Martin Marietta Materials, Inc. (MLM) Q1 2023 Earnings Call Transcript

For the period ending March 31, 2023

May 4, 2023 10:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks：

Operator

Good day, and welcome to Martin Marietta's First Quarter 2023 Earnings Conference Call. [Operator Instructions] 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. Jennifer Park, Martin Marietta's Vice President of Investor Relations.

Jennifer, you may begin.

Jennifer Park

Thank you. It's my pleasure to welcome you to our first quarter 2023 earnings call. Joining me today are Ward 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 or 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 legal disclaimers contained in today's earnings release and other public filings, which are available on both our own and the Securities and Exchange Commission's website.

We have made available during this webcast and on the Investors section of our website, supplemental information that summarizes our financial results and trends. As a reminder, all financial and operating results discussed today are for continuing operations. In addition, non-GAAP measures are defined and reconciled 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 Nye will begin today's earnings call with a discussion of our operating performance. Jim Nickolas will then review our financial results and capital allocation, after which Ward will conclude with market trends and our outlook for 2023. A question-and-answer session will follow. [Operator Instructions].

I will now turn the call over to Ward.

Ward Nye

Thank you, Jenny. Welcome, everyone, and thank you for joining today's teleconference. I'm pleased to report that this year is off to a very strong start for Martin Marietta with first quarter records by nearly every measure. Given our focus on operating safely and responsibly, we're especially pleased that total and lost time incident rates were down 21% and 50%, respectively, in the first quarter.