Martin Marietta Materials reported a strong start to 2025, achieving several first-quarter records including consolidated gross profit, gross margin, Adjusted EBITDA, and Adjusted EBITDA margin. Building Materials revenues increased 8% to $1.3 billion, with gross profit rising 20% to a record $298 million.
The aggregates business delivered record first-quarter gross profit of $297 million, a 24% increase, and gross margin expanded 260 basis points to 30%. Aggregates gross profit per ton increased over 16% to a new first-quarter record. Shipments increased 6.6% to 39.0 million tons, despite challenging winter weather in January and February, with organic shipments showing double-digit growth in March.
The Magnesia Specialties business also achieved all-time quarterly records for revenues of $87 million and gross profit of $38 million, with a gross margin of 44%. This performance was driven by pricing improvement and continued cost discipline. Conversely, Cement and Ready Mixed Concrete revenues decreased 12% to $233 million, impacted by the February 2024 South Texas divestiture and reduced residential demand.
Cash provided by operating activities for the first three months of 2025 was $218 million, an increase from $172 million in the prior-year period. The company returned $499 million to shareholders through dividend payments and share repurchases during the quarter. Martin Marietta reaffirmed its full-year 2025 Adjusted EBITDA guidance at the midpoint of $2.25 billion, signaling confidence in its trajectory.
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