Martin Marietta Materials Q2 Adj. EPS $5.60 Beats $4.85 Estimate, Sales $1.82B Miss $1.83B Estimate
Portfolio Pulse from Benzinga Newsdesk
Martin Marietta Materials (NYSE:MLM) reported Q2 adjusted earnings of $5.60 per share, beating the analyst consensus estimate of $4.85 by 15.46%. However, this is a 0.88% decrease from the same period last year. The company's quarterly sales of $1.82 billion missed the analyst consensus estimate of $1.83 billion by 0.49%, but it's a 10.90% increase from the same period last year.
July 27, 2023 | 11:02 am
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Martin Marietta Materials' Q2 earnings beat estimates but sales missed. The earnings per share decreased by 0.88% YoY, while sales increased by 10.90% YoY.
Martin Marietta Materials' Q2 earnings beat the analyst consensus estimate, which is a positive signal for investors. However, the company's sales missed the estimate, which could be a concern. The YoY decrease in earnings per share might also worry some investors, despite the YoY increase in sales. Therefore, the impact on the stock price could be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100