Martin Marietta Materials Inc.
(NYSE:MLM) stock traded lower Thursday after the company reported second-quarter results that topped Wall Street revenue and earnings estimates and raised its full-year sales outlook.
Despite the earnings beat and higher guidance, shares fell as investors appeared concerned about potential equity dilution tied to the company's planned $13.5 billion acquisition of Lhoist North America (LNA).
Quarterly Results Revenue increased 21% year over year to $1.95 billion, beating the analyst consensus estimate of $1.87 billion.
Adjusted earnings were $5.00 per share, above analysts' estimate of $4.75.
