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Achieved record first-quarter revenues of $1.4 billion, driven by organic aggregate shipment growth of 7.2% that significantly exceeded internal guidance.

Performance was bolstered by an early construction season start in the Midwest and Colorado, alongside sustained demand for infrastructure and heavy nonresidential projects.

Completed the Quikrete Asset Exchange, the largest aggregates acquisition in company history, which strategically shifts the portfolio away from cyclical cement and concrete toward durable aggregates.

Reported that the Quikrete integration is ahead of schedule, with initial results exceeding EBITDA and margin expectations while providing $450 million in cash for further redeployment.

Attributed a slight decline in reported aggregates gross profit to geographic mix, as high-volume growth in the Central and West divisions offset higher-margin contributions from the East and Southwest.

Maintained operational discipline through the strongest first-quarter safety performance in company history, reinforcing the 'one culture' framework during leadership transitions.

Reaffirmed full-year 2026 adjusted EBITDA guidance of $2.43 billion at the midpoint, excluding contributions from the pending New Frontier Materials acquisition.

Anticipates shipments will trend toward the higher end of the annual guide based on strong April demand and a robust pipeline of heavy nonresidential projects.

Expects a higher realization of midyear price increases compared to the prior year to offset inflationary pressures, particularly rising diesel costs.

Assumes infrastructure demand remains stable despite potential legislative delays, as state DOTs maintain multiyear visibility and high spending authority.

Projects $50 million in synergies from the Quikrete transaction over the coming years as unit profitability is normalized across the new assets.

Entered a definitive agreement to acquire New Frontier Materials, adding 8 million tons of annual aggregate capacity along the strategic I-70 corridor.

Recognized a noncash $22 million charge in the first quarter related to the fair market value step-up of Quikrete inventory, with $44 million remaining to be processed in Q2.

Identified a $36 million headwind for the aggregates business ($50 million total company) due to diesel price volatility, primarily weighted toward the second quarter.

Noted that affordability pressures from high interest rates continue to suppress activity in the light nonresidential and residential construction sectors.

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Management expects to consume approximately 55 million gallons of diesel this year, with price peaks anticipated in Q2 before moderating.

Confidence in the full-year guide is supported by the expectation that midyear price increases will be more broad-based and see higher realization than the historical 25% average.

Management does not expect a short-term continuing resolution (CR) to disrupt 2026 activity, as federal highway funds would continue flowing at currently high levels.

Noted that nearly half of the funding from the current IIJA remains undistributed, providing a significant multiyear tailwind for core infrastructure projects.

The pipeline remains active with a focus on pure-play aggregates; management has identified 300 million tons of annual capacity in 'SOAR-aligned' markets for potential acquisition.

Future deals will likely feel like 'bolt-ons' geographically but may have the financial scale of platform transactions, reducing the risk of entering unfamiliar territories.

Heavy nonresidential growth is increasingly diversified, with data center volumes up 62% and warehousing up 57% in the quarter.

Significant momentum is building in projects along the Gulf Coast, with a pipeline of LNG and other potential projects estimated to require over 33 million tons of aggregates.

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