Martin Marietta Materials (MLM) Q2 FY2026 earnings: revenue $1.9 billion, up 21.0% on the year

Martin Marietta Materials Inc. (MLM) reported revenue of $1.9 billion for Q2 FY2026, the quarter ended 30 June 2026, up 21.0% on the same quarter a year earlier. Net income was $251 million, down 23.5% on the year, and diluted earnings per share $4.17. The figures are the company's own, from the 10-Q it filed with the SEC on 30 July 2026.

Revenue

$1.9 billion

+21.0% on the year · +43.0% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

19.1%

25.7% a year earlier

Q3 FY2024Q2 FY2026

Net income

$251 million

-23.5% on the year · -83.4% on the quarter

Q3 FY2024Q2 FY2026

Diluted EPS

$4.17

-23.2% on the year · -83.4% on the quarter

Q3 FY2024Q2 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 raised, 1 lowered, 1 new, 1 kept.

Revenue rose 21% to a record: Second-quarter revenues were $1,947 million, against $1,609 million. The company linked the aggregates increase to a full quarter of QUIKRETE operations, part of a quarter of NFM, and 2.3 percent organic shipment growth.
Adjusted EBITDA up 13%: Adjusted EBITDA from continuing operations was $638 million against $565 million. Management ties the increase to organic performance and acquisition contributions.
Aggregates shipments reached a record: Aggregates shipments reached 61.6 million tons, up 17.0 percent. The increase included a full quarter of QUIKRETE operations, part of a quarter of NFM, and organic growth.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	1,947	1,362	1,609	+43.0%	+21.0%
Cost of revenue	1,452	1,052	1,113	+38.0%	+30.5%
Gross profit	495	310	496	+59.7%	-0.2%
Gross margin	25.4%	22.8%	30.8%
Selling, general and administrative	116	133	104	-12.8%	+11.5%
Operating income	372	162	413	+129.6%	-9.9%
Operating margin	19.1%	11.9%	25.7%
Interest expense	59.0	56.0	57.0	+5.4%	+3.5%
Pre-tax income	320	117	365	+173.5%	-12.3%
Income tax	64.0	38.0	73.0	+68.4%	-12.3%
Effective tax rate	20.0%	32.5%	20.0%
Net income	251	1,513	328	-83.4%	-23.5%
Net margin	12.9%	111.1%	20.4%
Diluted EPS	$4.17	$25.06	$5.43	-83.4%	-23.2%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	112	227	387	-50.7%	-71.1%
Capital expenditure	128	186	179	-31.2%	-28.5%
Free cash flow	-16.0	41.0	208
Free cash flow margin	-0.8%	3.0%	12.9%
Cash from investing	-861	293	-190
Cash from financing	596	-314	-62.0
Depreciation and amortisation	204	167	167	+22.2%	+22.2%
Share-based compensation	10.0	31.0	6.0	-67.7%	+66.7%
Buybacks	0.0	200	0.0
Dividends paid	51.0	51.0	48.0	0.0%	+6.2%
Dividend per share	$0.83	$0.83	$0.79	0.0%	+5.1%
Diluted shares, weighted	60m	60m	60m	-0.3%	-0.3%
Shares outstanding at period end	60m	60m	60m	+0.0%	-0.4%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	11,546	11,295	9,363	+2.2%	+23.3%
Non-controlling interest	2.0	2.0	3.0	0.0%	-33.3%
Debt	5,951	5,294	5,416	+12.4%	+9.9%
Operating lease liabilities	324	329	331	-1.5%	-2.1%
Other liabilities	3,482	3,577	2,957	-2.7%	+17.8%
Total liabilities and equity	21,305	20,497	18,070	+3.9%	+17.9%
Fixed assets	13,101	12,642	10,127	+3.6%	+29.4%
Goodwill	3,959	3,828	3,777	+3.4%	+4.8%
Cash and equivalents	112	273	225	-59.0%	-50.2%
Receivables	1,020	780	904	+30.8%	+12.8%
Inventory	1,169	1,213	1,155	-3.6%	+1.2%
Other assets	1,944	1,761	1,882	+10.4%	+3.3%
Total assets	21,305	20,497	18,070	+3.9%	+17.9%

Questions

What was Martin Marietta Materials' revenue in Q2 FY2026?

