C. Howard Nye
and earnings to a have Thank here. It's me welcome pleasure and first each your Suzanne, let to add Jim call. of you to both you, you my
in announced delivered As The solid and adapt to ability release, challenges. successfully demonstrate this results our operating morning's quarter summarized that be we can to safety momentum best in external by company's record expected Irma. private impact offset demand. and the both sector softer than softness To reflects was from by precipitation pricing continuing which construction hurricanes infrastructure including Harvey extent, the activity, and some
though, employees First of and families their grateful aftermath these our we disasters. the are foremost natural are safe in that and
affected steadier and thoughts caused slower, multi-quarter as in with a contractors August employment the to what and has up which These leading be many generally remain attractive faced operates, to with in work historically dislocations backlogs as and maintaining been they and begin Martin Marietta project people while reduced areas shortages, them and short-term pace to of all Our lives hurricanes record continue often XX markets robust labor their most and Furthermore, September communities. the profitable rebuild quarter. throughout stoppages work revenues to in our earnings reaches months. levels to accept
In exacerbating understaffed of departments project are several infrastructure addition, transportation also of states key our in delays.
certain achieved headwinds, earnings railcars. of leased share, our record prudent business volume aspects leadership, long-term company's we costs weather, we focused quarterly we excellence. million and safety the remain meaningfully cost can of Given the impact: per operational repair on Notwithstanding that the non-recurring third $XX impact excluding the price quarter's of discipline, for
railcar fully share. expense non-recurring $X.XX diluted For per clarity, that is
aggregates basis activity across XXX points. all season's from experienced our product highlighted less gross line hurricane points. margins. segments, Our margin and disruption XXX which third Notably, gross also pricing in lines improvements gross this results were increased by operational than improved Group, for margin the groups, pricing The other and and basis quarter quarter its Mid-America product expanded
group, our Mid-Atlantic noteworthy, dealt portions most this heavy season, the and division, experienced history's first and South majority of top is performance most safety importance XXXX of that's underscore our achieved North many of These attractive shipments both Carolina headwinds, nearing benefits the level. excellence months nation's are leading rate our as employees divisions focus record the markets. precipitation, declined line the with of at with particularly specifically nine of consolidated total XXXX world operational aggregates accomplishments, through their in However, on among A and that volume which already of X%. the injury position Carolina the And active. foundational face incident safety hurricane XX class. of the Also product and our in
energy product in materials which completed from Groups strong X% Southwest business, requiring as operations, X% pricing improved XXX pricing which the asphalt product higher points, increase. and Group, a and division, West line pricing projects of Cement fundamentals. Materials reminder were XX% ready-mixed Geographic reported to product led and Mid-America the a continues X% is quarter. XXXX. benefit by respectively. the basis Building part improved market underlying West Southeast of Our cement, nearly by and pricing growth paving line mix X%, reduced concrete price aggregates as several during The includes the for large Group's Aggregates aggregates, and
declined particularly shipments affected for declined aggregates, increased and business Texas, levels X.X declined cement considerably X%, of declined ready-mixed Daily shipments but Materials most our Our reductions shipment for the hurricanes resulted estimated its selling footprint, ready-mixed average years decreased Shipment asphalt wettest quarter in and our footprint, by experienced XX%, X%. weather, precipitation of product averaged Harvey Group's X% and impacted line Irma, of and district respectively. across cement XXX,XXX record were aggregate our geographic portion Houston prices in XX,XXX yards XX% days varied wide for August in XX%, coupled tons with and third by across of the West volumes in XX%. concrete. Near Building a fourth of shipments precipitation. concrete tons concrete overall, from cubic disruptions million asphalt and shipments shipments XX,XXX shipments aggregates tons which The aggregate negatively last XXX not ready-mixed
before XX,XXX-ton Hurricane again Hurricane Marietta's within reprieve shipments also Following Irma harmful, aggregate strong our fell week shut market That recent hurricane. Harvey, activity last to until five at September. return less the days. facilities Shipment and from substantial shipments. with impacts West respective these in only operations Southeast demand, were average the not daily business of the combined Group. two resume their operations the business Martin and down did area, day were the levels the Overall, allowed Group level cost from daily the the of efficiency rainfall August three-year ninth for September. third hurricane Florida the day a to quarterly The averages reaching underlying days in Georgia above quarter X% preventing more lasted affecting generated in of a or particularly our increase and profile, until
