-- 独立系調査会社CFRAは、に対し、以下の調査レポートを提供しました。CFRAのアナリストは、以下のように見解をまとめています。MLMは、2026年第1四半期に過去最高の売上高13億6,200万ドル（前年同期比17%増）、調整後EPS1.93ドル（前年同期比14%増）、調整後EBITDA3億6,400万ドル（前年同期比14%増）を達成しましたが、収益性指標はポートフォリオ最適化の複雑さを反映しています。骨材出荷量は過去最高の4,390万トン（前年同期比12%増）に達しましたが、買収費用とインフレの影響で、1トン当たりの粗利益は14%減の6.56ドルとなりました。骨材はセメントや生コンクリートに比べて価格決定力が強いため、2月に完了したQUIKRETEの資産交換と骨材重視戦略は賢明な判断だと考えています。経営陣は、2026年通期のガイダンスを再確認し、調整後EBITDAの中間値を24億3,000万ドルとしました。この目標達成には実行リスクが伴うと見ており、第2四半期から第4四半期にかけて調整後EBITDAが四半期平均6億8,900万ドル（2025年比+5.9%）となる必要がある。売上高が17%増加する一方で営業利益が9%減少するという懸念すべき状況は、期待される営業レバレッジの逆転現象を示している。
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