Martin Marietta Materials (MLM) reported revenue of $1.9 billion for Q2 FY2026, the quarter ended 30 June 2026, up 21.0% on the same quarter a year earlier.

How much did Martin Marietta Materials earn in Q2 FY2026?

Net income for Q2 FY2026 was $251 million, down 23.5% on the year, and diluted earnings per share $4.17.

When did Martin Marietta Materials report Q2 FY2026 results?

Martin Marietta Materials filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 30 July 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023 †	Q2 FY2023 †	Q3 FY2023 †	Q4 FY2023 * †	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024	Q1 FY2025 †	Q2 FY2025 †	Q3 FY2025	Q4 FY2025	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	1,496	1,231	1,642	1,812	1,476	1,354	1,821	1,994	1,608	1,056	1,552	1,642	1,412	1,162	1,609	1,846	1,534	1,362	1,947	2,369
Cost of revenue	1,150	1,075	1,216	1,324	1,122	1,051	1,260	1,318	1,125	979	1,247	1,129	1,142	847	1,113	1,235	1,066	1,052	1,452	1,718
Gross profit	347	156	425	488	354	303	560	676	483	250	449	513	424	315	496	611	468	310	495	651
Gross margin	23%	13%	26%	27%	24%	22%	31%	34%	30%	24%	29%	31%	30%	27%	31%	33%	31%	23%	25%	27%
SG&A	103	97.1	104	94.9	101	104	112	108	119	118	117	101	107	125	104	110	104	133	116	133
Operating income	210	59.9	479	406	262	196	463	567	370	1,421	398	406	399	179	413	505	340	162	372	438
Operating margin	14%	5%	29%	22%	18%	14%	25%	28%	23%	135%	26%	25%	28%	15%	26%	27%	22%	12%	19%	18%
Interest expense	42.9	40.5	43.1	42.8	42.6	42.0	42.0	41.0	40.0	40.0	40.0	38.0	51.0	56.0	57.0	59.0	58.0	56.0	59.0	138
Pre-tax income	168	30.2	458	370	233	171	440	540	343	1,414	372	374	352	132	365	450	279	117	320	313
Tax rate	7%	19%	23%	21%	19%	21%	21%	20%	16%	26%	21%	21%	17%	21%	20%	20%	16%	32%	20%	18%
Net income	157	21.4	366	295	184	121	348	417	282	1,045	293	363	294	116	328	414	279	1,513	251	256
Net margin	10%	2%	22%	16%	12%	9%	19%	21%	18%	99%	19%	22%	21%	10%	20%	22%	18%	111%	13%	11%
Diluted EPS	$2.50	$0.34	$5.86	$4.73	$2.95	$1.95	$5.61	$6.72	$4.55	$16.87	$4.76	$5.91	$4.87	$1.90	$5.43	$6.85	$4.59	$25.06	$4.17	$3.94
Operating cash flow	357	170	116	274	430	161	358	454	556	172	1.0	600	686	218	387	551	629	227	112	557
Capital expenditure	102	140	80.9	88.4	173	174	120	171	186	200	139	283	233	233	179	190	205	186	128	131
Free cash flow	256	30.1	35.4	186	258	-12.9	238	283	370	-28.0	-138	317	453	-15.0	208	361	424	41.0	-16.0	426
Buybacks	n/a	50.0	0.0	100	0.0	75.0	75.0	0.0	0.0	150	300	0.0	0.0	450	0.0	0.0	0.0	200	0.0	0.0
Dividends paid	38.1	38.9	38.1	41.1	41.0	42.0	40.9	45.7	45.8	46.0	46.0	49.0	48.0	49.0	48.0	50.0	50.0	51.0	51.0	59.0
Shares outstanding	62m	62m	62m	62m	62m	62m	62m	62m	62m	62m	61m	61m	61m	60m	60m	60m	60m	60m	60m	71m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-K	10-K	10-Q	10-K	10-K	10-K	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 June 2026, filed 30 July 2026: the filing.