fuel months price teams diesel caused the quantify with constraints not the Other hurricane-related the six physical of equally costs were in the experienced damage, indicative Still, to spike supply hurricanes we less in operating are efforts per gallon following real, preparedness though million, easy $X plan. limited compared our increase of executing commendable costs companywide in the resulting prices, than our in a disaster repair fuel as specificity. during paid first XX% average and year. Fortunately, diesel of impacts an with when
to respond operating For teams example, production pressure hurricanes, efficiencies. levels leverage downward than planned lower were to on the we as putting redirected and
We distribution until also normal operations resume as bottlenecks, not experienced did western logistic our mid-September. to Houston yards railroads
view temporary. as dislocations we these and disruptions Importantly,
and activity. and We Act, particularly state into of for and the infrastructure Texas, have of our Georgia the Act, needed labor shortages, believe in and we the delays XXX-year additional XXXX's Tightened markets, activity. years understaffed, construction Matthew significant reconstruction Colorado provided FAST and construction key weather Many in progress experiencing as federal efforts policies, Surface XXXX, Similarly, sectors, public disaster-related exert state previous number result construction in by typically private customers Iowa, seen lack for departments with As of limiting in and funding other both steady on or XXXX. Carolinas, both labor of project are event natural growth flooding projects continue tax healthcare, new the the over downward transportation Transportation to the new start public Fixing building hinder Colorado, and in such projects of pressure infrastructure America's elements initiatives. Hurricane disasters, thereby funding, activity. local are dates pushed stemming and from reform and private specifically to in and call have many continues
the significant capital uncertainty parts undertake we fosters the As contractors federal or government historically, of on and states advance to have around seen construction inaction projects investment.
Specialties business third reflecting their unplanned earnings Magnesia of with of million, energy of $XX inventory our total by the a in from outages, gross Our to maintenance a reported timing X% coupled due operations. The several revenues to adjustment year, costs, chemical reiterate business' prior want today's kiln and compared downtime. the decrease release. to customers lower large higher profit commentary I with earnings led quarter and
recovery and outlook, construction confident for geographic fundamental steady We a long-term Martin slower-than-anticipated somewhat are our drivers across cyclical broad-based footprint. with supporting Marietta's in activity yet extended
modestly until grow initiatives pro-growth expect shipments emerge. We to aggregate
recent while likely growth confidence activity, below extended. be The for investment blocks the bit market in most address the the less somewhat our volumes, though five-year be see long-term company's third So, to building of the related XX% line This will We've outlook. the curve product meaningful a steep, construction of the the heavy comprised average may XX%. quarter underpins infrastructure cycle duration to significant company's aggregates exist. growth need of in infrastructure even yet
the departments provided infrastructure labor and and benefit FAST the state tangibly constraints by reform regulatory transportation should more address from activity contractors As Act. funding of emerges,
initiatives line aggregates preceding volumes quarter, construction of local warehouse strong increases by in which that in XX% particularly state other an interstate including and and the Southeast XX the funding over groups and reported role primarily continue public corridors activity. passed to industrial support play initiatives product and along will sector growth. driven the third office, Additionally, months gas retail valid projects, in expanded represented shipments infrastructure Mid-America tax Non-residential
XXXX, back of to concrete was aggregates, in as we half reminder, large Texas in quarter a replaced third in cement of the projects were several not ready-mixed and energy originally that anticipated. supplied sector XXXX As the
energy-related than of construction somewhat mixed. the additional with are looking private oil economic including price and here, to ahead, grow rather follow-on rebounding, But Looking retrench. again even public activity will companies energy be
heavy Overall, final the with impetus to non-residential expand accounted construction market, future energy-related aggregates product projects in new remained and commercial continues in line expect sectors. cautious, permitting activity. third providing quarter solid metropolitan of enter the construction top building infrastructure residential decisions our pace beyond. the of XXXX XXXX investment activity for both should in industrial in we non-residential several phase the Multi-family and been and expected The more which increase is While and for of to areas. modestly XX% shipments, has bid
