The company operates two cement plants – Midlothian near Dallas and Hunter to the north of San Antonia – as well as three cement terminals around Houston.
“While Hurricanes Harvey and Irma unquestionably impacted our business […] weather-related events are short-term in nature and dislocations or delays are subsequently resolved,” said Ward Nye, Chairman, President, and CEO.
"We remain confident in Martin Marietta's long-term outlook, with the fundamental drivers for broad-based construction activity supporting a steady and extended, yet somewhat slower than anticipated, cyclical recovery across our geographic footprint.”
Despite the challenging weather condition, the cement product line saw prices rise 3.9% over the quarter, thanks to ongoing construction activity in the Dallas/Fort Worth area. Revenues for the cement product line are expected to be US$379 million for the year, the company added, slightly down on last year’s US$389 million.
