Page 187 - Martin Marietta - 2023 Proxy Statement
P. 187
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (Continued)
Cement is a key raw material in the production of ready mixed concrete. The Company may be unable to pass along increases
in the costs of cement and raw materials to customers in the form of price increases for the Company’s products. A hypothetical
10% change in cement costs in 2023 compared with 2022, assuming constant volumes, would change the ready mixed concrete
product line cost of sales by $26.2 million. While increases in cement pricing may negatively impact the profitability of the
ready mixed concrete operations, the cement business would benefit, although the positive impact may not reflect a direct
correlation to the impact to the ready mixed concrete business.
Annual Report ♦ Page 83
