Martin Marietta Materials Q4 Earnings Rise, Top Estimates

(RTTNews) - Martin Marietta Materials Inc. (MLM), a producer of aggregates for the construction industry, Tuesday reported an increase in earnings for the fourth quarter primarily attributable to growth in revenue. Earnings and revenue also beat analysts' estimates.

Fourth-quarter earnings increased to $36 million, or $0.77 per share, from $21.5 million, or $0.46 per share, a year ago. On average, 11 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.70 for the quarter. Analysts' estimates typically exclude one-time items.

For the three months to December, EBITDA increased to $106.3 million from $83.4 million a year earlier.

Total revenues for the 3-month period increased to $545 million from $502.2 million a year ago. Analysts had expected the company to report revenue of $534.18 million. The company's total aggregates business revenues increased to $433.3 million from $405.4 million in the corresponding period last year.

Furthermore, the company said that it expects capital expenditures of $155 million in 2014.