Martin Marietta Materials
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Martin Marietta Materials beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP earnings per share grew significantly.
Gross margins were steady, operating margins were steady, net margins increased.
Martin Marietta Materials reported revenue of $593.9 million. The 11 analysts polled by S&P Capital IQ looked for a top line of $576.2 million on the same basis. GAAP reported sales were 11% higher than the prior-year quarter's $534.8 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 $1.37. The 10 earnings estimates compiled by S&P Capital IQ predicted $1.28 per share. GAAP EPS of $1.36 for Q3 were 27% higher than the prior-year quarter's $1.07 per share. (The prior-year quarter included $0.01 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 20.8%, about the same as the prior-year quarter. Operating margin was 15.3%, about the same as the prior-year quarter. Net margin was 10.6%, 140 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $460.6 million. On the bottom line, the average EPS estimate is $0.50.
Next year's average estimate for revenue is $1.94 billion. The average EPS estimate is $2.30.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 157 members out of 185 rating the stock outperform, and 28 members rating it underperform. Among 63 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 56 give Martin Marietta Materials a green thumbs-up, and seven 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 $88.30.
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