Martin Marietta (MLM) came out with quarterly earnings of $5.26 per share, missing the Zacks Consensus Estimate of $5.57 per share. This compares to earnings of $5.60 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -5.57%. A quarter ago, it was expected that this seller of granite, limestone, sand and gravel would post earnings of $1.88 per share when it actually produced earnings of $1.93, delivering a surprise of 2.66%. Ove ...

Martin Marietta Materials, Inc. (MLM) is scheduled to report second-quarter 2024 results on Aug 8, before the opening bell. In the last reported quarter, the company's adjusted earnings per share (EPS) surpassed the Zacks Consensus Estimate by 2.7% but revenues missed the same by 3.4%. On a year-over-year basis, this aggregates producer's earnings and total revenues were down 10.7% and 7.6%, respectively. Notably, Martin Marietta's earnings topped the consensus mark in the last four quarters, the average su ...

The market expects Martin Marietta (MLM) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on August 8, 2024, might help the stock move higher if these key numbers ar ...

RALEIGH, N.C., July 15, 2024 (GLOBE NEWSWIRE) -- Martin Marietta Materials, Inc. (NYSE:MLM) ("Martin Marietta" or the "Company") will host its second-quarter 2024 earnings conference call on Thursday, August 8, 2024, at 10:00 a.m. Eastern Time. The Company will release results for the quarter ended June 30, 2024, that morning before the market opens. A live, listen-only webcast and supplemental information will be accessible on the Investors section of the Company's website at www.martinmarietta.com. The co ...

Company Overview - Martin Marietta Materials, Inc. is a leading supplier of building materials, including aggregates, cement, ready mixed concrete, and asphalt [4] - The company operates across 28 states, Canada, and The Bahamas, providing essential resources for community infrastructure [4] - Martin Marietta's Magnesia Specialties business produces high-purity magnesia and dolomitic lime products for various applications globally [4] Upcoming Earnings Conference Call - The company will host its second-quarter 2024 earnings conference call on August 8, 2024, at 10:00 a.m. Eastern Time [3] - Results for the quarter ended June 30, 2024, will be released that morning before the market opens [3] - A live webcast and supplemental information will be available on the company's investor relations website [3]

Group 1: Industry Overview - The Infrastructure Investment and Jobs Act, the Creating Helpful Incentives to Produce Semiconductors and Science Act, and the Inflation Reduction Act represent a significant commitment to enhancing American competitiveness through infrastructure revitalization and sustainable economic shifts [1] - The Zacks Building Products - Concrete & Aggregates industry includes manufacturers and distributors of construction materials, focusing on public infrastructure, residential, and non-residential markets [4][22] - The industry has outperformed the S&P 500 with a collective gain of 17.2% over the past year, while the broader sector rose by 30.1% [9][24] Group 2: Economic Factors - The Federal Reserve's decision to implement only one rate cut this year indicates a tight monetary policy, which may elevate financing costs for infrastructure projects and slow down new constructions [5][16] - Weather-related risks, such as excessive rainfall and hurricanes, pose challenges to production schedules and profitability, particularly affecting the first and fourth quarters [6][19] Group 3: Company Performance - Martin Marietta Materials is expected to have a strong year ahead, driven by robust market fundamentals and a projected earnings growth of 22.1% for 2024 [30][31] - Vulcan Materials has seen a 20% increase in shares over the past year, with earnings estimates for 2024 rising to $8.54 per share, reflecting a 22% expected growth [32] Group 4: Strategic Initiatives - Companies in the industry are focusing on acquisitions and operational efficiency to enhance their market presence and profitability [21] - Martin Marietta's strategic initiatives include expanding its reach through acquisitions, while Vulcan Materials emphasizes cost-control efforts and systematic inorganic growth strategies [12][13][27]

Uncertainties in the macroeconomic landscape, weather-related issues, and increased labor costs pose challenges for the Zacks Building Products - Concrete & Aggregates industry. The Federal Reserve's recent decision to maintain high interest rates and reduce the expected number of rate cuts this year from three to one can impact the industry players. Industry Description Focus on Reviving Infrastructure: The Infrastructure Investment and Jobs Act, the Creating Helpful Incentives to Produce Semiconductors an ...

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]