Rock quarry operator Martin Marietta Materials Inc.. saw its stock fall by more than 7 percent on Tuesday after it reported second-quarter earnings that fell below Wall Street expectations.

The Raleigh-based company reported net income of $212.9 million, or $2.25 per share, up 111.5 percent from net income of $190.8 million, or $1.90 per share, according to a filing Tuesday with the Securities and Exchange Commission. Analysts were expecting earnings of $2.38 per share.

Martin Marietta Materials recently announced its acquisition of Bluegrass Materials Co., the largest privately-held, pure-play aggregates company in the United States, for $1.625 billion in cash. Bluegrass operates 23 quarries in Georgia, South Carolina, Tennessee, Maryland and Kentucky.

“We overcame challenging operating conditions in several key states, as near-record levels of precipitation in North Carolina, South Carolina, Georgia and Florida negatively impacted aggregates shipments and operating efficiencies in our historically most profitable geographic areas,” said Chief Executive Officer Ward Nye in a statement.

The company’s stock fell $15.95, or 7.05 percent, to $210.68 in Thursday afternoon trading.

Revenue for the quarter was $996.3 million, which was slightly below analyst estimates of $1.01 billion. Revenue in the second quarter of 2016 was $915.4 million.

Martin Marietta Materials, which has operations in 26 states, said it projects revenue for the year to be between $3.75 billion and $3.95 billion.