YoY Change
Other Investing Activities -$2.052B $1.625B
YoY Change -2850.67% 41566.67%
Cash From Investing Activities -$2.191B $1.425B
YoY Change 4779.73% -1035.04%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -351.0M -229.0M
YoY Change 189.84% 66.67%
NET CHANGE
Cash From Operating Activities 1.000M 172.0M
Cash From Investing Activities -2.191B 1.425B
Cash From Financing Activities -351.0M -229.0M
Net Change In Cash -2.541B 1.368B
YoY Change -1423.44% -1158.0%
FREE CASH FLOW
Cash From Operating Activities $1.000M $172.0M
Capital Expenditures $139.0M $200.0M
Free Cash Flow -$138.0M -$28.00M
YoY Change -157.86% 108.96%

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<p style="margin-left:3.333%;font-size:11pt;margin-top:12pt;font-family:Calibri;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:11pt;font-family:'Calibri',sans-serif;min-width:fit-content;">Reclassifications</span></p><p style="margin-left:3.333%;font-size:11pt;margin-top:6pt;font-family:Calibri;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:11pt;font-family:'Calibri',sans-serif;min-width:fit-content;">Certain reclassifications have been made in the Company's financial statements of the prior year to conform to the current-year presentation. The reclassifications had no impact on the Company’s previously reported results of operations, financial position or cash flows.</span></p>
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Performance obligations within paving service agreements are satisfied over time, primarily ranging from one day to two years. Customer payments for the paving operations are based on a contractual billing schedule and are typically paid-when-paid.
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