Analyst Consensus ?
ConsensusBuy38 ratings
Bullish2565.8%
Neutral1334.2%
Bearish00.0%
Martin Marietta Materials, Inc. · MLM · FY2026 Q2 · Calendar Q3 2026
Martin Marietta raises revenue outlook amid strong Q2 and M&A expansion
Martin Marietta's Q2 analysis supports a constructive operating trajectory: strong infrastructure and non-residential demand, raised revenue guidance, cash-flow improvement opportunities, and strategic M&A broaden the growth platform. The case remains dependent on integration, energy-cost control, weather, and funding conditions.
Reported Before market openNYSEBasic Materials
$29.99B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$5.00
Consensus $4.76
EPS surprise
+5.0%
Reported versus consensus
Reported revenue
$1.95B
Consensus $1.87B
Revenue surprise
+4.1%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-5.2%
Event window
SPY move
+1.7%
Same window
Abnormal move
-6.9%
Stock minus SPY
Volume
2.1×
Versus trailing sessions
Subsequent drift
-2.1%
Up to 20 sessions
MLMSPY benchmark
Ask FN2 about MLM FY2026 Q2
Transcript, numbers and history already loaded
Why did MLM fall 5.2% after beating EPS estimates in FY2026 Q2?What changed in MLM's guidance and outlook in FY2026 Q2?Give me the bull and bear case for MLM after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, Martin Marietta completed the New Frontier Materials acquisition, announced a pending Lhoist North America combination, raised full-year revenue guidance, and added a quantified $350 million run-rate pretax cash-flow improvement opportunity.
Guidance delta
Management raised full-year revenue guidance to $7.2-$7.4 billion and reaffirmed its EBITDA outlook.
Key takeaways
- Record Q2 performance supported by infrastructure and non-residential construction demand.
- New Frontier Materials is complete; the Lhoist North America combination remains pending.
- Management identified approximately $350 million of run-rate pretax cash-flow improvement opportunities.
- The company targets deleveraging to investment-grade levels within 24 months while pursuing disciplined growth.
Management priorities
- Close and integrate the Lhoist North America combination.
- Integrate New Frontier Materials and capture its pricing contribution.
- Scale Precise IQ and expand the network-optimization pilot.
- Pursue bolt-on aggregate acquisitions while maintaining investment-grade credit.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$499.34Previous close
$380Low
$605.97Average
$785High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Sep 23, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Overweight | Overweight | Maintain | Sep 21, 2026 |
| JP Morgan | Overweight | Neutral | Upgrade | Sep 2, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Aug 28, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Aug 13, 2026 |
| UBS | Buy | Buy | Maintain | Aug 3, 2026 |
| Citigroup | Buy | Buy | Maintain | Aug 3, 2026 |
| Stephens & Co. | Overweight | Overweight | Maintain | Jul 31, 2026 |
| Raymond James | Outperform | Outperform | Maintain | Jul 15, 2026 |
| Truist Securities | Buy | Buy | Maintain | May 4, 2026 |
| B. Riley Securities | Buy | Neutral | Upgrade | Apr 2, 2026 |
| Barclays | Overweight | Overweight | Maintain | Mar 31, 2026 |
| Jefferies | Buy | Buy | Maintain | Feb 12, 2026 |
| Loop Capital | Hold | Buy | Downgrade | Jan 28, 2026 |
| DA Davidson | Neutral | Buy | Downgrade | Jan 14, 2026 |
| Stifel | Buy | Buy | Maintain | Nov 11, 2025 |
| B of A Securities | Neutral | Neutral | Maintain | Aug 5, 2025 |
| Goldman Sachs | Buy | Buy | Maintain | Apr 16, 2024 |
| Seaport Global | Buy | Buy | Maintain | Mar 12, 2024 |
