Martin Marietta misses 4Q profit forecasts

Martin Marietta misses 4Q profit expectations, tops revenue forecasts

RALEIGH, N.C. (AP) _ Martin Marietta Materials Inc. (MLM) on Tuesday reported fourth-quarter profit of $98.9 million.

On a per-share basis, the Raleigh, North Carolina-based company said it had profit of $1.55.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.66 per share.

The seller of granite, limestone, sand and gravel posted revenue of $948.8 million in the period. Its adjusted revenue was $889 million, exceeding Street forecasts. Four analysts surveyed by Zacks expected $887.6 million.

For the year, the company reported profit of $425.4 million, or $6.63 per share. Revenue was reported as $3.58 billion.

Martin Marietta expects full-year revenue in the range of $3.75 billion to $3.95 billion.

Martin Marietta shares have risen 4.5 percent since the beginning of the year. The stock has increased 79 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MLM at https://www.zacks.com/ap/MLM

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Keywords: Martin Marietta, Earnings Report

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