Construction
Price
$599.42
+3.48%Market Cap
$35.99B
Day High
$600.95
Day Low
$582.11
MLM reported Q1 FY2026 revenue of $1.36B (+17.2% YoY), but gross profit declined 1.6% as cost pressures compressed margins, while net income surged to $1.51B (+1,204% YoY) driven by a large non-operating gain rather than core operating performance.
Key risk: Cost Inflation Eroding Core Margins
Cost of revenue grew 24.2% YoY versus revenue growth of 17.2%, compressing gross margin by ~430 basis points to 22.8%. If input cost inflation (fuel, labor, materials) persists, core operating profitability could continue to deteriorate even as revenues grow.
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