| Wolfe Research | Peer Perform | Outperform | Downgrade | Mar 8, 2024 |
| HSBC | Hold | Reduce | Upgrade | Feb 22, 2024 |
| Atlantic Equities | Neutral | Overweight | Downgrade | Jan 24, 2023 |
| BMO Capital | Market Perform | Outperform | Downgrade | Nov 10, 2022 |
| Exane BNP Paribas | Outperform | Neutral | Upgrade | Sep 20, 2022 |
| Deutsche Bank | Buy | Hold | Upgrade | Oct 8, 2020 |
| ScotiaBank | Sector Perform | Sector Perform | Maintain | Sep 22, 2020 |
| CFRA | Buy | Buy | Maintain | May 6, 2020 |
| Nomura | Buy | Buy | Maintain | Apr 17, 2020 |
| Stephens& Co. | Equal Weight | Overweight | Downgrade | Feb 23, 2020 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Oct 30, 2019 |
| Stifel Nicolaus | Buy | Buy | Maintain | Oct 30, 2019 |
| Bank of America | Neutral | Underperform | Upgrade | Oct 15, 2019 |
| Longbow Research | Buy | Buy | Maintain | Jul 31, 2019 |
| Berenberg | Hold | Hold | Maintain | Apr 3, 2019 |
| Cleveland Research | Buy | Neutral | Upgrade | Mar 31, 2017 |
| BB&T Capital | Buy | Hold | Upgrade | Jul 17, 2015 |
| Susquehanna | Positive | Neutral | Upgrade | May 13, 2015 |
| Sterne Agee | Buy | Buy | Maintain | Oct 8, 2012 |
| Keybanc | Hold | Buy | Downgrade | Sep 25, 2012 |
Named analyst price targets
Upside is calculated against the persisted previous close $499.34. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Wells Fargo | Analyst unavailable | $585 | $490.64 | +17.2% | Sep 21, 2026 |
| Wells Fargo | Timna Tanners | $609 | $511.98 | +22.0% | Sep 9, 2026 |
| RBC Capital | Analyst unavailable | $620 | $528.32 | +24.2% | Aug 28, 2026 |
| D.A. Davidson | Analyst unavailable | $625 | $533.11 | +25.2% | Aug 24, 2026 |
| Morgan Stanley | Analyst unavailable | $639 | $543.9 | +28.0% | Aug 13, 2026 |
| Wolfe Research | Analyst unavailable | $648 | $543.74 | +29.8% | Aug 4, 2026 |
| RBC Capital | Analyst unavailable | $610 | $537.46 | +22.2% | Aug 3, 2026 |
| UBS | Analyst unavailable | $715 | $525.14 | +43.2% | Aug 3, 2026 |
| Raymond James | Analyst unavailable | $660 | $534.08 | +32.2% | Jul 31, 2026 |
| Stephens | Analyst unavailable | $680 | $540 | +36.2% | Jul 31, 2026 |
| Raymond James | Analyst unavailable | $675 | $573.75 | +35.2% | Jul 15, 2026 |
| Wells Fargo | Timna Tanners | $616 | $594.17 | +23.4% | Jul 8, 2026 |
| Berenberg Bank | Analyst unavailable | $556 | $570.96 | +11.3% | Jun 2, 2026 |
| UBS | Analyst unavailable | $739 | $590.38 | +48.0% | May 10, 2026 |
| Truist Financial | Analyst unavailable | $730 | $606.92 | +46.2% | May 4, 2026 |
| RBC Capital | Anthony Codling | $615 | $607.34 | +23.2% | May 4, 2026 |
| Raymond James | Analyst unavailable | $690 | $615.66 | +38.2% | Apr 27, 2026 |
| Wells Fargo | Analyst unavailable | $608 | $630.8 | +21.8% | Apr 15, 2026 |
| Morgan Stanley | Analyst unavailable | $702 | $612.52 | +40.6% | Mar 9, 2026 |
| Jefferies | Philip Ng | $785 | $678.46 | +57.2% | Feb 26, 2026 |
| RBC Capital | Anthony Codling | $630 | $678.46 | +26.2% | Feb 26, 2026 |
| Morgan Stanley | Angel Castillo | $706 | $654 | +41.4% | Feb 17, 2026 |
| RBC Capital | Analyst unavailable | $575 | $679.83 | +15.2% | Feb 13, 2026 |
| Stephens | Analyst unavailable | $735 | $673.25 | +47.2% | Feb 13, 2026 |
| Truist Financial | Keith Hughes | $710 | $662.94 | +42.2% | Feb 12, 2026 |
| D.A. Davidson | Analyst unavailable | $680 | $655.84 | +36.2% | Feb 12, 2026 |
| Wells Fargo | Analyst unavailable | $631 | $650.23 | +26.4% | Jan 29, 2026 |
| Loop Capital Markets | Analyst unavailable | $690 | $649.25 | +38.2% | Jan 28, 2026 |
| Morgan Stanley | Analyst unavailable | $690 | $633.37 | +38.2% | Dec 22, 2025 |
| Jefferies | Philip Ng | $730 | $628.44 | +46.2% | Dec 15, 2025 |
