US: Martin Marietta’s total revenue remained stable at US$4.73bn in 2020. Its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 11% year-on-year to US$1.39bn from US$1.25bn in 2019. Cement shipments rose by 11.7% year-on-year to 1.1Mt in fourth-quarter of 2020 due to strong demand in Texas.
“As we move forward, we believe underlying demand fundamentals will reset, establishing 2021 as the year during which the nation regains its economic footing,” said Ward Nye, the chairman and chief executive officer (CEO) of Martin Marietta. He added, “We anticipate single-family housing growth, expanded infrastructure investment and notable heavy industrial projects of scale will support the company’s near-term shipment levels. We expect these demand drivers, combined with the ancillary construction necessary for housing community buildouts and the potential increased infrastructure investment from a comprehensive Federal surface transportation package, should provide for multi-year growth in product demand,”
