Martin Marietta Materials
The 10-second takeaway
For the quarter ended June 30 (Q2), Martin Marietta Materials missed estimates on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share dropped. GAAP earnings per share grew.
Gross margins grew, operating margins shrank, net margins grew.
Martin Marietta Materials reported revenue of $562.7 million. The 10 analysts polled by S&P Capital IQ predicted a top line of $593.9 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
EPS came in at $0.90. The 11 earnings estimates compiled by S&P Capital IQ forecast $1.14 per share. Non-GAAP EPS of $0.90 for Q2 were 4.3% lower than the prior-year quarter's $0.94 per share. (The prior-year quarter included $0.01 per share in earnings from discontinued operations.) GAAP EPS of $0.89 for Q2 were 11% higher than the prior-year quarter's $0.80 per share. (The prior-year quarter included $0.01 per share in earnings from discontinued operations.)
For the quarter, gross margin was 19.0%, 30 basis points better than the prior-year quarter. Operating margin was 12.3%, 30 basis points worse than the prior-year quarter. Net margin was 7.3%, 60 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $666.2 million. On the bottom line, the average EPS estimate is $1.62.
Next year's average estimate for revenue is $2.16 billion. The average EPS estimate is $2.89.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 153 members out of 178 rating the stock outperform, and 25 members rating it underperform. Among 61 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 56 give Martin Marietta Materials a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Martin Marietta Materials is outperform, with an average price target of $111.50.
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