Martin Marietta beats by $0.41, beats on revs; reaffirms FY19 revs guidance (214.53)
- Reports Q1 (Mar) earnings of $0.68 per share, $0.41 better than the S&P Capital IQ Consensus of $0.27; revenues rose 17.1% year/year to $938.96 mln vs the $881.82 mln S&P Capital IQ Consensus.
- Co reaffirms guidance for FY19, sees FY19 revs of $4.48-4.68 bln vs. $4.56 bln S&P Capital IQ Consensus.
- "Consistent with our expectations, construction activity in our key regions, supported by strengthening public- and private-sector spending, is outpacing the nation as a whole. Infrastructure construction has begun in earnest on several transportation projects in North Carolina, Georgia and Florida following the recent acceleration in public lettings and contract awards in these key states. Additionally, notable employment gains and population growth continue to support private-sector strength in our leading markets. These favorable dynamics bode well for a busy construction season throughout the remainder of the year.