Martin Marietta Materials, Inc. (MLM) is benefiting from its strong aggregates pricing strategy, strength in public construction and accretive acquisitions. Also, the emphasis on long-term strategic plans — markedly SOAR (Strategic Operating Analysis and Review) 2025 initiatives bodes well. The expected improving infrastructure activity trend through 2024, thanks to a solid inflow of public funds for infrastructure and manufacturing activities, is encouraging. The Zacks Rank #3 (Hold) company's 2024 earning ...

Core Viewpoint - Martin Marietta reported mixed results for Q1 2024, with earnings exceeding estimates but revenues falling short, indicating potential challenges ahead [2][4]. Financial Performance - Adjusted EPS was $1.93, surpassing the Zacks Consensus Estimate of $1.88 by 2.7%, but down 10.7% from $2.16 in the previous year [4]. - Total revenues were $1.25 billion, a decrease of 7.6% year-over-year from $1.35 billion, and missed the consensus mark of $1.3 billion by 3.4% [4]. Segment Analysis - Building Materials segment revenues were $1.17 billion, down 7.9% year-over-year, with a gross margin decline of 100 basis points to 21% [5]. - Aggregates revenues fell 3% to $885 million, with shipments down 12.3% year-over-year, although average selling price increased by 12.2% [6]. - Cement and ready-mixed concrete revenues dropped 22.1% to $265 million, with cement shipments down 37.1% due to divestitures and adverse weather [7]. - Asphalt and Paving revenues slightly increased to $59 million, while Magnesia Specialties revenues decreased by 3% to $81 million [8]. Operating Metrics - Adjusted EBITDA was $291 million, a decline of 10.2% year-over-year, with an adjusted EBITDA margin of 23%, down 70 basis points [9]. Liquidity and Cash Flow - As of March 31, 2024, cash and cash equivalents stood at $2.65 billion, up from $1.27 billion at the end of 2023, with $1.2 billion of unused borrowing capacity [10]. 2024 Guidance - The company updated its revenue guidance to $6.9-$7.3 billion, reflecting a 5% increase at midpoint from $6.78 billion in 2023 [11]. - Adjusted EBITDA is now projected to be between $2.3 billion and $2.44 billion, indicating an 11% growth at midpoint from $2.13 billion in 2023 [11]. - Net earnings from continuing operations are anticipated to be $2.21-$2.3 billion, up 88% at midpoint year-over-year [12]. Aggregate Expectations - Aggregate shipment growth is expected to be up 2-6%, with total aggregate pricing per ton anticipated to rise 11-13% [12]. - Aggregate gross profit is projected to be within the $1.71-$1.79 billion range, reflecting a 27% increase at midpoint from 2023 [13]. Market Sentiment - Estimates for the stock have trended upward recently, indicating a positive outlook [14][16]. - Martin Marietta holds a Zacks Rank 2 (Buy), suggesting expectations for above-average returns in the coming months [16].

Core Viewpoint - Martin Marietta (MLM) has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive outlook based on rising earnings estimates, which significantly influence stock prices [1][4][12] Earnings Estimates and Revisions - The Zacks Consensus Estimate for Martin Marietta is projected at $21.88 per share for the fiscal year ending December 2024, reflecting a year-over-year increase of 13.3% [9] - Over the past three months, the Zacks Consensus Estimate for Martin Marietta has risen by 3.8%, indicating a trend of increasing earnings estimates [9] Zacks Rating System - The Zacks rating system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [8] - The upgrade to Zacks Rank 1 places Martin Marietta in the top 5% of Zacks-covered stocks, suggesting a strong potential for price appreciation in the near term [12] Market Dynamics - Changes in earnings estimates are strongly correlated with stock price movements, with institutional investors often adjusting their valuations based on these estimates [5][6] - The positive earnings outlook for Martin Marietta is expected to create buying pressure, further driving up the stock price [4][6]

RALEIGH, N.C., May 16, 2024 (GLOBE NEWSWIRE) -- Martin Marietta Materials, Inc. (NYSE: MLM) ("Martin Marietta" or the "Company") today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.74 per share on the Company's outstanding common stock. This dividend, which represents a cash dividend of $2.96 per share on an annualized basis, is payable June 28, 2024, to shareholders of record at the close of business on June 3, 2024. Martin Marietta, a member of the S&P 500 Inde ...

RALEIGH, N.C., May 16, 2024 (GLOBE NEWSWIRE) -- Martin Marietta Materials, Inc. (NYSE: MLM) ("Martin Marietta" or the "Company") today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.74 per share on the Company's outstanding common stock. This dividend, which represents a cash dividend of $2.96 per share on an annualized basis, is payable June 28, 2024, to shareholders of record at the close of business on June 3, 2024. MLM-D Investor Contact: Jacklyn Rooker Direct ...

ADJUSTED EBITDA | --- | --- | --- | |------------------------------------------------------------------------------------------------------------|-----------------------------------|-----------------------------------| | | Three Months Ended Mar 31, 2024 | Three Months Ended Mar 31, 2023 | | Net earnings from continuing operations attributable to Martin Marietta | | $1,045 $134 | | Add back (Deduct): | | | | Interest expense, net of interest income | | 14 32 | | Income tax expense for controlling interests ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-12744 MARTIN MARIETTA MATERIALS, INC. (Exact Name of Registrant as Specified in its Charter) North Carolina 56-1848578 (State or ot ...

Martin Marietta Materials, Inc. (MLM) reported mixed results for the first quarter of 2024. Earnings surpassed the Zacks Consensus Estimate but revenues missed the same. Both the top and bottom lines decreased on a year-over-year basis.Following the results, shares of this producer and supplier of construction aggregates and other heavy building materials lost 0.7% in the pre-market trading session on Apr 30.Going forward, MLM anticipates record federal-level and state-level infrastructure investments, larg ...

For the quarter ended March 2024, Martin Marietta (MLM) reported revenue of $1.25 billion, down 7.6% over the same period last year. EPS came in at $1.93, compared to $2.16 in the year-ago quarter.The reported revenue represents a surprise of -3.40% over the Zacks Consensus Estimate of $1.3 billion. With the consensus EPS estimate being $1.88, the EPS surprise was +2.66%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ex ...

Martin Marietta (MLM) came out with quarterly earnings of $1.93 per share, beating the Zacks Consensus Estimate of $1.88 per share. This compares to earnings of $2.16 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.66%. A quarter ago, it was expected that this seller of granite, limestone, sand and gravel would post earnings of $3.96 per share when it actually produced earnings of $4.63, delivering a surprise of 16.92%.Over ...