Martin Marietta Materials Inc | North America 2Q26 Beat and Reaffirmed FY26 Adj. EBITDA Guide

研报英文原文证据摘录

Martin Marietta Materials Inc | North America 2Q26 Beat and Reaffirmed FY26 Adj. EBITDA Guide

Update

July 30, 2026 12:14 PM GMT

Morgan Stanley & Co. LLCMMartin Marietta Materials Inc | North America Angel Castillo

Equity Analyst

2Q26 Beat and Reaffirmed Angel.Castillo@morganstanley.comEsther O Osinaiya +1 212 761-1931

Research Associate

Esther.Osinaiya@morganstanley.com +1 212 761-3176

FY26 Adj. EBITDA Guide Stefan Diaz, CFA

Stefan.Diaz@morganstanley.com +1 212 761-1834

AlphaSignals Earnings Reaction Oliver Jiang

Unchanged Modest upside Largely unchanged Oliver.Jiang@morganstanley.com +1 212 761-6458

Impact to our thesis Financial results versus consensus Direction of next 12-month

consensus EPS

Martin Marietta Materials Inc (MLM.N, MLM US)

Source: Company data, Morgan Stanley Research

Machinery & Construction | United States of America

Stock Rating Overweight

Key Takeaways Industry View Attractive

Price target $664.00

MLM reported 2Q26 Adjusted EBITDA of $638M vs MSe $613M and Cons $613M Shr price, close (Jul 29, 2026) $569.66

Mkt cap, curr (mm) $34,465

(BBG Estimate) 52-Week Range $710.48-526.09

Reaffirmed 2026 Adj. EBITDA (continuing ops) outlook at $2,430M (at the

midpoint) vs. MSe of $2,426M and Cons of $2,408M

Stock Reaction: We expect modestly positive stock reaction to the modest 2Q

beat and reaffirmed FY26 EBITDA guide

See below for notable takeaways from MLM's earnings release, and inside for a

more detailed variance table of results vs. expectations ( Exhibit 1 ), and

guidance summary table ( Exhibit 2 ).

• (+) Reported 2Q26 Adj. EBITDA (continuing operations) of $638M babove

MSe $613M / Cons $613M.

• (+) Raised its FY26 Revenue to $7.2B- $7.4B (prior $7.0-$7.3B) vs. MSe of

$7.0B and Cons $7.1B

• (=) Reaffirmed its FY26 Adj.