Martin Marietta Materials Inc reports results for the quarter ended in June - Earnings Summary

Martin Marietta Materials

08/08/2024 15:21

* Martin Marietta Materials Inc  MLM.N  reported quarterly
adjusted earnings of $5.08​​ per share for the quarter ended in
June, lower than the same quarter last year, when the company
reported EPS of $5.60.  The mean expectation of
nineteen analysts for the quarter was for earnings of $5.36 per
share. Wall Street expected results to range from $4.86 
to $5.85 per share.
    * Revenue fell 3.1% to $1.76 billion from a year ago;
analysts
expected $1.83 billion. 
    * Martin Marietta Materials Inc's reported EPS for the
quarter was
$4.77​.
    * The company reported quarterly net income of $294 million.
    * Martin Marietta Materials Inc shares had fallen by 0.6%
this
quarter and gained 7.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 16.9%
in the last three months.​ 
    * In the last 30 days, eleven analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 16 "strong buy" or "buy," 8
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the construction
materials peer group is also "buy"

Wall Street's median 12-month price target for Martin Marietta
Materials Inc is $650.00 
This summary was machine generated from LSEG data August 8 at
02:21 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      5.36           5.08           Missed
 Mar. 31 2024      1.83           1.93           Beat
 Dec. 31 2023      3.99           4.63           Beat
 Sep. 30 2023      6.06           6.94           Beat