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Martin Marietta Materials profit misses consensus by 16.7% in Q3

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Martin Marietta Materials profit misses consensus by 16.7% in Q3

Martin Marietta Materials Inc. said its normalized net income for the third quarter came to $1.82 per share, compared with the S&P Capital IQ consensus estimate of $2.19 per share.

EPS increased 46.1% year over year from $1.25.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $122.4 million, a gain of 45.2% from $84.3 million in the prior-year period.

The normalized profit margin increased to 12.2% from 9.2% in the year-earlier period.

Total revenue increased 9.5% year over year to $1.01 billion from $917.9 million, and total operating expenses rose year over year to $794.9 million from $765.0 million.

Reported net income grew 119.0% year over year to $116.8 million, or $1.74 per share, from $53.3 million, or 79 cents per share.