financetom
Business
financetom
/
Business
/
Martin Marietta posts higher profit on strong demand for building materials
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Martin Marietta posts higher profit on strong demand for building materials
May 25, 2025 10:00 PM

(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.

(Reporting by Aishwarya Jain in Bengaluru; Editing by Anil D'Silva)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Jabil's Fiscal Q1 Core Earnings, Net Revenue Fall; Offers Fiscal Q2 and Full Year Outlook
Jabil's Fiscal Q1 Core Earnings, Net Revenue Fall; Offers Fiscal Q2 and Full Year Outlook
Dec 18, 2024
08:11 AM EST, 12/18/2024 (MT Newswires) -- Jabil ( JBL ) reported fiscal Q1 core earnings Wednesday of $2.00 per diluted share, down from $2.60 a year earlier. No comparable non-GAAP estimates were available. Net revenue for the quarter ended Nov. 30 was $6.99 billion, down from $8.39 billion a year earlier. Analysts surveyed by FactSet expected $6.61 billion. Jabil...
Sotera Health Urged by Firstlight Management to Sell Nelson Labs
Sotera Health Urged by Firstlight Management to Sell Nelson Labs
Dec 18, 2024
08:07 AM EST, 12/18/2024 (MT Newswires) -- Sotera Health's ( SHC ) board was urged by shareholder Firstlight Management to sell the company's Nelson Labs subsidiary, according to Firstlight's letter released Wednesday. In its Dec. 3 letter to Sotera's board, Firstlight said Sotera has an opportunity to create an enormous amount of shareholder value by beginning a sale of the...
Sam Altman-backed Oklo signs power agreement with data center operator
Sam Altman-backed Oklo signs power agreement with data center operator
Dec 18, 2024
Dec 18 (Reuters) - Sam Altman-backed nuclear startup Oklo Inc ( OKLO ) said on Wednesday it has signed a non-binding agreement to provide power to Las Vegas-based data center operator Switch. Under the agreement, Oklo ( OKLO ) will develop nuclear reactors, called the Aurora powerhouse, with a total capacity of 12 gigawatts through 2044. Each Aurora Powerhouse reactor...
Perion Network Partners With Experian to Improve Digital Advertising Tools
Perion Network Partners With Experian to Improve Digital Advertising Tools
Dec 18, 2024
08:10 AM EST, 12/18/2024 (MT Newswires) -- Perion Network ( PERI ) said Wednesday it is integrating Experian's identity graph into its own platform in an effort to increase its capabilities. This collaboration is meant to improve Perion's digital advertising tools across multiple devices. Perion Chief Executive Tal Jacobson says the integration will help clients optimize their campaigns, creating more...
Copyright 2023-2026 - www.financetom.com All Rights Reserved