Martin Marietta Mate
MLM
Delayed Nyse - 05/25 10:02:00 pm
217.7USD
-0.33%

Martin Marietta Materials : beats 4Q profit forecasts

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02/13/2018 | 01:47 pm

RALEIGH, N.C. (AP) _ Martin Marietta Materials Inc. (MLM) on Tuesday reported fourth-quarter profit of $377.2 million.

On a per-share basis, the Raleigh, North Carolina-based company said it had net income of $5.95. Earnings, adjusted for pretax gains, were $1.88 per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.

The seller of granite, limestone, sand and gravel posted revenue of $970.5 million in the period. Its adjusted revenue was $911.3 million, missing Street forecasts. Four analysts surveyed by Zacks expected $913.3 million.

For the year, the company reported profit of $713.3 million, or $11.25 per share. Revenue was reported as $3.72 billion.

Martin Marietta expects full-year revenue in the range of $4.16 billion to $4.36 billion.

Martin Marietta shares have fallen almost 4 percent since the beginning of the year. The stock has decreased almost 8 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MLM at https://www.zacks.com/ap/MLM

Automated Insights, source Associated Press News

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