Summit Materials

Summit Materials, Inc. is a construction materials company. It manufactures construction materials and related downstream products. The firm operates its business through the following segments: Cement, West and East. The Cement consists of its Hannibal, Missouri and Davenport, Iowa cement plants and distribution terminals along the Mississippi river from Minnesota to Louisiana. The West segment includes operations in Texas, Utah, Colorado, Idaho, Wyoming and Nevada and in British Columbia, Canada. The East segments serves markets extending across the Midwestern and Eastern United States, most notably in Kansas, Missouri, Virginia, Kentucky, North Carolina, South Carolina and Nebraska where the company supplies aggregates, ready mix concrete, asphalt paving mix and paving and related services. The company was founded by Thomas W. Hill on September 23, 2014 and is headquartered in Denver, CO.

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Summit Materials reports resilient 2022 performance amidst supply chain challenges

Summit Materials navigated challenges to achieve strong financial performance in 2022. The company plans to focus on margin expansion, despite supply chain issues and volume declines. Opportunities lie in strategic investments, M&A, and pricing strategies.

Summit Materials reports record Q1 results amidst pricing growth

Summit Materials delivered exceptional financial and safety performance in Q1 2023, driven by strong pricing growth and operational efficiency.
While facing challenges such as energy cost pressures and volume declines, the company is well-positioned to capitalize on residential demand trends and cost management strategies.
With a positive outlook for the year, Summit Materials aims to sustain its momentum through strategic pricing, operational excellence, and margin expansion initiatives.

Summit Materials reports strong Q2 results and eyes margin expansion

Summit Materials delivered a robust performance in Q2 2023, with strong pricing momentum and volume improvements.
Strategic acquisitions and margin expansion strategies are key strengths driving growth.
Labor challenges, competitive intensity, and cost pressures pose challenges for the company.
Opportunities lie in margin expansion, M&A growth in new regions, and growth in the asphalt segment.

Summit Materials reports record Q3 performance amidst cost challenges

Summit Materials delivered strong financial performance in Q3 2023, with record revenue and profitability driven by pricing momentum and operational excellence.
While facing challenges like residential downturns and cost pressures, the company remains focused on margin expansion, cost control, and growth opportunities.
Opportunities lie in retiring TRA liability, closing the Argos transaction, and leveraging strong pricing momentum and market demand for future growth.
With a strategic focus on synergy realization, portfolio optimization, and operational improvements, Summit Materials aims for continued success in 2024.

Summit Materials achieves record 2023 performance, eyes strong 2024 growth

Summit Materials reported exceptional financial performance in 2023, with a focus on safety and operational efficiency. The company anticipates continued growth in 2024 through synergies, operational improvements, and strategic pricing initiatives.

Summit Materials reports robust Q1 performance and strategic growth outlook

Summit Materials' strong Q1 performance and focus on operational efficiencies position the company well for 2024 growth.
Despite challenges like volume pressure and import pricing, the company's strategic strengths and opportunities offer a positive outlook.
With a materials-dominant portfolio and emphasis on synergies, Summit Materials aims for margin expansion and operational excellence in 2024.
Confidence in achieving synergies, maintaining pricing strategies, and driving growth through commercial initiatives highlight Summit Materials' strategic direction.

Summit Materials reports strong Q2 performance amidst volume challenges

Summit Materials delivered a successful Q2 with margin expansion and strategic acquisitions. Facing challenges in volume due to weather impacts and softening demand.
Confident in maintaining outlook with strong pricing execution and synergies progress. Cement pricing power expected to remain strong with opportunities for growth.
Continued focus on driving margin and EBITDA growth through controllable levers. Renegotiating agreements to catch up to market pricing in the Cement segment.

Summit Materials reports robust Q3 performance amidst weather challenges

Summit Materials' Q3 2024 performance showcased resilience and strategic progress despite weather challenges. With a focus on safety, pricing strategies, and operational improvements, the company is poised for enduring growth and margin expansion.

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Summit Materials, Inc. is a vertically integrated construction materials company, which engages in manufacturing construction materials and related downstream products. It operates through the following segments: West, East, and Cement. The West segment includes operations in Texas, Utah, Arizona, Colorado, Idaho, Wyoming, Oklahoma, Arkansas and British Columbia, Canada. The East segments refers to its East and Central regions and serves markets extending across the Midwestern and Eastern United States. The Cement segment is involved in Hannibal, Missouri and Davenport, Iowa cement plants, and distribution terminals along the Mississippi River from Minnesota to Louisiana. The company was founded by Thomas W. Hill on September 23, 2014 and is headquartered in Denver, CO.

