Martin Marietta (MLM +2.5%) reports that Q2 net profit rose 44% Y/Y to $59.5M, or $1.27 per share, from $41.3M, or $0.89 per share a year earlier. The increase comes as construction activity begins to recover from historically low levels.
Total revenues grew 19% Y/Y to $669.2M from $561.3M the same period a year ago. Similarly, net sales grew 19% Y/Y to $601.9M vs. $507.3M.
CEO Ward Nye also declared his optimism for future company advancement due to its purchase of Texas Industries earlier this month. "The acquisition provides a broader platform for growth," states Nye.