Martin Marietta Reports First-Quarter 2020 Results
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Martin Marietta Materials (MLM) Misses Q1 EPS by 8c, Revenues Beat; Withdraws FY20 Guidance
May 5, 2020 6:56 AM EDTMartin Marietta Materials (NYSE: MLM) reported Q1 EPS of $0.41, $0.08 worse than the analyst estimate of $0.49. Revenue for the quarter came in at $958.2 million versus the consensus estimate of $881.86 million.
LONG-TERM FUNDAMENTALS OF BUSINESS REMAIN POSITIVE Shipments and Pricing Increased Across Majority of Building Materials Business in the First QuarterCement and Magnesia Specialties Delivered First-Quarter Margin ExpansionCompany Strengthened Balance Sheet through Long-Term Debt Offering in Early MarchCompany Well Prepared for COVID-19 Challenging Operating ConditionsWithdraws Previously-Issued Full-Year 2020 Guidance in Light of COVID-19 Uncertainty
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