Martin Marietta Materials Q2 Profit Up

(RTTNews) - Martin Marietta Materials, Inc. (MLM), Tuesday reported an increase in net income for the second quarter, reflecting higher sales, driven by the pricing growth in aggregate product line and solid performance at its Specialty Products.

Net earnings attributable to Martin Marietta Materials were $41.3 million or $0.89 per share, compared with $36.8 million or $0.80 per share during the corresponding quarter last year.

On average, eleven analysts polled by Thomson Reuters expected the company to report earnings of $1.13 per share for the quarter. Analysts' estimates typically exclude one-time items.

Total revenues for the three-month period were $562.7 million, increased from $545.7 million during the same quarter last year. The Street had estimated the company to generate revenues of $596.80 million.

For the full year 2013, Martin Marietta sees aggregates product line pricing increasing 2-4 percent. The company also expects its   vertically integrated businesses to report  $350 million to $375 million of net sales.