DENVER , Jan. 9, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM, "Summit" or the "Company"), a leading vertically integrated construction materials company, is pleased to announce the appointment of Marshall Moore as EVP, Chief Operations Officer effective January 4, 2024. Moore brings to this newly created role a 35-year track record of success in manufacturing and supply chain management, business process, operational excellence, product innovation, public affairs, strategy and business development.

SUMMIT MATERIALS ENHANCES LEADERSHIP TEAM WITH APPOINTMENT OF MARSHALL MOORE AS CHIEF OPERATIONS OFFICER

DENVER , Jan. 3, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM, "Summit" or the "Company"), a leading vertically integrated construction materials company, today announced that leading proxy advisory firms, Institutional Shareholder Services ("ISS") and Glass Lewis & Co. ("Glass Lewis"), have recommended that Summit shareholders vote in favor of all proposals in connection with its pending combination with Argos North America Corp. ("Argos USA"), the U.S. operations of Cementos Argos S.A. ("Cementos Argos") at the Company's upcoming Special Meeting of Stockholders on Thursday, January 11, 2024.

Leading Independent Proxy Advisory Firms ISS and Glass Lewis Recommend Summit Materials Shareholders Vote "FOR" Pending Transaction with Cementos Argos

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NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Summit Materials, Inc. (“the Company”) (NYSE: SUM) to Cementos Argos S.A. (OTC: CMTOY). Under the terms of the proposed transaction, Cementos will receive approximately 54.7 million shares of Summit stock and approximately $1.2 billion in cash, subject to closing adjustments. Upon closing of the proposed trans.

SUMMIT MATERIALS INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Summit Materials, Inc. - SUM

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Are Investors Undervaluing Summit Materials (SUM) Right Now?

DENVER , Nov. 30, 2023 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM, "Summit") announced today that its indirect subsidiaries Summit Materials, LLC and Summit Materials Finance Corp. (the "Issuers", and, together with Summit, the "Company") finalized the terms of the previously announced offering of $800.0 million aggregate principal amount of Senior Notes due 2031 (the "notes"). Summit anticipates that consummation of the offering will occur on December 14, 2023, subject to customary closing conditions.

Summit Materials Announces Pricing of $800 Million of 7.250% Senior Notes Due 2031

DENVER , Nov. 27, 2023 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM, "Summit") announced today that its indirect subsidiaries Summit Materials, LLC and Summit Materials Finance Corp. (the "Issuers", and, together with Summit, the "Company") intend to offer $800.0 million aggregate principal amount of Senior Notes due 2031 (the "notes"). The Company intends to use the proceeds from the offering, together with borrowings under a new term loan B facility, to finance the previously announced transaction with Cementos Argos S.A.

SUMMIT MATERIALS ANNOUNCES INTENTION TO OFFER $800 MILLION OF SENIOR NOTES

Summit Materials has good growth prospects with revenue growth expected from price increases and positive demand trends in non-residential and infrastructure markets. The company's revenue increased by 8.2% YoY in Q3 2023, supported by price increases and strong demand in non-residential and infrastructure sectors. The upcoming acquisition of Argos USA is expected to diversify and expand the company's operations, contributing to revenue and margin growth.

Summit Materials: A Good Buy At Current Levels

Summit Materials, Inc. (NYSE:SUM ) Q3 2023 Earnings Conference Call November 2, 2023 11:00 PM ET Company Participants Andy Larkin - Vice President of Investor Relations Anne Noonan - President and Chief Executive Officer Scott Anderson - Executive Vice President and Chief Financial Officer Conference Call Participants Stanley Elliott - Stifel Trey Grooms - Stephens Garik Shmois - Loop Capital Markets Collin Verron - Jefferies Anthony Pettinari - Citi Kathryn Thompson - Thompson Research David MacGregor - Longbow Research Adam Thalhimer - Thompson Davis Brent Thielman - D.A. Davidson Mike Dahl - RBC Capital Markets Jerry Revich - Goldman Sachs Keith Hughes – Truist Securities Operator Hello, good morning.

Summit Materials, Inc. (SUM) Q3 2023 Earnings Call Transcript

Is Summit Materials (SUM) Stock Undervalued Right Now?

The headline numbers for Summit Materials (SUM) give insight into how the company performed in the quarter ended September 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Compared to Estimates, Summit Materials (SUM) Q3 Earnings: A Look at Key Metrics

Establishes Summit Records for Revenue and Profitability Sets Elevate Summit highs for ROIC and Adjusted EBITDA Margin Raises 2023 Guidance DENVER , Nov. 1, 2023 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company"), a leading vertically integrated construction materials company, today announced results for the third quarter ended September 30, 2023. All comparisons are versus the quarter-ended October 1, 2022 unless noted otherwise.

