As of June 30, 2020, 13.5 million shares remained underthe current repurchase authorization and 62.3 million shares ofMartin Marietta common stock were outstanding.Aggregates product gross margin expanded 230basis points to 35.5 percent, an all-time record, largely driven byimproved pricing, production efficiencies and lower diesel fuelcosts.Second-quarter results and trends described inthis earnings release may not be indicative of the Company’s futureperformance.Earnings before interest; income taxes;depreciation, depletion and amortization expense and the noncashearnings/loss from nonconsolidated equity affiliates (AdjustedEBITDA) is an indicator used by the Company and investors toevaluate the Company's operating performance from period to period.Adjusted EBITDA is not defined by generally accepted accountingprinciples and, as such, should not be construed as an alternativeto earnings from operations, net earnings or operating cash flow.For further information on Adjusted EBITDA, refer to the Company'swebsite at www.martinmarietta.com.Second-quarter aggregates shipments declined 3.7percent compared with the prior-year quarter, which benefited fromcarryover work due to the extraordinarily wet 2018. We are committed to providing an environment of mutual respect where equal employment opportunities are available to all qualified applicants and teammates. Management believesthese non-GAAP measures are commonly used financial measures forinvestors to evaluate the Company’s operating performance, and whenread in conjunction with the Company’s consolidated financialstatements, present a useful tool to evaluate the Company’s ongoingoperations, performance from period to period and anticipatedperformance. In addition, these are some of the factors the Companyuses in internal evaluations of the overall performance of itsbusinesses. Through a network of operations spanning 27 states, Canada and The Bahamas, dedicated Martin Marietta teams supply the resources necessary for building the solid foundations on which our communities thrive. Quarterly Results. Before joining Martin Marietta, Jim held finance, accounting, tax and M&A leadership roles for more than fifteen years.
We expect our full-year 2020 aggregates pricing toincrease 3 percent to 4 percent, slightly below our pre-COVID-19forecast, largely due to year-over-year geographic and product mixfluctuations.The Company has returned nearly $1.8 billion toshareholders in the form of dividend payments and share repurchasessince announcing a 20 million share repurchase authorization inFebruary 2015. Photos Of Concrete Tile Colors; About Us. Customer backlogs are expected to supportthe Company’s near-term shipment levels, though we currentlyanticipate an industry-wide decline in product demand over the nextfew quarters, particularly with the uncertainty of additional U.S.federal economic stimulus actions, as businesses and governmentsaddress budget shortfalls. Demonstrate a commitment to meet or exceed environmental compliance. … Products and services gross profit of $21.9 million was asecond-quarter record.Martin Marietta will reinstate full-yearearnings guidance when it has sufficient visibility. Compare Martin Marietta Materials to its competitors by revenue, employee growth and other metrics at Craft. We are committed to providing an environment of mutual respect where equal employment opportunities are available to all qualified applicants and teammates. The Company temporarily paused share repurchases inMarch 2020 in light of the COVID-19 pandemic. Martin Marietta has had a good first quarter with aggregate volumes up by more than 2%.
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