Martin Marietta Materials, Inc. (MLM) CEO C. Howard Nye on Q1 2022 Results - Earnings Call Transcript

Call Start: 11:00 Call End: 12:00 March 1, 0000 ET

Q1 2022 Earnings Conference Call

May 3, 2022, 11:00 AM ET

Company Participants

C. Howard Nye – Chairman and Chief Executive Officer

Suzanne Osberg – Vice President of Investor Relations

James A. J. Nickolas – Senior Vice President and Chief Financial Officer

Conference Call Participants

Trey Grooms – Stephens Inc.

Kathryn Thompson – Thompson Research Group

Stanley Elliott – Stifel

Garik Schmois – Loop Capital Markets

Adam Thalhimer – Thompson Davis & Co.

Philip Edwards – Jefferies

Michael Dudas – Vertical Research Partners

Keith Hughes – Truist Securities

Timna Tanners – Wolfe Research

David S. MacGregor – Longbow Research

Courtney Yakavonis – Morgan Stanley

Brent Thielman – D.A. Davidson & Co.

Michael Feniger – Bank of America

Operator

Good morning and welcome to Martin Marietta's First-Quarter 2022 earnings conference call. All participants are now in a listen-only mode. A Q&A session will follow the company prepared remarks. As a reminder, today's call is being recorded and will be available for replay on the Company's website. I will now turn the call over to your host, Ms. Suzanne Osberg, Martin Marietta's Vice President of Investor Relations. Suzanne, you may begin.

Suzanne Osberg

Good morning. It's my pleasure to welcome you to Martin Marietta 's First Quarter 2022 Earnings Call. Joining me today are C. Howard Nye, Chairman and Chief Executive Officer, and Jim Nickolas, Senior Vice President and Chief Financial Officer. Today's discussion may include forward-looking statements as defined by United States Securities Laws in connection with future events, future operating results for financial performance. Like other businesses, Martin Marietta is subject to risks and uncertainties that could cause actual results to differ materially.

We undertake no obligation except as legally required to publicly update or revise any forward-looking statements, whether resulting from new information, future developments, or otherwise. Please refer to the legal disclaimers contained in today's earnings release and other public filings which are available on both our own and the Securities Exchange Commission's website. We've made available during this webcast and on the Investors section of our website, Q1 2022 Supplemental Information that summarizes our financial results in trends. As a reminder, all financial and operating results discussed today are for continuing operations.

In addition, non-GAAP measures are defined and reconcile to the most directly comparable GAAP measure in the appendix to the Supplemental Information, as well as our filings with the SEC and are also available on our website. Ward and I will be in today's earnings call with a discussion of our first-quarter operating performance, portfolio optimization announcements, our updated full-year guidance, and market trends. Jim Nickolas will then review our financial results and capital allocation. After which, Ward will provide some brief concluding remarks. A question-and-answer session will follow. Please limit your Q&A participation to one question. I'll now turn the call over to Ward.