Martin Marietta 3Q report

Martin Marietta Materials, Inc. announced financial results for the third quarter and nine months ended September 30, 2005, reporting record net sales, net earnings and earnings per share. Heritage aggregates pricing up was 9%, volume up 4.5%, and the aggregates segment achieved an operating margin of 22.5%. Stephen P. Zelnak, Jr., Chairman and CEO of Martin Marietta Materials, said, “We had an outstanding third quarter that produced record results despite rising energy costs and the effects of Hurricanes Katrina and Rita. In our aggregates business, we experienced an increase in demand and strong pricing, which, coupled with good cost management and higher gains on assets sales, led to a 300-basis-point improvement in our aggregates segment’s operating margin. Shipments and pricing were generally strong across all markets, with infrastructure and commercial construction continuing to provide increasing demand. Rising diesel fuel prices negatively affected earnings by $0.11 per share when compared with the prior-year quarter. Your comment?