Summit Materials, Inc. (NYSE:SUM) Q2 2022 Earnings Conference Call August 4, 2022 11:00 AM ET

Company Participants

Karli Anderson - Investor Relations

Anne Noonan - Chief Executive Officer

Brian Harris - Chief Financial Officer

Conference Call Participants

Stanley Elliott - Stifel

Trey Grooms - Stephens

Philip Ng - Jefferies

David MacGregor - Longbow Research

Garik Shmois - Loop Capital

Mike Dahl - RBC Capital Markets

Jerry Revich - Goldman Sachs

Brent Thielman - D.A. Davidson

Asher Sohnen - Citigroup

Adam Thalhimer - Thompson Davis

Brian Biros - Thompson Research Group

Operator

Ladies and gentlemen thank you for standing by. My name is Brent and I will be your conference operator today. At this time, I would like to welcome everyone to the Summit Materials Second Quarter 2022 Earnings Call. [Operator Instructions] Thank you. It is now my pleasure to turn today’s call over to Karli Anderson, EVP.

Karli Anderson

Hello and welcome to Summit Materials second quarter 2022 results conference call. Yesterday afternoon, we issued a press release detailing our financial and operating results. Today’s call is accompanied by an investor presentation and a supplemental workbook highlighting key financial and operating data. All of these materials can be found on our Investor Relations website.

Management’s commentary and responses to questions on today’s call may include forward-looking statements, which, by their nature, are uncertain and outside of Summit Materials’ control. Although these forward-looking statements are based on management’s current expectations and beliefs, actual results may differ in a material way. For a discussion of some of the factors that could cause actual results to differ, please see the Risk Factors section of Summit Materials’ latest annual report on Form 10-K, which is filed with the SEC. You can find reconciliations of the historical non-GAAP financial measures discussed on today’s call in our press release.

Anne Noonan, our CEO, will begin today’s discussion with a business update; Brian Harris, our CFO, will review our financial performance; Anne will return to discuss the path ahead, and then we will open the line for questions. [Operator Instructions]

With that, I will turn the call over to Anne.

Anne Noonan

Thank you, Karli and good morning everyone. Let’s first start with our progress on safety. Through June, we are tracking ahead on most of our safety KPIs on both a year-over-year basis and versus our internal expectations. This includes our year-to-date reportable incident rate, which is down 55% versus the comparable prior year period. And although our journey to zero harm is ongoing, I would like to thank our safety leadership and Summit employees everywhere for the collective progress we’ve made and for their commitment to living our safety-first value.