Martin Marietta beats by $0.08, beats on revs; authorized a new share repurchase program
Reports Q4 (Dec) earnings of $0.94 per share, $0.08 better than the Capital IQ Consensus Estimate of $0.86; revenues rose 57.1% year/year to $856.3 mln vs the $844.43 mln consensus.
Co authorized a new share repurchase program under which the Company may acquire up to 20 mln shares of its outstanding common stock.
For FY15, co expects:
Aggregates-related downstream product lines to generate between $875 mln and $925 mln of net sales and $65 mln to $70 mln of gross profit.
Net sales for the Cement segment to be between $475 mln and $500 mln, generating $120 mln to $130 mln of gross profit.
Net sales for the Magnesia Specialties segment to be between $240 mln and $250 mln, generating $85 mln to $90 mln of gross profit.