Martin Marietta Materials Beats on the Top Line
Martin Marietta Materials (NYS: MLM) reported earnings on May 1. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Martin Marietta Materials beat expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue improved and GAAP loss per share expanded.
Gross margins improved, operating margins dropped, net margins shrank.
Martin Marietta Materials tallied revenue of $394.0 million. The 11 analysts polled by S&P Capital IQ predicted revenue of $368.5 million on the same basis. GAAP reported sales were 11% higher than the prior-year quarter's $356.5 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.30. The 14 earnings estimates compiled by S&P Capital IQ forecast -$0.24 per share. GAAP EPS were -$0.81 for Q1 against -$0.39 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 6.0%, 10 basis points better than the prior-year quarter. Operating margin was -8.5%, 610 basis points worse than the prior-year quarter. Net margin was -9.3%, 440 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $519.2 million. On the bottom line, the average EPS estimate is $1.00.
Next year's average estimate for revenue is $1.90 billion. The average EPS estimate is $2.46.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 155 members out of 176 rating the stock outperform, and 21 members rating it underperform. Among 64 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 60 give Martin Marietta Materials a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Martin Marietta Materials is hold, with an average price target of $89.80.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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