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RALEIGH, N.C. - On Wednesday, Martin Marietta Materials, Inc. (NYSE:MLM) reported fourth-quarter earnings that beat expectations, but revenue fell short of analyst estimates, sending shares down -3.02% in pre-market trading.
The building materials supplier posted earnings per share of $4.79 for the quarter, surpassing the consensus estimate of $4.64. However, revenue came in at $1.63 billion, missing analysts’ projections of $1.65 billion.
For the fourth quarter, aggregates shipments increased 2.7% year-over-year to 47.9 million tons. Average selling price for aggregates rose 8.6% to $21.95 per ton. Aggregates gross profit jumped 16% to $379 million, driven by contributions from acquired operations, organic pricing growth, and lower diesel costs.
"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," said Ward Nye, Chair and CEO of Martin Marietta. "Despite these headwinds, we remained steadfast in executing our strategic priorities and concluded the year with a return to earnings growth and margin expansion, resulting in record fourth quarter profits."
Looking ahead, Martin Marietta provided full-year 2025 revenue guidance of $6.83 billion to $7.23 billion, compared to the consensus estimate of $7.21 billion. The company expects aggregates shipment volume growth of 2.5% to 5.5% and average selling price growth of 5.5% to 7.5% in 2025.
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