Aggregates shipments increased by 6.6% to 39.0 million tons, driven by contributions from acquisitions and the abatement of severe winter weather in March. Organic shipments increased double digits in key Sunbelt markets.

The Company repurchased 910,831 shares of common stock at an average price of $494.04 and an aggregate cost of $450 million during the first three months of 2025. 11.0 million shares remain under the Company's repurchase authorization.

Service revenues, which include paving services located in California and Colorado, were $36 million and $26 million for the three months ended March 31, 2025 and 2024, respectively, and reported in the West Group.

The average selling price (ASP) for aggregates increased 6.8% to $23.77 per ton, inclusive of acquired operations, indicating successful pricing strategies.

The Company has deferred income tax payments of $102 million under the disaster tax relief provision for North Carolina businesses affected by Hurricanes Debby and Helene, demonstrating proactive management of tax obligations.

Management, including the CEO and CFO, concluded that the Company's disclosure controls and procedures were effective as of March 31, 2025, ensuring reliable financial reporting.

The Building Materials business is significantly affected by weather patterns, seasonal changes and other climate-related conditions. Severe winter weather in January and February across many Southeast, Southwest and Midwest markets partially offset aggregates shipment increases.

The Company's operations are highly dependent upon the interest rate-sensitive construction and steelmaking industries, which could experience lower levels of economic activity in an environment of rising interest rates or escalating costs.

Energy costs, including diesel fuel, natural gas, electricity, coal and petroleum coke, represent significant production costs of the Company, and the Company may be unable to pass along increases in the costs of energy to customers.

Aggregates gross profit increased 24% to $297 million and gross margin expanded 260 basis points to 30%, driven by organic price/cost improvement and margin-accretive acquisitions.

Magnesia Specialties first-quarter revenues of $87 million increased 8% and gross profit increased 33% to $38 million, due to pricing improvement and continued cost discipline.

At March 31, 2025, there were no amounts outstanding under the Trade Receivable Facility or under the Revolving Facility, and the Company had $1.2 billion of unused borrowing capacity under its Revolving Facility and Trade Receivable Facility.

Consolidated SG&A for the first quarter of 2025 was 9.6% of revenues compared with 9.5% in the prior-year quarter, indicating a slight decrease in efficiency.

Aggregates gross profit per ton increased 16% to $7.60, showing improved profitability in the aggregates segment.

Cement and ready mixed concrete revenues decreased 12% to $233 million compared with the prior-year quarter due to the February 2024 divestiture of the South Texas cement plant and related concrete operations, winter weather in February 2025 and slower residential demand.

The 10-Q filing does not explicitly detail any specific R&D investments or technological innovations during the quarter.

The company states as a risk factor the 'proper functioning of information technology and automated operating systems to manage or support operations'.

The Company repurchased 910,831 shares of common stock at an average price of $494.04 and an aggregate cost of $450 million during the first three months of 2025. 11.0 million shares remain under the Company's repurchase authorization.

During the three months ended March 31, 2025 and 2024, the Company paid $233 million and $200 million, respectively, for additions to property, plant and equipment.

The filing references mine safety disclosures, indicating attention to safety and regulatory compliance.

The company states as a risk factor 'Governmental regulation, including environmental laws and climate change regulations at both the state and federal levels'.

The Building Materials business is significantly affected by weather patterns, seasonal changes and other climate-related conditions. Production and shipment levels for aggregates, cement, ready mixed concrete and asphalt materials correlate with general construction activity levels, most of which occur in the spring, summer and fall.

The Company's operations are highly dependent upon the interest rate-sensitive construction and steelmaking industries. Consequently, these marketplaces could experience lower levels of economic activity in an environment of rising interest rates or escalating costs.

Aggregates shipments to the infrastructure market increased 3% quarter-over-quarter. Aggregates shipments to the nonresidential market increased 6%. Aggregates shipments to the residential market increased 10%.