Martin Marietta Materials, Inc. supplies natural resource-based building materials, including aggregates, cement, ready-mixed concrete, asphalt, and paving services. Operating in the construction industry, the company runs about 390 quarries, mines, and distribution yards across the United States, Canada, and The Bahamas. Its business is structured into two main segments: the East Group and West Group, which provide aggregates and related products in distinct geographic regions. Additionally, Martin Marietta has a Magnesia Specialties segment that manufactures magnesia-based chemicals and dolomitic lime for industrial and agricultural applications.
Martin Marietta generates revenue primarily by selling aggregates to construction customers, with public infrastructure funding significantly influencing its sales. The company also earns from its cement and magnesia specialties products. Aggregates are mainly transported by truck, with some distribution through rail and waterborne networks. The company is active in acquisitions and divestitures to optimize its portfolio, such as acquiring Albert Frei & Sons, Inc. and several operations from Blue Water Industries LLC, while divesting its South Texas cement business.
The primary customers for Martin Marietta's aggregates are in the construction sector, particularly for public infrastructure projects. The company's operational performance is directly impacted by economic conditions, construction industry cycles, and weather patterns. It faces competition from both large multinational firms and smaller local producers. Martin Marietta's strategy includes maintaining inventories to meet demand and acquiring properties to extend quarry life, with a focus on operational efficiency and strategic acquisitions to strengthen its market position.