Martin Marietta: Q1 Earnings Snapshot
RALEIGH, N.C. (AP) _ Martin Marietta Materials Inc. (MLM) on Tuesday reported first-quarter profit of $65.3 million.
The Raleigh, North Carolina-based company said it had net income of $1.04 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.
The seller of granite, limestone, sand and gravel posted revenue of $982.4 million in the period. Its adjusted revenue was $921.9 million, also topping Street forecasts. Four analysts surveyed by Zacks expected $905.3 million.
Martin Marietta expects full-year revenue in the range of $4.51 billion to $4.7 billion.
Martin Marietta shares have increased 25% since the beginning of the year. The stock has climbed 90% in the last 12 months.