Martin Marietta's $13.5B Lhoist deal clears path as Q2 hits records
Lhoist acquisition clears regulatory hurdle All regulatory approvals are now in for the $13.5 billion Lhoist North America deal, expected to close in Q3 2026. This removes a major uncertainty and should let the company become the top U.S. lime and limestone producer, boosting future earnings and margins.
This is a new, concrete step that de-risks the largest deal in company history and directly affects MLM's future earnings power.
Record Q2 results and raised guidance MLM reported record Q2 revenue of $1.95 billion (up 21%) and adjusted EPS of $5.00, beating estimates. It raised full-year revenue guidance to $7.2–$7.4 billion and reaffirmed EBITDA guidance, showing strong demand for aggregates and lime.
This is fresh evidence of the company's underlying business strength and supports the bull case for the stock.
Premium valuation and lowered earnings estimate Despite the earnings beat, MLM trades at 26.2 times forward earnings, above its industry average and five-year median. The consensus current-year earnings estimate has slipped 1.4% in four weeks, and Zacks rates the stock a Hold, suggesting limited upside from here.
This is the main counterweight: even with good news, the stock's high price and slightly falling profit forecasts could cap gains.