History

:: Home : Corporate : History

2012
Continued focus on employee safety performance Earnings per diluted share of $1.83, inclusive of $0.46 per diluted share impact of business development costs Passage of the Moving Ahead for Progress in the 21st Century Act, or MAP-21, a two-year federal highway bill providing approximately $40 billion per year through September30, 2014 Incremental funding dollars with the Transportation Infrastructure Finance and Innovation Act (TIFA) range from $30 billion to $50 billion over the next 3-4 years Heritage aggregates product line volume growth of 2.9% and pricing increase of 2.5% Contribution of $237.6 million in net sales and $8.1 million in gross profit from Denver, Colorado, operations acquired in December 2011 Record financial results by the Specialty Products segment, which provided earnings from operations of $68.5 million Capital investment included the completion of construction of a new dolomitic lime kiln at the Specialty Products’ Woodville, Ohio facility, providing annual net sales ranging from $22 million to $25 million Effective management of controllable costs, as evidenced by a 70-basis-point reduction of selling, general and administrative expenses as a percentage of net sales
2011
Improved employee safety performance as measured by the Corporation’s total injury incidence and lost time injury rates Earnings per diluted share of $1.78, inclusive of $0.25 per diluted share impact of business development costs Heritage aggregates product line pricing increase of 2.7% and volume decrease of 3.5% Record net sales and operating earnings by the Specialty Products segment Effective management of controllable costs as evidenced by selling, general and administrative expenses decreasing $6.3 million, or 60 basis points Cash dividends of $73.6 million, representing $1.60 per common share Acquisition of three aggregates-related businesses: (i) aggregates, asphalt and ready mixed concrete operations in western San Antonio, Texas; (ii) aggregates sites, as well as vertically-integrated ready mixed concrete and asphalt plants and a road paving business, in and around Denver, Colorado, resulting from an asset exchange with Lafarge North America Inc. (“Lafarge”) and (iii) a ready mixed concrete company in Denver, Colorado Successful integration of the San Antonio acquisition Strategic divestiture of certain operations along the Mississippi River (“River District operations”) to facilitate the asset exchange with Lafarge while maintaining balance sheet strength and financial flexibility Capital expenditures included a new aggregates sales yard near Tampa, Florida and the initiation of construction of a new dolomitic lime kiln at the Specialty Products’ Woodville, Ohio facility
2010
Record employee safety performance, as measured by a 14% reduction in Total Case Incident Rate from prior year Net earnings of $97.0 million, or $2.10 per diluted share Increase in aggregates product line volumes for the first time in four years Heritage aggregates product line volume increase of 5.3% and pricing decrease of 3.4% Record gross profit and earnings from operations by the Specialty Products segment Effective management of controllable costs, as evidenced by a 70-basis-point decrease in selling, general and administrative expenses as a percentage of net sales Repayment of $217.6 million of Floating Rate Senior Notes through use of cash Successful integration of the acquisitions of an aggregates distribution facility in Port Canaveral, Florida and a sand and gravel business near Charlotte, North Carolina Only company in industry selected to the InformationWeek 500 for ninth year in a row
2009
Net earnings of $85.5 million, or $1.91 per diluted share Heritage aggregates product line pricing increase of 1.9%, despite a volume decrease of 23.0% 15th consecutive quarter of declining aggregates volumes, with a 40% decline from the peak volume in 2006 Record financial results by the Specialty Products segment, which provided earnings from operations of $35.7 million Effectively managed controllable costs as evidenced by a 17% decrease in cost of sales and an 8% decrease in selling, general and administrative expenses Improved financial flexibility by securing two new credit facilities providing $230 million of incremental liquidity; issuing 3.8 million shares of common stock providing net proceeds of $293.4 million; and reducing capital expenditures by $119 million Completed acquisition and successful integration of 3 quarries from CEMEX, Inc. Record employee safety performance as measured by total injury incidence and lost-time incidence rates Ranked #1 “World’s Most Admired Company for Building Materials Industry” by Fortune Magazine Only company in industry selected to the InformationWeek 500 for eighth year in a row
2008
Net earnings of $176.3 million, or $4.20 per diluted share 11th consecutive quarter of declining aggregates volume, with a 22% decline from the peak to year end 2008 Heritage aggregates product line pricing increased 6.7%; volume decreased 13.1% Completed 3 acquisitions, including 6 locations in Georgia and Tennessee in an asset exchange with Vulcan Materials Company Issued $300 million of 6.6% Senior Notes due in 2018 Refinanced $200 million of 5.875% Notes on December 31, 2008 via issuance of 2.56% floating rate debt Capital expenditures of $258.2 million focused on capacity expansion and efficiency improvement projects Record net sales of $167.2 million for Specialty Products segment Recognized among the Information Week 500 for a seventh consecutive year
2007
Record net earnings of $262.7 million, or $6.06 per diluted share Return, assuming reinvestment of dividends, of 28.8% on the Corporation's common stock price compared with return of 5.5% for the S&P 500 Index Return on shareholders' equity of 23.9% Returned $629 million to shareholders through $575 million of share repurchases and $54 million of dividends Implemented changes in our capital structure and adopted a new consolidated debt-to-consolidated EBITDA leverage target of 2.0X to 2.5X Issued $250 million of 6.25% Senior Notes due in 2037 and $225 million of Floating Rate Senior Notes due in 2010 Strong financial results by the Specialty Products business
2006
Record net earnings of $245.4 million, or $5.29 per diluted share Return on shareholders' equity of 20.2% Return of 35.4% on the Corporation's common stock price compared with return of 13.6% for the S&P 500 Index in 2006 Returned record $219 million to shareholders through $173 million of shares repurchases and $46 million of dividend payments Average selling price for the heritage aggregates product line increased 13.5%; heritage volume declined 2% Magnesia Specialties earnings from operations up 50% on a 16% increase in net sales Record operating cash flow of $338.2 million Invested $266 million in internal capital projects
2005
Record earnings of $4.08 per diluted share Strongest pricing environment in Corporation's history Continued improvement in Magnesia Specialties' operating margin Record operating cash flow of $317.8 million Returned $216 million to shareholders through share repurchases ($176 million) and dividends ($40 million)
2004
Record net earnings of $129.2 million. Record EBITDA of $364 million. Record safety performance. Selected aggregates operations are divested in Tennessee, Louisiana, Washington, Oklahoma, California, Alabama and Texas.
