Martin Marietta Materials Lowers FY24 Sales Guidance from $6.50B-$6.94B to $6.45B-$6.71B Vs. $6.61B Estimate
Portfolio Pulse from Benzinga Newsdesk
Martin Marietta Materials has revised its FY24 sales guidance downwards, now expecting revenues between $6.45B and $6.71B, compared to the previous range of $6.50B to $6.94B. The company has also provided updated figures for interest expenses, tax rates, net earnings, adjusted EBITDA, and capital expenditures.
October 30, 2024 | 11:00 am
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Martin Marietta Materials has lowered its FY24 sales guidance, indicating potential challenges in achieving previous revenue targets. The revised guidance suggests a more conservative outlook on revenue and profitability.
The downward revision in sales guidance suggests that Martin Marietta Materials may face challenges in meeting its previous revenue expectations. This could be due to various factors such as market conditions or operational issues. The lower guidance is likely to impact investor sentiment negatively in the short term, as it indicates a less optimistic financial outlook.
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IMPORTANCE 80
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