| Morgan Stanley | Analyst unavailable | $660 | $622.55 | +32.2% | Dec 1, 2025 |
| UBS | Steven Fisher | $723 | $606.07 | +44.8% | Nov 7, 2025 |
| D.A. Davidson | Analyst unavailable | $690 | $602.07 | +38.2% | Nov 6, 2025 |
| Barclays | Adam Seiden | $675 | $625.4 | +35.2% | Oct 20, 2025 |
| Wells Fargo | Timna Tanners | $620 | $629.61 | +24.2% | Oct 7, 2025 |
| Stephens | Analyst unavailable | $700 | $602.32 | +40.2% | Aug 4, 2025 |
| UBS | Steven Fisher | $491 | $484.97 | -1.7% | Apr 7, 2025 |
| Loop Capital Markets | Garik Shmois | $680 | $604.85 | +36.2% | Oct 31, 2024 |
| Loop Capital Markets | Garik Shmois | $600 | $537.78 | +20.2% | Oct 1, 2024 |
| Loop Capital Markets | Garik Shmois | $615 | $525.11 | +23.2% | Aug 13, 2024 |
| Citigroup | Anthony Pettinari | $646 | $533.55 | +29.4% | Aug 12, 2024 |
| Stephens | Trey Grooms | $610 | $538.98 | +22.2% | Aug 9, 2024 |
| Bank of America Securities | Timna Tanners | $575 | $538.98 | +15.2% | Aug 9, 2024 |
| Jefferies | Philip Ng | $665 | $577.46 | +33.2% | Jul 17, 2024 |
| D.A. Davidson | Brent Thielman | $675 | $583.1 | +35.2% | May 20, 2024 |
| HSBC | Wesley Brooks | $543 | $536.3 | +8.7% | Feb 22, 2024 |
| Seaport Global | Rohit Seth | $520 | $414.72 | +4.1% | Oct 24, 2023 |
| Morgan Stanley | Analyst unavailable | $399 | $368.73 | -20.1% | Dec 14, 2022 |
| J.P. Morgan | Analyst unavailable | $395 | $352.5 | -20.9% | Dec 8, 2022 |
| Raymond James | Patrick Tyler Brown | $380 | $337.16 | -23.9% | Nov 6, 2022 |
| J.P. Morgan | Analyst unavailable | $410 | $329.27 | -17.9% | Sep 22, 2022 |
| Raymond James | Patrick Tyler | $410 | $367.55 | -17.9% | Aug 18, 2022 |
| Morgan Stanley | Analyst unavailable | $420 | $352.5 | -15.9% | Aug 1, 2022 |
| Morgan Stanley | Analyst unavailable | $394 | $314.72 | -21.1% | Jul 18, 2022 |
| Wolfe Research | Analyst unavailable | $384 | $309.69 | -23.1% | Jul 14, 2022 |
| D.A. Davidson | Brent Thielman | $375 | $299.24 | -24.9% | Jul 1, 2022 |
| Morgan Stanley | Analyst unavailable | $443 | $343.08 | -11.3% | May 6, 2022 |
| Stephens | Analyst unavailable | $455 | $359.89 | -8.9% | May 5, 2022 |
| Berenberg Bank | Daniel Wang | $389 | $378.28 | -22.1% | Sep 2, 2021 |
| J.P. Morgan | Adrian Huerta | $385 | $365.89 | -22.9% | May 26, 2021 |
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Start freeCompany context
Snapshot as of publicationMartin Marietta Materials, Inc. functions as a company specializing in natural resource-derived building materials. This enterprise delivers a wide range of aggregates and other heavy construction components to the building industry, serving both domestic and international markets. Its product portfolio includes foundational raw materials like crushed stone, sand, and gravel, in addition to manufactured items such as ready-mix concrete, asphalt, and comprehensive paving solutions.…
Historical context
All MLM earningsBasic Materials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| HMY Harmony Gold Mining Company Limited | FY2026 Q4 · Calendar Q3 2026 | 0.0% | -6.2% | Harmony Gold posts record FY2026 while Eva Copper risks remain |
Latest beats and misses
Who reports nextBeat on EPS
- AZOFY2026 Q4 · September 22, 2026+3.6% EPS+3.3% move
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
Get the MLM recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-07-30T22:17:41.662608+00:00
- FN2 earnings calendar · 2026-09-04T01:23:15.205020+00:00
- Polygon adjusted daily market bars · 2026-09-23T09:50:55.042083+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-23T09:50:55.039076+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-23. For educational purposes only; not investment advice.