Martin Marietta Materials Inc (MLM) Q4 2019 Earnings Call Transcript

Martin Marietta Materials Inc (MLM) Q4 2019 Earnings Call Transcript

Good morning, ladies and gentlemen, and welcome to Martin Marietta's Fourth Quarter and Full year 2019 Earnings Conference Call.. With me today are Ward Nye, Chairman and Chief Executive Officer; and Jim Nickolas, Senior Vice President and Chief Financial Officer.. Unless otherwise noted, all financial and operating results discussed today are for the full year 2019.. We will begin today's earnings call with Ward Nye, who initially will discuss our full year operating performance.. For the year, consolidated total revenues increased 12% to $4.7 billion.. Our 2019 results marked the eighth consecutive year of growth in these financial metrics.. We're proud to have achieved world-class lost time instant rate levels companywide for the third consecutive year.. Now let's take a deeper dive into the full year operating performance for each of our product offerings.. Aggregate shipments increased to 12% to 191 million tons, exceeding our original 2019 guidance for volume growth of 6% to 8%.. For the first time in four years, aggregate shipments to all three primary end-use markets increased, reflecting improved strength in public and private sector spending in our markets.. Our Cement operations established new full year records for volumes and gross profits.. I'll now turn the