Building Material Company Martin Marietta's Q3 Bottomline Beats Despite Softer Demand In Certain Midwest & Southwest Markets: Here's Details
Portfolio Pulse from Akanksha Bakshi
Martin Marietta Materials, Inc. (NYSE:MLM) reported a 10.1% YoY revenue growth in Q3 FY23, slightly missing the consensus. The EPS from continuing operations was $6.94, beating the consensus of $6.06. The company's gross profit was $676 million, up 38.6% YoY. The company also returned $278.2 million to shareholders through dividends and share repurchases. The company has revised its FY23 total revenue and adjusted EBITDA guidance.
November 01, 2023 | 3:29 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Martin Marietta's Q3 FY23 results show strong performance with revenue growth and EPS beating consensus. The company also returned significant capital to shareholders.
Martin Marietta's Q3 FY23 results show strong performance despite missing revenue consensus slightly. The EPS beat and the return of capital to shareholders are positive signals that could drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100