Construction materials supplier Martin Marietta Materials (NYSE:MLM) will be announcing earnings results this Wednesday before the bell. Here’s what to expect.
Martin Marietta Materials missed analysts’ revenue expectations by 10.5% last quarter, reporting revenues of $1.85 billion, up 12.4% year on year. It was a slower quarter for the company, with full-year revenue guidance missing analysts’ expectations significantly and full-year EBITDA guidance missing analysts’ expectations significantly.
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, analysts are expecting Martin Marietta Materials’s revenue to be flat year on year at $1.62 billion, slowing from the 1.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $4.99 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Martin Marietta Materials’s peers in the building products segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Carlisle posted flat year-on-year revenue, beating analysts’ expectations by 1.4%, and Sherwin-Williams reported revenues up 5.6%, topping estimates by 0.8%. Carlisle traded up 11.1% following the results while Sherwin-Williams was also up 1.4%.
Read our full analysis of Carlisle’s results here and Sherwin-Williams’s results here.
There has been positive sentiment among investors in the building products segment, with share prices up 8.2% on average over the last month. Martin Marietta Materials is up 4.7% during the same time and is heading into earnings with an average analyst price target of $685.63 (compared to the current share price of $695.81).
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