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Martin Marietta Materials Q3 profit falls YOY

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Martin Marietta Materials Q3 profit falls YOY

Martin Marietta Materials Inc. said its third-quarter normalized net income came to $2.16 per share, compared with the S&P Capital IQ consensus estimate of $2.46 per share.

EPS fell year over year from $2.26.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $136.3 million, a decline of 5.5% from $144.2 million in the year-earlier period.

The normalized profit margin fell to 13.3% from 13.9% in the year-earlier period.

Total revenue decreased on an annual basis to $1.02 billion from $1.04 billion, and total operating expenses decreased on an annual basis to $781.4 million from $795.4 million.

Reported net income declined year over year to $150.9 million, or $2.39 per share, from $158.7 million, or $2.49 per share.