Financial PerformanceMLM's 2025 EBITDA guidance fell short of expectations due to a softer outlook for private, timing of aggs price increase, and margin compression in its downstream business.
Interest RatesHigher for longer interest rates are putting pressure on construction activities, impacting the organic outlook for private construction.
Private ConstructionPrivate construction trends are weakening, raising concerns that volumes could take a leg down into 2026 and placing pressure on price increases.