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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.