Martin Marietta Materials (NYSE: MLM) reported Q1 EPS of $0.67, $0.22 better than the analyst estimate of $0.45. Revenue for the quarter came in at $791.7 million, versus $726 million reported last year.

FULL-YEAR 2017 OUTLOOK

The Company is encouraged by positive trends in the markets it serves and its ability to execute its strategic business plans. Notably:

• Public sector growth is expected to continue in 2017 as new monies flow into the system. FAST Act projects should accelerate through the year, supported by ongoing activity funded through the Transportation Infrastructure Finance and Innovation Act (TIFIA). Additionally, state and local initiatives increasing infrastructure funding, including ballot initiatives passed over the past 24 months, are expected to grow and continue to play an expanded role in public-sector activity.
• Nonresidential construction is expected to modestly increase in both the heavy industrial and commercial sectors. The Dodge Momentum Index is at its highest level since 2009, signaling continued growth. Additional energy-related economic activity, including follow-on public and private construction, will be mixed. While $47 billion of new energy-related projects are scheduled to start in 2017 and 2018, the certainty and timing of commencement will affect nonresidential growth.
• Residential construction is expected to continue growing, particularly in key Martin Marietta markets, driven by employment gains, historically low levels of construction activity over the previous years, low mortgage rates, higher lot development, and higher multi-family rental rates.

Based on these trends and expectations, including a return to more normal weather patterns, the Company anticipates achieving the following for the full year:

• Aggregates product line end-use markets compared with 2016 levels are as follows:
  • Infrastructure market to increase mid-single digits.
  • Nonresidential market to increase in the low- to mid-single digits.
  • Residential market to increase in the mid- to high-single digits.
  • ChemRock/Rail market to remain stable.

1 2017 consolidated net sales exclude $390 million related to estimated intersegment sales.

2 Represents 2017 total aggregates volumes, which includes approximately 11.6 million internal tons. Volume growth ranges are in comparison to total volumes of 158.6 million tons as reported for the full year 2016, which includes 10.4 million internal tons.

For earnings history and earnings-related data on Martin Marietta Materials (MLM) click here.