Exhibit 11.01

MARTIN MARIETTA MATERIALS, INC. AND CONSOLIDATED SUBSIDIARIES

COMPUTATION OF EARNINGS PER SHARE

For the Three and Six Months Ended June 30, 2003 and 2002

(Dollars in Thousands, Except Per Share Data)

		Three Months Ended
		June 30
		2003			2002
Earnings from continuing operations		$	39,800		$	42,827
(Loss) earnings on discontinued operations			(150	)		10,535
Net earnings		$	39,650		$	53,362
Weighted average number of common shares outstanding:
	Basic		48,905,591			48,700,333
	Effect of dilutive securities		205,455			151,474
	Diluted		49,111,046			48,851,807
Net earnings per common share:
	Basic from continuing operations	$	0.81		$	0.88
	Discontinued operations		—			0.22
		$	0.81		$	1.10
	Diluted from continuing operations	$	0.81		$	0.88
	Discontinued operations		—			0.21
		$	0.81		$	1.09

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		Six Months Ended
		June 30
		2003			2002
					(Restated)
Earnings from continuing operations before the cumulative effect of change in accounting principle		$	26,883		$	35,254
(Loss) earnings on discontinued operations			(1,251	)		7,559
Cumulative effect of change in accounting for asset retirement obligations			(6,874	)		—
Cumulative effect of change in accounting for intangible assets			—			(11,510	)
Net earnings		$	18,758		$	31,303
Weighted average number of common shares outstanding:
	Basic		48,898,334			48,627,885
	Effect of dilutive securities		186,597			157,267
	Diluted		49,084,931			48,785,152
Net earnings per common share:
	Basic from continuing operations before cumulative effect of change in accounting principle	$	0.55		$	0.72
	Discontinued operations		(0.03	)		0.16
	Cumulative effect of change in accounting principle		(0.14	)		(0.23	)
		$	0.38		$	0.65
	Diluted from continuing operations before cumulative effect of change in accounting principle	$	0.55		$	0.72
	Discontinued operations		(0.03	)		0.16
	Cumulative effect of change in accounting principle		(0.14	)		(0.23	)
		$	0.38		$	0.65

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