Martin Marietta Materials, Inc. (NYSE:MLM) produces and supplies construction aggregates and other heavy building materials, mainly cement, in the U.S.
Despite performing below expectations in 2015, Martin Marietta remains quite optimistic about witnessing underlying demand growth and strong pricing in 2016. The company expects better volume growth in its key end markets – infrastructure and non-residential construction markets.
Investors should also that earnings estimate for MLM has remained more or less stable over the past 30 days. Moreover, MLM has a disappointing earnings history. The company has posted negative earnings surprise in all the past four quarters, with a negative average surprise of -16.55%.
Currently, MLM has a Zacks Rank #3 (Hold), but that could definitely change following Martin Marietta’ earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: MLM beats on earnings. Our consensus earnings estimate called for EPS of $0.31 /share, and the company reported adjusted earnings of $0.69/ share instead. Investors should note that these figures take out stock option expenses.
Revenues: MLM reported revenues of $734.0 million. This surpassed our consensus estimate of $639 million.
Key Stats to Note: Aggregate shipment increased 13.3% in the quarter.
Stock Price: Shares rose over 3% in pre-market trading.
Check back later for our full write up on this MLM earnings report later.
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MARTIN MRT-MATL (MLM): Free Stock Analysis Report
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