Construction materials supplier Martin Marietta Materials (NYSE: MLM) will be reporting results this Thursday morning. Here’s what to expect.
Martin Marietta Materials missed analysts’ revenue expectations last quarter, reporting revenues of $1.53 billion, up 8.6% year on year. It was a softer quarter for the company, with full-year revenue guidance missing analysts’ expectations significantly and a significant miss of analysts’ revenue estimates.
Is Martin Marietta Materials a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Martin Marietta Materials’s revenue to be flat year on year, slowing from the 8.2% increase it recorded in the same quarter last year.
Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing in majority upward revisions over the last 30 days.
Looking at Martin Marietta Materials’s peers in the building materials segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Valmont delivered year-on-year revenue growth of 6.2%, beating analysts’ expectations by 3%, and Sherwin-Williams reported revenues up 6.8%, topping estimates by 2.1%. Valmont traded up 13.9% following the results.
Read our full analysis of Valmont’s results here and Sherwin-Williams’s results here.
There has been positive sentiment among investors in the building materials segment, with share prices up 14.1% on average over the last month. Martin Marietta Materials is up 7.1% during the same time and is heading into earnings with an average analyst price target of $690.96 (compared to the current share price of $614.02).
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