Monday - August 19, 2019
Martin Marietta's 2nd quarter profit falls
Written by David Horn   
Tuesday, 02 August 2011 10:39

(RALEIGH) -- Martin Marietta Materials, Inc. reported second quarter net earnings of $35.8 million. This compared to net earning of $54.4 million during the same period last year.

The profit decline comes as the Raleigh-based aggregate materials company reported net sales of $426.7 million, down from $442.8 million during the second quarter of the prior year.

“Despite a continuing difficult operating environment, I am pleased by our Company’s performance," said Ward Nye, President and CEO of Martin Marietta Materials. "That we were able to increase prices and control costs is a credit to our operating teams and our disciplined approach to managing our business."

The quarter was impacted erratic weather as well as reduced spending on infrastructure projects. "Therefore, as has been the case in the recent past, volumes were significantly lower, and that had an attendant negative effect on our operating profits," added Nye.

 
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