Latest news with #WardNye
Yahoo
07-08-2025
- Business
- Yahoo
Martin Marietta second-quarter profit rises on infrastructure demand
(Reuters) -Martin Marietta Materials posted a 12% rise in second-quarter profit on Thursday, aided by stronger pricing and infrastructure demand. Higher demand for data centers powering artificial intelligence has helped boost construction activity. Construction firms have also benefited from former U.S. President Joe Biden's Infrastructure Investment and Jobs Act, which outlined $1 trillion in investments. "Infrastructure activity remains robust, underpinned by sustained record levels of federal and state investment," Martin Marietta CEO Ward Nye said in a statement. The company's net earnings rose to $328 million, or $5.43 per share, in the quarter ended June 30, from $294 million, or $4.76 per share, a year ago. The U.S. construction materials supplier's quarterly revenue was up 3% at $1.81 billion. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
07-08-2025
- Business
- Yahoo
Martin Marietta second-quarter profit rises on infrastructure demand
(Reuters) -Martin Marietta Materials posted a 12% rise in second-quarter profit on Thursday, aided by stronger pricing and infrastructure demand. Higher demand for data centers powering artificial intelligence has helped boost construction activity. Construction firms have also benefited from former U.S. President Joe Biden's Infrastructure Investment and Jobs Act, which outlined $1 trillion in investments. "Infrastructure activity remains robust, underpinned by sustained record levels of federal and state investment," Martin Marietta CEO Ward Nye said in a statement. The company's net earnings rose to $328 million, or $5.43 per share, in the quarter ended June 30, from $294 million, or $4.76 per share, a year ago. The U.S. construction materials supplier's quarterly revenue was up 3% at $1.81 billion. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
07-08-2025
- Business
- Reuters
Martin Marietta second-quarter profit rises on infrastructure demand
Aug 7 (Reuters) - Martin Marietta Materials (MLM.N), opens new tab posted a 12% rise in second-quarter profit on Thursday, aided by stronger pricing and infrastructure demand. Higher demand for data centers powering artificial intelligence has helped boost construction activity. Construction firms have also benefited from former U.S. President Joe Biden's Infrastructure Investment and Jobs Act, which outlined $1 trillion in investments. "Infrastructure activity remains robust, underpinned by sustained record levels of federal and state investment," Martin Marietta CEO Ward Nye said in a statement. The company's net earnings rose to $328 million, or $5.43 per share, in the quarter ended June 30, from $294 million, or $4.76 per share, a year ago. The U.S. construction materials supplier's quarterly revenue was up 3% at $1.81 billion.
Yahoo
30-04-2025
- Business
- Yahoo
Martin Marietta posts higher profit on strong demand for building materials
(Reuters) -Martin Marietta on Wednesday posted higher profit per unit, as steady infrastructure spending and investments in data center projects drove demand for its building and construction materials. The company also maintained its 2025 revenue forecast range of $6.83 billion to $7.23 billion and said that it "does not assume any material tariff-related positive or negative impacts." "Infrastructure demand remains a continuing bright spot amidst an uncertain macroeconomic backdrop," CEO Ward Nye said. Construction activity is expected to grow in 2025 as work advances on projects such as roads, bridges and ports supported by the federal and state government, Nye added. The company, which makes concrete and asphalt, is expecting benefits from former U.S. President Joe Biden's Infrastructure Investment and Jobs Act (IIJA), which outlined $1 trillion in investments, to grow and peak in 2026. Growing demand for data centers that power artificial intelligence also bolstered its nonresidential construction business. It shipped 39 million tons of materials during the quarter, up 7% from last year, while the average selling price per ton was $23.77, also up 7% from $22.26 in the previous year. The Raleigh, North Carolina-based company reported an 8% jump in quarterly revenue to $1.35 billion, although it was roughly in line with analysts' estimates. Its per-ton profit also rose 16% to $7.60 per ton. Sign in to access your portfolio
Reuters
30-04-2025
- Business
- Reuters
Martin Marietta posts higher profit on strong demand for building materials
April 30 (Reuters) - Martin Marietta (MLM.N), opens new tab on Wednesday posted higher profit per unit, as steady infrastructure spending and investments in data center projects drove demand for its building and construction materials. The company also maintained its 2025 revenue forecast range of $6.83 billion to $7.23 billion and said that it "does not assume any material tariff-related positive or negative impacts." "Infrastructure demand remains a continuing bright spot amidst an uncertain macroeconomic backdrop," CEO Ward Nye said. Construction activity is expected to grow in 2025 as work advances on projects such as roads, bridges and ports supported by the federal and state government, Nye added. The company, which makes concrete and asphalt, is expecting benefits from former U.S. President Joe Biden's Infrastructure Investment and Jobs Act (IIJA), which outlined $1 trillion in investments, to grow and peak in 2026. Growing demand for data centers that power artificial intelligence also bolstered its nonresidential construction business. It shipped 39 million tons of materials during the quarter, up 7% from last year, while the average selling price per ton was $23.77, also up 7% from $22.26 in the previous year. The Raleigh, North Carolina-based company reported an 8% jump in quarterly revenue to $1.35 billion, although it was roughly in line with analysts' estimates. Its per-ton profit also rose 16% to $7.60 per ton.
