Martin Marietta: 4Q Earnings Snapshot
RALEIGH, N.C. (AP) _ Martin Marietta Materials Inc. (MLM) on Tuesday reported fourth-quarter profit of $94.4 million.
The Raleigh, North Carolina-based company said it had profit of $1.50 per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were $1.66 per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.71 per share.
The seller of granite, limestone, sand and gravel posted revenue of $1.02 billion in the period. Its adjusted revenue was $956.1 million, exceeding Street forecasts. Five analysts surveyed by Zacks expected $936 million.
For the year, the company reported profit of $470 million, or $7.43 per share. Revenue was reported as $3.98 billion.
Martin Marietta expects full-year revenue in the range of $4.23 billion to $4.38 billion.
Martin Marietta shares have risen 8 percent since the beginning of the year. The stock has dropped 13 percent in the last 12 months.