Summit Materials, Inc. Reports Third Quarter 2023 Results

DENVER , Oct. 24, 2023 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM, "Summit" or the "Company"), a leading vertically integrated construction materials company, today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "HSR Act"), in connection with Summit's pending combination with Argos North America Corp. ("Argos USA"), the U.S. operations of Cementos Argos S.A. ("Cementos Argos").

Summit Materials Announces Expiration of Hart-Scott-Rodino Act Waiting Period for Pending Transaction with Cementos Argos

DENVER , Oct. 23, 2023 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company"), a leading vertically integrated construction materials solutions provider, in partnership with its subsidiary Continental Cement Company, L.L.C. ("Continental Cement," "CCC"), entered into a Memorandum of Understanding ("MoU") with PCC Hydrogen, Inc. ("PCCH2"), a producer of negative carbon intensity hydrogen.

Summit Materials' Continental Cement Signs Memorandum of Understanding with PCC Hydrogen to Explore Collaborative Opportunities to Lower Carbon Emissions

Summit Materials (SUM) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.

Summit Materials (SUM) Stock Jumps 6.5%: Will It Continue to Soar?

Summit Materials is moving forward with plans to acquire the equity interests of Argos USA. The combination would create a market-leading cement producer with attractive long-term growth prospects.

Why Summit Materials Stock Jumped on Thursday

DENVER , Oct. 12, 2023 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM, "Summit" or the "Company"), a leading vertically integrated construction materials company, today announced that it will release third quarter 2023 financial results after the market closes on Wednesday, November 1, 2023. A conference call will be held on Thursday, November 2, 2023, at 11:00 a.m.

Summit Materials Announces Third Quarter 2023 Results Conference Call Date

DENVER , Oct. 10, 2023 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM, "Summit" or the "Company"), a leading vertically integrated construction materials company, today announced that Anne Noonan, Summit's President and CEO, and Scott Anderson, Summit's Executive Vice President and CFO, will discuss the combination with Argos USA with covering analyst, Trey Grooms, from Stephens. The discussion will take place during a fireside chat at 8:00 a.m.

Summit Materials to Discuss Argos Deal in Analyst-Led Fireside Chat

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Colombia-based Cementos Argos announced it will combine its North American operations, Argos North America Corp., with Summit Materials (SUM) in a cash and stock deal worth $3.2 billion. The merger will create one of the largest cement and ready-mix suppliers in the U.S.

Cementos Argos, Summit Materials Merge North American Operations in $3.2 Billion Deal

NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the merger of Summit Materials, Inc. (NYSE: SUM) and Cementos Argos S.A. is fair to Summit shareholders. Under the terms of the agreement, Cementos will receive approximately 54.7 million shares of Summit stock and approximately $1.2 billion in cash, subject to closing adjustments. Upon closing of the proposed transaction, Cementos will own approximately 31% of the combined company on a fully dilu.

SUM Stock Alert: Halper Sadeh LLC Is Investigating Whether the Merger of Summit Materials, Inc. Is Fair to Shareholders

Shares of Summit Materials Inc. SUM rallied 2.4% in premarket trading Thursday, after the cement maker announced an agreement to combine with Argos North America Corp. (Argos USA), the U.S. operations of Colombia-based Cementos Argos S.A. CMTOY CO:CEMARGOS in a cash and stock deal valued at about $3.2 billion.

Summit Materials to combine with Cementos Argos' U.S. business in a cash and stock deal valued at about $3.2 billion

ALPHARETTA, Ga.--(BUSINESS WIRE)--Cementos Argos today announced it has entered into a definitive agreement with Summit Materials, Inc. (NYSE:SUM) under which the U.S. operations of Cementos Argos, Argos North America Corp, will combine with Summit in a cash and stock transaction valued at $3.2 billion. “This combination accelerates the strategic growth plans for both Argos North America and Summit,” said Simon Bates, CEO of Argos North America. “As a result of the combination, our ability to s.

Argos North America and Summit Materials Combine to Create a Stronger Force in the U.S. Construction Materials Industry

Accelerates 'Elevate Summit' by Creating Premier Enterprise with ~$1 billion Combined EBITDA Including $100 Million of Synergies Expands Summit's Cement Footprint in Rapidly Growing, Year-Round Markets with Reduced Seasonality Enhances Scale and Ability to Meet Demand in Increasingly Capacity-Constrained U.S. Cement Market Expected to Increase Free Cash Flow per Share by 15-25% DENVER , Sept. 7, 2023 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company") is pleased to announce it has entered into a definitive agreement with Cementos Argos S.A.

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