Martin Marietta Q3 revenue beats estimates but profit misses on inflationary pressure
Overview
US aggregates supplier's Q3 revenue rose 28%, beating analyst expectations
Adjusted EPS for Q3 fell 11% and missed analyst expectations
Company says acquisitions, including Lhoist North America, drove record results despite inflation
Outlook
Martin Marietta raises 2026 revenue guidance midpoint to $7.8 bln from prior view
Company lifts 2026 adjusted EBITDA midpoint forecast to $2.48 bln
Company expects continued strength in infrastructure and data centers, with softer private construction markets
Result Drivers
ACQUISITIONS - Company said strong performance from recent acquisitions, including Lhoist North America, drove record Q3 revenue and offset inflationary pressures
INFLATIONARY PRESSURES - Company said expanding inflationary pressures weighed on heritage operations and contributed to lower organic profitability
OPERATIONAL EFFICIENCIES - Company said disciplined inventory management and reduced capital spending contributed to improved cash flow
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $2.37 bln | $2.25 bln (19 Analysts) |
Q3 Adjusted EPS | Miss | $5.47 | $6.04 (17 Analysts) |
Q3 EPS | $3.94 | ||
Q3 Net Income | $256 mln | ||
Q3 EPS continuing operations | $3.94 |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", 8 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the construction materials peer group is "buy"
Wall Street's median 12-month price target for Martin Marietta Materials, Inc. is $640.00, about 17.7% above its November 3 closing price of $543.77
The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 25 three months ago
Reuters Recommended Reads
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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)