Shares of Martin Marietta Materials tumbled 5.21% in pre-market trading on Wednesday, after the building materials supplier forecasted annual revenue and profit largely below analysts' expectations, citing softness in residential construction demand.
The company projected 2025 revenue between $6.63 billion and $7.23 billion, with the midpoint missing consensus estimates of $7.22 billion. Additionally, Martin Marietta guided for adjusted EBITDA between $2.15 billion and $2.35 billion, compared to analyst estimates of $2.34 billion.
Martin Marietta's fourth-quarter revenue of $1.63 billion also narrowly missed expectations of $1.65 billion, as the company faced challenges from adverse weather conditions, softer construction demand across both nonresidential and residential sectors, and tighter monetary policy.
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