Martin Marietta (MLM) Stock Up As Q3 Earnings Top Estimates
Zacks Investment Research | Oct 29, 2019 12:00AM ET
Martin Marietta Materials, Inc.’s (NYSE:MLM) shares jumped nearly 4% in the pre-market trading session, as the company reported solid results in third-quarter 2019. The upside is mainly driven by broad-based improvement in shipments, and pricing and profitability across the Building Materials business. This reflects disciplined execution of its strategic plan and operational excellence.
Notably, it raised its full-year 2019 guidance on the back of strong performance in the first nine months of the year and attractive underlying housing market fundamentals.
In the quarter under review, the company reported adjusted earnings per share of $3.96, beating the Zacks Consensus Estimate of $3.50 by 13.1%. Also, the reported figure increased a whopping 38.9% from the year-ago level of $2.85 per share.
Martin Marietta Materials, Inc. Price, Consensus and EPS Surprise
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