Martin Marietta reports Q4 adjusted EPS $3.04, consensus $3.07

Reports Q4 revenue $1.48B, consensus $1.44B. CEO Ward Nye stated, "2022 marked our company’s eleventh consecutive year delivering increased products and services revenues, gross profit and Adjusted EBITDA, as well as our most profitable year ever. We achieved record financial results and world-class safety incidence rates while also seamlessly integrating a large platform acquisition and completing non-core asset divestitures against a backdrop of rapid monetary tightening, a resulting housing slowdown, and cost inflation at 40-year highs…Moreover, in a notably weather-impacted Q4, our team nonetheless expanded aggregates margins and increased gross profit per shipped ton by 25% over the prior-year quarter. These successes were underscored by an all-time quarterly record of aggregates pricing growth and position our company well to deliver another record year in 2023. Entering 2023, near-term product demand visibility is supported by healthy customer backlogs driven by an acceleration in public infrastructure investment and announced large-scale energy and domestic manufacturing projects…In total, we expect full year 2023 aggregates shipments to be relatively flat but, given the carryover effects of our 2022 commercial actions and broad acceptance of our January 1, 2023 price increases, we are confident in our ability to continue to deliver accelerated margin expansion…"