Despite a slowdown in infrastructure spending and rising fuel costs, Martin Marietta Materials reported solid third-quarter earnings Tuesday.
The company, which produces rock, gravel and other materials used to build roads, subdivisions and commercial buildings, had sales of $464 million for the quarter that ended Sept. 30, up 4.6 percent from the same period in 2010.
Excluding one-time charges, the company reported earnings per share of $1.11. That was above the $1.09 a share that was the consensus among analysts who follow the company.
Martin Marietta now expects to ship anywhere from 2 to 4 percent fewer materials in 2011 than it did a year ago. The company’s fuel costs for the quarter rose 16 percent.