Martin Marietta Materials Raises Full-Year Guidance - Quick Facts

(RTTNews) - Martin Marietta Materials, Inc. (MLM) said it achieved new quarterly records for revenues, gross profit and adjusted EBITDA, during the second quarter driven by increased aggregates shipments, continued pricing momentum across the Building Materials business and improved cost management. Based on the first-half performance, the company increased its full-year outlook.

For the second-quarter, earnings per share was $3.01 compared to $2.92, prior year. The company noted that its 2019 second-quarter earnings per share includes a charge of $0.19 per share for a prior-period error. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $3.11, for the quarter. Analysts' estimates typically exclude special items.

Second-quarter total revenues increased to $1.28 billion from $1.20 billion, previous year. Products and services revenues were $1.20 billion compared to $1.13 billion, last year. Analysts expected revenue of $1.20 billion, for the quarter.

For 2019, the company now expects: net earnings attributable to Martin Marietta in a range of $530.0 million to $640.0 million; and total revenues in the range of $4.54 billion to $4.73 billion.