Adjusted EBITDA totaled $336 million, a slight increase over the first quarter of 2025.
Cash from operations was $396 million; ended quarter with approximately $600 million cash and total debt just under $5.2 billion.
Engineered Wood Products adjusted EBITDA was $57 million, a slight increase compared to the first quarter.
Lumber adjusted EBITDA was $11 million, a $29 million decrease compared to the first quarter.
OSB adjusted EBITDA was $30 million, a $29 million decrease compared to the first quarter.
Real Estate and ENR contributed $106 million to second quarter earnings and $143 million to adjusted EBITDA, $61 million higher than the prior quarter.
Share repurchase activity totaled $100 million in the second quarter, highest quarterly level since late 2022.
Timberlands contributed $88 million to second quarter earnings with adjusted EBITDA of $152 million, a $15 million decrease compared to the first quarter.
Weyerhaeuser reported second quarter GAAP earnings of $87 million or $0.12 per diluted share on net sales of $1.9 billion.
Wood Products contributed $46 million to second quarter earnings and $101 million to adjusted EBITDA.
Aggregates revenues increased 6% to $1.32 billion, with gross profit rising 9% to $430 million and gross margin improving by 94 basis points to 33%.
Asphalt and Paving revenues decreased 7%, with gross profit down 8% due to lower shipments and higher costs.
Building Materials revenues rose 2% to $1.7 billion, with gross profit up 3% to $517 million and gross margin improving modestly to 30%.
Cement and Concrete revenues declined 6%, with gross profit down 25% due to lower operating leverage and higher raw material costs.
Full year 2025 adjusted EBITDA guidance was increased to $2.3 billion at the midpoint, reflecting strong first half results and contributions from the Premier Magnesia acquisition.
Magnesia Specialties achieved new quarterly record revenues of $90 million and set second quarter records for gross profit and gross margin, with margin increasing by 605 basis points.
Martin Marietta reported record second quarter 2025 financial results with consolidated adjusted EBITDA of $630 million, an 8% increase year-over-year.
Capital deployment included a 10% dividend increase to $0.275 per share and $117 million returned to shareholders through dividends and share repurchases in H1 2025.
GAAP earnings per diluted share were $0.77, adjusted earnings per diluted share were $1.15, and adjusted EBITDA margin was 8.5% with $105 million generated in adjusted EBITDA.
Insurance revenue grew 1% with a 9% increase in revenue per average enrolled member; insurance cost ratio (ICR) was slightly above expectations at just over 90%, impacted by older health claims and reserve releases.
Operating expenses declined 2% year-over-year, benefiting from automation and workforce strategy, while reinvesting savings into growth initiatives.
Retention remains above historical averages despite repricing headwinds, with an 80% or better retention rate targeted and slight decline in co-employed WSE retention by 1.5 points year-over-year.
Strong cash generation with $170 million net cash from operations and $136 million free cash flow in H1 2025; free cash flow conversion ratio was 51%, in line with plan.
Total WSEs declined 4% year-over-year to approximately 339,000, and co-employee WSEs declined 8%, driven by reduced new sales and higher attrition largely due to health fee increases.
TriNet delivered financial and operating performance consistent with expectations in Q2 2025, with total revenue flat year-over-year supported by insurance repricing and interest income.
Dafinchi