Martin Marietta Materials, Inc. MLM reported downbeat fourth-quarter revenue and issued FY25 revenue guidance below estimates on Wednesday.
Martin Marietta Materials reported quarterly earnings of $4.79 per share which beat the analyst consensus estimate of $4.59 per share. The company reported quarterly sales of $1.63 billion which missed the analyst consensus estimate of $1.65 billion.
"In 2024, we faced several challenging dynamics beyond our control, including inclement weather, softening construction demand in both nonresidential and residential sectors, and tighter-than-expected monetary policy," Martin Marietta CEO Ward Nye said.
For 2025, Martin Marietta Materials said it sees revenues of $6.830 billion-$7.230 billion vs. (consensus of $7.23 billion). It expects adjusted EBITDA of $2.150 billion-$2.350 billion.
Martin Marietta Materials shares fell 2.2% to close at $517.14 on Wednesday.
These analysts made changes to their price targets on Martin Marietta Materials following earnings announcement.
- Barclays analyst Adam Seiden maintained Martin Marietta Materials with an Overweight and lowered the price target from $645 to $600.
- Truist Securities analyst Keith Hughes maintained the stock with a Buy and slashed the price target from $670 to $610.
Considering buying MLM stock? Here’s what analysts think:
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