Martin Marietta Materials, Inc. (MLM) revealed a profit for its first quarter that increased from last year and beat the Street estimates.
The company's earnings came in at $1.045 billion, or $16.87 per share. This compares with $121 million, or $1.95 per share, in last year's first quarter.
Analysts on average had expected the company to earn $1.83 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 7.6% to $1.251 billion from $1.354 billion last year.
Martin Marietta Materials, Inc. earnings at a glance (GAAP) :
-Earnings (Q1): $1.045 Bln. vs. $121 Mln. last year.
-EPS (Q1): $16.87 vs. $1.95 last year.
-Revenue (Q1): $1.251 Bln vs. $1.354 Bln last year.
-Guidance:
Full year revenue guidance: $6.900 to $7.300Bln
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