Martin Marietta Materials, Inc. (NYSE:MLM) produces and supplies construction aggregates and other heavy building materials, mainly cement, in the U.S.
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. However, the company’s top line was hurt unfavorable weather, which includes wet weather in Texas during majority of the second quarter 2016 and the El Niño effect, which started in the spring of 2015 and ended in May 2016.
MARTIN MRT-MATL Price and EPS Surprise
MARTIN MRT-MATL Price and EPS Surprise | MARTIN MRT-MATL Quote
Investors should also that earnings estimate moved south for MLM over the past 7 days. Moreover, MLM has a disappointing earnings history. The company has posted negative earnings surprise in three of the past four quarters, with a negative average surprise of -24.11%.
Currently, MLM has a Zacks Rank #5 (Strong Sell), but that could definitely change following Martin Marietta’ earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: MLM missed on earnings. Our consensus earnings estimate called for EPS of $2.64 /share, and the company reported adjusted earnings of $2.49/ share instead. Investors should note that these figures take out stock option expenses.
Revenues: MLM reported revenues of $1.04 billion. This missed our consensus estimate of $1.06 billion.
Key Stats to Note: Aggregate shipment decreased 7.2% in the quarter.
Check back later for our full write up on this MLM earnings report later.
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
MARTIN MRT-MATL (MLM): Free Stock Analysis Report
Original post
Zacks Investment Research