Martin Marietta Materials, Inc. (NYSE:MLM) Q4 2022 Earnings Call Transcript

Ward Nye: Yes, no, that’s a great question. Thank you, Rohit. So, I would say could say several things. One, the customer acceptance of the price increases has been good. So let’s start with that. So we’ve seen widespread. They understand it, they’ve seen their own input pressures. They know that we’re feeling it. So number one, it’s been well received. Number two, you’re right. But keep in mind, we treat our business the same way that we treat outside businesses to the extent that we’re downstream. So we know what that’s obviously going to look like. Number three, to your point on whether there’s any mix issues. I would say that I mentioned during the course of the dialog I was having earlier with respect to backlogs. These backlog is nicely up year-over-year.

Southwest backlog is equally nicely up year-over-year. East from at least a mix perspective are some of our highest margins markets, so to the extent that that business continues to go an attractive way. That could certainly be a help relative to mix. Obviously, more to come. It’s early. I indicated, that’s typically 25% to 30% of a full year’s volume. So more to come, but I hope that answers your question, Rohit?

Rohit Seth: It does. Thank you. Thank you.

Operator: Thank you. I’m showing no further questions at this time, I’d like to hand the call back over to Ward Nye for closing remarks.

Ward Nye: Well, again. Thank you all so much for joining today’s earnings conference call. Martin Marietta’s track record of success through various business cycles proves the resiliency and durability of our aggregates-led business model. We continue to strive for the safest operations and remain focused on executing our strategic plan, while continuing to drive attractive and sustainable growth in 2023 and beyond. We look forward to sharing our first quarter 2023 results in the spring. As always, we’re available for any follow-up questions that you may have. Thank you again for your time and your continued support of Martin Marietta.

Operator: This concludes today’s conference call. Thank you all for your participation. You may now disconnect.