Page 158 - Martin Marietta - 2025 Proxy Statement

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

INTRODUCTORY OVERVIEW

Martin Marietta Materials, Inc. (the Company or Martin Marietta) isa natural resource-basedbuilding materials company, with
2024 revenuesof $6.5billionand 2024 netearnings fromcontinuing operations attributable to Martin Marietta of $2.0billion,
inclusive of a$976 millionafter-tax nonrecurring gain on thedivestiture of the Company's South Texas cement plantand related
readymixed concrete operations (the Divestiture).These results wereachieved inpart bysupplying aggregates (crushed stone,
sandand gravel)through itsnetwork of approximately 390 quarries, mines anddistributionyards in 28 states, Canadaand The
Bahamas. Martin Marietta also provides cement anddownstream products,namelyready mixedconcrete, asphalt andpaving
services, in certain markets wherethe Companyhas aleading aggregates position.Specifically,the Company has onecement
plantand twocement distribution facilitiesinTexas, ready mixedconcreteoperationsinArizona andTexas, and asphalt
operations in Arizona,California, Coloradoand Minnesota. Paving services areoffered in Californiaand Colorado.

The Company’sheavy-sidebuilding materials areused in infrastructure, nonresidential and residential construction projects.
Aggregates arealsoused inagricultural, utilityand environmentalapplicationsand as railroad ballast. The aggregates,cement,
ready mixedconcreteand asphaltand paving productlines are reportedcollectivelyasthe “Building Materials”business.

Page50 ♦ 2024 Annual Report