2003
Record free cash flow generated. First all-composite specialty trailer produced in Sparta, N.C.
2002
The Company completes six acquisitions, which expands business in North Carolina, Alabama, Texas and Florida. Selected aggregates operations are divested in Ohio, Iowa and Virginia. Expansion continues in the Composite Products business. This includes the announcement of the opening of a manufacturing facility in North Carolina where the Company will begin to assemble specialty composite truck trailers. The Company also acquires the rights to manufacture high strength composite sandwich panels for a variety of industries.
2001
Martin Marietta completes the purchase of Meridian Aggregates Company. Along with the 1998 purchase of Redland Stone, Meridian is a key component of the western expansion strategy and significantly enhances the Corporation's rail distribution network. Martin Marietta Magnesia Specialties' refractories business is sold to Minerals Technologies Inc. The Company brings on line its new, highly automated Bahama Rock facility at Freeport, Bahamas. This state-of-the-art aggregates plant and ship-loading facility serves customers from Maryland to Texas, as well as throughout the Caribbean. The Bahama Rock facility is the largest, new plant investment in the Company's history. Martin Marietta reaches $1.5 billion in sales. The first two phases of a new enterprise-wide computer information system is successfully implemented. This project replaces old systems with state-of-the-art technology that supports future growth and enables better access to information. A record 13 acquisitions are completed. As a result of the extensive distribution network established over the past several years, a record 23 percent of aggregates shipments were made via water or rail.
2000
The Corporation embarked on the largest capital investment program in its history. With increased emphasis on internal growth, major plant construction projects were initiated at the Freeport, Bahamas, quarry and locations near Hot Springs, Arkansas; Parkersburg, West Virginia; Raleigh, North Carolina and Dallas/Ft. Worth, Texas.
1999
10 acquisitions completed, which expanded business in Texas, Tennessee, Louisiana, Arkansas, West Virginia, Mississippi and Alabama.
1998
Highlighting its fifth year as a public company, Martin Marietta achieves over $1 billion in sales for the first time and establishes a strong coast-to-coast platform for continued growth. Martin Marietta purchases Redland Stone, expanding aggregates operations into Texas and positioning the Company as the leading aggregates and asphalt provider in Houston and San Antonio. Redland Stone provided an extensive rail network in Texas. Martin Marietta purchases an interest in Meridian Aggregates Company, a Colorado-based producer that serves 14 western states. 11 acquisitions completed by year-end.
1997
Martin Marietta Materials purchases American Aggregates Corporation, expanding its aggregates business in Indiana and becoming a leading producer in Ohio. Eight smaller contiguous acquisitions completed, providing the opportunity to achieve market and operational synergy, as well as enhance and expand presence in the aggregates marketplace. Several of these newly acquired quarries produce chemical-grade limestone for agricultural, industrial and utility needs. Martin Marietta installs its first composite bridge deck in Ohio.
1996
Lockheed Martin Corporation disposes of remaining interest in Martin Marietta Materials through a split-off transaction, making Martin Marietta Materials a separate and independent entity. Capitalizing on the consolidation trend in the industry, Martin Marietta completes several small strategic acquisitions in the Midwest. Martin Marietta pursues opportunities for composite material technology, which will potentially be used on a wide range of applications, including bridge decks and other structures, where corrosion resistance and weight-to-strength ratios are important.
1995
Martin Marietta Materials purchases the aggregates business of Dravo Corp., moving the Corporation into the number two position among aggregates producers in the U.S. The Dravo acquisition includes an extensive waterborne distribution network, allowing the Corporation to provide products to coastal markets along the Eastern Seaboard and Gulf of Mexico, as well as along the Mississippi River system. Five smaller acquisitions completed - including an operation on the Strait of Canso in Nova Scotia. That quarry complements the coastal distribution network provided by the Dravo acquisition by producing granite products. Martin Marietta Corporation merges with Lockheed Corporation to form Lockheed Martin Corporation.
1994
Martin Marietta completes initial public offering of 19 percent of common stock and is listed on the New York Stock Exchange, symbol: MLM. Martin Marietta Materials pursues growth strategy through the acquisition of quarries in South Carolina, Virginia and Georgia.
1993
Martin Marietta Materials is incorporated as part of the Martin Marietta Corporation.
1961
American-Marietta merges with the Glenn L. Martin Company to form the Martin Marietta Corporation, a leader in aerospace, cement, aggregates, electronics and chemicals.
1959
Superior Stone merges with the American-Marietta Corporation, a national producer of construction materials, paints, chemicals and other building products.
1939
Our roots date back to Superior Stone, an aggregates company founded in Raleigh, North Carolina.