Martin Marietta (MLM) Q4 Earnings Miss Estimates, Up Y/Y
Zacks Investment Research | Feb 10, 2020 10:31PM ET
Martin Marietta Materials, Inc.’s (NYSE:MLM) shares dropped 1.6% in the pre-market trading session, after it reported lower-than-expected fourth-quarter 2019 earnings.
Nonetheless, the company highlighted 2019 as the most profitable year in its history. Improved shipments, pricing and profitability across the vast majority of the Building Materials business helped it to achieve the eighth consecutive year of growth in revenues, gross profit, adjusted EBITDA and earnings per share.
In the quarter under review, the company reported adjusted earnings per share of $2.09, missing the Zacks Consensus Estimate of $2.18 by 4.1%. However, the reported figure increased an impressive 39.3% from the year-ago level of $1.50 per share.
Total revenues (including Product and services and Freight revenues) in the quarter came in at $1,100.4 million, up 7.9% year over year. The upside was mainly attributable to double-digit growth in cement shipments. Also, higher shipments in the aggregates business led to the upside.
Martin Marietta Materials, Inc. Price, Consensus and EPS Surprise
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