MLM · 10-Q · 2026Q3 · Full report

Balance Sheet and Liquidity

MARTIN MARIETTA MATERIALS INC · 2026-11-04 · Importance 64 · Surprise 42 · No source text

To finance the LNA acquisition, the Company issued $5.5 billion of senior unsecured notes and borrowed $1.5 billion under a three-year senior unsecured term loan; the full $1.5 billion term loan was outstanding at September 30, 2026 and matures August 19, 2029. The Company also had $170 million outstanding on its $1.5 billion revolving facility and $420 million outstanding on its trade receivable facility. At September 30, 2026, unrestricted cash was $140 million and unused borrowing capacity under the revolving and trade receivable facilities was $1.4 billion, subject to the leverage covenant. The Company was compliant with its leverage ratio covenant; Fitch and S&P rated its debt BBB+ with negative outlooks, while Moody’s rated it Baa2 with a stable outlook.

Key facts

• On September 15, 2026, Martin Marietta reduced its Trade Receivable Facility limit from $600 million to $500 million and extended maturity to September 15, 2027; subject to conditions, the facility may be increased up to $700 million. source
• Martin Marietta entered into a $1.5 billion three-year senior unsecured term loan facility and issued $5.5 billion of senior unsecured notes in 2026 to fund the cash consideration for the LNA Transaction. source
• On August 14, 2026, Martin Marietta issued $5.5 billion of senior notes and used the net proceeds, together with term-loan borrowings, to pay LNA acquisition cash consideration. source
• At September 30, 2026, $1.5 billion was outstanding under Martin Marietta’s three-year term facility, maturing August 19, 2029. source
• Martin Marietta’s $1.5 billion five-year revolving facility matures August 18, 2031; $170 million was outstanding at September 30, 2026. source
• At September 30, 2026, $420 million was outstanding under Martin Marietta’s Trade Receivable Facility. source
• At September 30, 2026, Martin Marietta had $140 million of unrestricted cash and cash equivalents and $1.4 billion of unused borrowing capacity under its Revolving and Trade Receivable facilities, subject to the leverage covenant. source
• Martin Marietta expects available cash, projected internal cash flows and financing resources to remain sufficient for operating needs, debt service, capital expenditures, discretionary investments, certain acquisition opportunities, foreseeable-future dividends and share repurchases. source

Impact estimates