Martin Marietta Materials, Inc.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.
Investors should also that earnings estimate moved north for MLM over the past 60 days. However, 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 23.9%.
Currently, MLM has a Zacks Rank #3 (Hold), 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 $1.65 /share, and the company reported adjusted earnings of $1.55/ share instead. Investors should note that these figures take out stock option expenses.
Martin Marietta Materials, Inc. Price and EPS Surprise
Revenues: MLM reported revenues of $889.0 billion. This surpassed our consensus estimate of $887.61 million.
Key Stats to Note : Aggregate shipment increased 0.4% in the quarter.
Check back later for our full write up on this MLM earnings report later.
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