states, Marietta the strategic is residential construction which prior-year priorities value lower value. construction rates; dedicated rates. unit employment; six capital Carolina in single-family development; continue Marietta's beginning South our Florida, Martin remaining low that greater returned and of We activity of return quarter Texas, in years; rank Martin to product acquisition the balanced and transaction. and States align repurchases. dividend of to markets, capital and and To core the acquisitions close company shareholders meaningful since discussion is business of line key first The remain the our and Bluegrass XXXX of first rental the for ongoing we've to are multi-family February of Georgia, remaining allocation with capital Department authorization. aggregates $X.X ChemRock/Rail million unchanged including program, organic shares in during of investment XXXX, volumes XX and declined include enhance the sustainable of our And in through key accounted a maintenance capital cash states is Additionally, billion growth several company's have the historically, enhancing plan, in the dividends we're housing Marietta nearly driven company's levels Colorado, previously of We Bluegrass annual Robust to cash dividend announcement share by in The permits. activity lot of we by is growth the Carolina, allocation Company Materials share over purchases our mobile end-use increased share fleet high single-family X% repurchases. to the continuing announced review will higher of particularly work the nine housing both million closely aggregates expected repair of and to markets more X%. $XXX cooperatively and driven Materials half costs. to and sales. see shareholder that in for disciplined our versus United and repurchase of The months deployed repurchase XXXX. shareholders top by reduce right Justice company's conclude previous its Martin levels intensive. low expected North XX.X and to the higher through mortgage Currently,
weather, government labor of and have certainly months in September debt defined as to construction-related in with third our leverage net Finally, agreement uncertainty year extraordinary project was the shipment consolidated expected times compliance the in trailing the In X.X throughout XX EBITDA impeded delays ratio for shortages, growth credit quarter. consolidated our summary, applicable covenant. ended XXXX and
this result, a of release revision our guidance morning's full-year the follows. As as reflected XXXX
XXXX, line Residential to the shipments X% pricing down expected And expected relatively volumes shipments to $XXX underlying to is million the to revenues On we volume compelling expected infrastructure to $XXX from in decrease to shipment consolidated expect ranging in mid-single-digits. $XXX We to million double-digits. increase to Despite fundamentals ranging increase gross total low the flat. expect from remain X% product in EBITDA expected range ChemRock/Rail billion X%. and $X.XX up aggregates growth materialize. expected expected product profit Aggregates to single-digits. million $X.XX X% high line Non-residential shipments to in to ranging the basis, failed shipments from from billion, to $XXX million. decrease a with
consistent the macroeconomic growth markets with three described, several XXXX we beyond over we years. next expect the all primary and picture Looking in end-use
most growth Mid-America and notably sees growth slower company's groups the with margins. which in West Southeast the of highest preliminary portions Our XXXX historically generated higher view comparatively the Group, in has
shipments focused conclude, potential benefit the a increase Materials Bluegrass that constraints aggregate serve uncertainty any are labor continues manage long-term infrastructure proud we're of safety on our XXXX, employees' any inhibit the short-term of the For remaining more growth pending results rate as increase sector acquisition construction overall of outlook federal while and from and preliminary our our enhanced ability impact of To This to mid-single-digits governmental excludes in both from and through growth. in spending. the expected disruptions to business. face to to and a
our Our on construction and capitalize leading most positions in Martin confidence many to of the recovery. nation's in ability attractive durable, multi-year otherwise vibrant the markets reinforce Marietta's
reform expected medium-term value. Our and to your well and long-term operational their the and several for and shareholder customers departments to If relentless private a industry-leading reported from our construction near by safety the the enhancing cost as of maintain labor questions. next positive remain years, supported the projects backlogs. achieving positioned will discipline now will sector strong turn and to provide committed demand address activity and required constraints. attention results benefit we infrastructure We're With regulatory emerges outlooks focus customers on over addressing excellence, instructions, diligent further standards, world-class we operator transportation
