BUZZ-Martin Marietta down after forecasting annual revenue, profit below estimates

Shares of building material supplier Martin Marietta Materials MLM.N down 3.4% at $511 premarket

Company forecast annual revenue and profit largely below Street estimates on softness in residential construction demand

Sees annual revenue between $6.63 billion and $7.23 billion vs. estimates of $7.22 billion - data compiled by LSEG

MLM forecast annual adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of between $2.15 billion and $2.35 billion vs. estimates of $2.34 billion

Company slightly misses Q4 revenue estimates, posts revenues of $1.63 billion vs. estimates of $1.65 billion

MLM rose 3.5% in 2024