Martin Marietta Materials Inc (NYSE:MLM) shares are trading higher after it reported fourth-quarter FY23 results.
Revenue grew 8.9% Y/Y to $1.608 billion, missing the consensus of $1.632 billion.
EPS from continuing operations was $4.63, compared to $3.01 a year ago, beating the consensus of $3.99.
Gross profit was $483.5 million (+36.5% Y/Y), and the margin expanded to 30.1% from 24.0% a year ago.
Building Materials business revenue was $1.53 billion (+8.9% Y/Y), and the corresponding gross profit was $461.3 million (+39.2% Y/Y).
Aggregates shipments decreased by 2.1%, while pricing increased by 15.0%, or 14.3%, on a mix-adjusted basis.
Adjusted EBITDA improved 28.3% Y/Y to ...