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Martin Marietta misses fourth-quarter revenue estimates on adverse weather
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Martin Marietta misses fourth-quarter revenue estimates on adverse weather
Feb 12, 2025 5:15 AM

Feb 12 (Reuters) - Building material supplier Martin

Marietta Materials ( MLM ) reported fourth-quarter revenue that

missed Wall Street estimates on Wednesday, hurt by adverse

weather conditions.

Shares of the Raleigh, North Carolina-based company fell

3.4% before the bell.

The company struggled with several storms and hurricanes

through the year, which led to product delays and a relatively

lower percentage of mid-year price increases.

"In 2024, we faced several challenging dynamics beyond our

control, including inclement weather, softening construction

demand in both nonresidential and residential sectors and

tighter-than-expected monetary policy," said CEO Ward Nye.

Martin Marietta's quarterly revenue rose 1% to $1.63

billion, compared with analysts' estimates of $1.65 billion

according to data compiled by LSEG.

The company expects to earn 2025 annual revenue between

$6.83 billion and $7.23 billion, the midpoint of which is below

analysts' estimates of $7.22 billion.

For the quarter ended Dec. 31, the company posted net income

of $294 million, or $4.79 per share, from $283 million, or $4.55

per share, a year earlier.

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