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

Martin Marietta Materials

30/04/2024 15:09

* Martin Marietta Materials Inc  MLM.N  reported quarterly
adjusted earnings of $1.93​​ per share for the quarter ended in
March, lower than the same quarter last year, when the company
reported EPS of $2.16.  The mean expectation of
nineteen analysts for the quarter was for earnings of $1.83 per
share. Wall Street expected results to range from $1.56 
to $2.62 per share.
    * Revenue fell 7.6% to $1.25 billion from a year ago;
analysts
expected $1.32 billion. 
    * Martin Marietta Materials Inc's reported EPS for the
quarter was
$16.87​.
    * The company reported quarterly net income of $1.05
billion.
    * Martin Marietta Materials Inc shares had fallen by 1.8%
this
quarter and gained 20.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 25.9%
in the last three months.​ 
    * In the last 30 days, nine 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 $635.00 
This summary was machine generated from LSEG data April 30 at
02:09 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
 Mar. 31 2024      1.83           1.93           Beat
 Dec. 31 2023                     4.63           
 Sep. 30 2023      6.06           6.94           Beat
 Jun. 30 2023      4.86           5.60           Beat