Martin Marietta FY24 Revenue Outlook: $6.745B-$7.185B Vs. $7.355B Estimate
Portfolio Pulse from Benzinga Newsdesk
Martin Marietta (MLM) provided its FY24 revenue outlook, projecting $6.745B-$7.185B, below the $7.355B estimate. The guidance includes the AFS acquisition and the South Texas cement and related concrete operations divestiture but excludes the BWI Southeast acquisition. Adjusted EBITDA is expected to be $2.37 billion at the midpoint, considering all transactions as if they occurred on January 1, 2024.
February 14, 2024 | 12:00 pm
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Martin Marietta's FY24 revenue outlook is below estimates, with expected revenues of $6.745B-$7.185B against a $7.355B estimate. The guidance accounts for the AFS acquisition and South Texas divestiture but not the BWI Southeast acquisition. Adjusted EBITDA is projected at $2.37 billion.
The projected revenue for FY24 being below analyst estimates suggests a potential negative impact on investor sentiment and stock price in the short term. The inclusion of acquisitions and divestitures in the guidance indicates strategic adjustments, but the exclusion of the BWI Southeast acquisition leaves uncertainty about its financial impact.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100