Martin Marietta Materials, Inc.

Strong Q2 operating performance; raises full-year guidance - Record Q2 revenue and record adjusted EBITDA (from continuing ops). - Aggregates revenue: $1.5B (+16%); total shipments 61.6M tons (+17%) with organic shipments +2.3%; organic ASP (mix-adjusted) +3.7%, reported ASP -2% largely due to mix + acquisitions. - Safety: achieved the best first-half safety performance in company history (TIR and LTI rates). - Updated outlook (2026): revenue guidance raised to $7.2B–$7.4B and adjusted EBITDA from continuing ops reaffirmed/raised to $2.36B–$2.5B. Does not include LNA (pending transaction).

SOAR 2030 execution: quantified cash improvements + Precision IQ rollout - Identified ~$350M run-rate pretax cash flow improvement opportunities driven by asset utilization, network optimization, and lower sustaining capital. - Year-to-date cash benefits > $200M already achieved from disciplined inventory management and reduced capital spending. - Commercial/Execution: completed enterprise rollout of Precise IQ (mobile quoting + pricing algorithm) in June, designed to improve pricing precision and responsiveness and standardize go-to-market execution.

Key business drivers & what’s “good” operationally - Organic aggregates cost performance: organic COGS per ton +3.6% (includes ~150 bps headwind from higher pass-through external freight). Controllable cost growth was below implied ~3% guidance. - Management emphasized that energy spike is the main drag; excluding energy-related pressure, COGS would have been ~flat—a positive indicator for underlying cost discipline. - Specialties (lime): record Q2 revenues/gross profit, driven by pricing and acquisitions; highlighted Woodville, Ohio resilience through downturns and demonstrated compounding profitability (e.g., Q2 gross profit +7% YoY to a record).