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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Earnings data Q4 2024

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.

Summit Materials (SUM) witnesses a hammer chart pattern, indicating support found by the stock after losing some value lately. This coupled with an upward trend in earnings estimate revisions could mean a trend reversal for the stock in the near term.

Here's Why Summit Materials (SUM) Is a Great 'Buy the Bottom' Stock Now

DENVER , Aug. 22, 2023 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM, the "Company"), a leading vertically integrated construction materials company, announces that it reached an agreement with certain affiliates of Blackstone Inc. (the "Blackstone TRA Parties") that resulted in its indirect subsidiary, Summit Materials, LLC (together with the Company, "Summit") acquiring all of the rights and interest of each of the Blackstone TRA Parties under the Tax Receivable Agreement, dated as of March 11, 2015 (as amended, the "TRA"), by and among the Company, the Blackstone TRA Parties and certain other parties. In exchange for cash consideration of $115 million in the aggregate, Summit has eliminated an estimated $256 million in TRA payments payable to Blackstone between 2024 and 2039.

Summit Materials Announces Significant Step to Streamline Company Structure

Summit Materials, Inc. (NYSE:SUM ) Q2 2023 Earnings Conference Call August 3, 2023 12:00 PM ET Company Participants Andy Larkin - Vice President of Investor Relations Anne Noonan - Chief Executive Officer Scott Anderson - Chief Financial Officer Conference Call Participants Trey Grooms - Stephens Keith Hughes - Truist Garik Shmois - Loop Capital Mike Dahl - RBC Capital Markets Anthony Pettinari - Citi Phil Ng - Jefferies Adam Thalhimer - Thompson Davis Brent Thielman - D.A. Davidson David MacGregor - Longbow Research Jerry Revich - Goldman Sachs Brian Biros - Thompson Research Group Operator Good morning.

Summit Materials, Inc. (SUM) Q2 2023 Earnings Call Transcript

Summit Materials (SUM) came out with quarterly earnings of $0.71 per share, beating the Zacks Consensus Estimate of $0.60 per share. This compares to earnings of $0.59 per share a year ago.

Summit Materials (SUM) Q2 Earnings and Revenues Surpass Estimates

Second  Quarter Records established for Revenue and Profitability Achieved Elevate Summit target for ROIC Raises 2023 Guidance DENVER , Aug. 2, 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 second quarter ended July 1, 2023. All comparisons are versus the quarter-ended July 2, 2022 unless noted otherwise.

Summit Materials, Inc. Reports Second Quarter 2023 Results

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.

Should Value Investors Buy Summit Materials (SUM) Stock?

Does Summit Materials (SUM) have what it takes to be a top stock pick for momentum investors? Let's find out.

Here's Why Summit Materials (SUM) is a Great Momentum Stock to Buy

DENVER , July 13, 2023 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM, "Summit" or the "Company"), a leading vertically integrated construction materials company, today announced that it will release second quarter 2023 financial results after the market closes on Wednesday, August 2, 2023. A conference call will be held on Thursday, August 3, 2023, at 12:00 p.m.

Summit Materials Announces Second Quarter 2023 Results Conference Call Date

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4 Top Stocks to Buy Now for Solid Earnings Growth

Summit Materials Inc's revenue growth is expected to benefit from price increases and strong demand in non-residential and public infrastructure markets, offsetting a decline in residential volume. The company has managed to offset inflation and supply chain issues through price increases, and its long-term outlook is favorable due to improving business portfolio mix and cost-saving measures. Valuation is reasonable.

Summit Materials: Good Medium To Long-Term Growth Prospects

As a subset of the broader construction sector, the Concrete and Aggregates industry presents attractive growth prospects.

Construction Boom to Boost Concrete and Aggregates Stocks

Summit Materials, Inc. (NYSE:SUM ) Q1 2023 Earnings Conference Call May 4, 2023 12:00 PM ET Company Participants Andy Larkin - Vice President of Investor Relations Anne Noonan - Chief Executive Officer Scott Anderson - Chief Financial Officer Conference Call Participants Stanley Elliott - Stifel Trey Grooms - Stephens Keith Hughes - Truist Brent Thielman - D.A. Davidson Adam Thalhimer - Thompson Davis Philip Ng - Jefferies Dillon Cumming - Morgan Stanley Anthony Pettinari - Citigroup David MacGregor - Longbow Research Kathryn Thompson - Thompson Research Group Mike Dahl - RBC Capital Markets Jerry Revich - Goldman Sachs Garik Shmois - Loop Capital Markets Operator Hello.

Summit Materials, Inc. (SUM) Q1 2023 Earnings Call Transcript

Summit Materials (SUM) came out with a quarterly loss of $0.26 per share versus the Zacks Consensus Estimate of a loss of $0.38. This compares to loss of $0.40 per share a year ago.

Summit Materials (SUM) Reports Q1 Loss, Tops Revenue Estimates

Record First Quarter Net Revenue Record Quarterly Aggregates Pricing Growth Raises 2023 Adjusted EBITDA Guidance DENVER , May 3, 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 first quarter ended April 1, 2023. All comparisons are versus the quarter-ended April 2, 2022 unless noted otherwise.

Summit Materials, Inc. Reports First Quarter 2023 Results

Federal infrastructure spending should help the Zacks Building Products - Concrete & Aggregates industry players to thrive. VMC, MLM, EXP and SUM should gain from a demand surge amid high costs.

Concrete & Aggregates Industry Holds Promise: 4 Stocks to Watch

DENVER , April 13, 2023 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM, "Summit" or the "Company"), a leading vertically integrated construction materials company, today announced that it will release first quarter 2023 financial results after the market closes on Wednesday, May 3, 2023.

Summit Materials Announces First Quarter 2023 Results Conference Call Date

DENVER--(BUSINESS WIRE)--Summit Materials, Inc. (NYSE: SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company"), a leading construction materials solutions provider, in partnership with its subsidiary, Continental Cement Company, LLC ("Continental Cement," "CCC"), announced the official opening of the Davenport Cement Storage Dome, the largest cement storage dome in North America, with storage capacity of 125,000t of cement.

Summit and Continental Cement Invests in North America's Largest Cement Storage Dome in Davenport, Iowa

DENVER--(BUSINESS WIRE)--Summit Materials, Inc. (NYSE: SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company"), a leading vertically integrated construction materials company, proudly announces that its subsidiary, Continental Cement Company, LLC ("Continental Cement,” “CCC”) will host a ribbon cutting event for its new cement storage dome in Davenport, IA on March 20, 2023, at 2:00 pm central time.

Summit Materials Continental Cement Company Announces Ribbon Cutting Event for its New Cement Storage Facility

Summit Materials Inc. is a company dedicated to the production and sale of various elements for construction and is a leader in the US market. As a result of the strategy, I would be expecting product improvement, lower costs, and a larger social impact, which will most likely draw the attention of more investors.

Summit Materials Enjoys Significant Government Expenditures, And Appears Undervalued

DENVER--(BUSINESS WIRE)--Summit Materials, Inc. (NYSE: SUM) (“Summit,” “Summit Materials,” “Summit Inc.” or the “Company”), a leading vertically integrated construction materials company, announces that its subsidiary, Continental Cement Company, LLC (“Continental Cement”) has successfully completed negotiations with the United Steelworkers Local 11-205 (“Union”) on a new, mutually agreeable Collective Bargaining Agreement (“CBA”) at its Hannibal, Missouri, cement plant.

Summit Materials Continental Cement Company Successfully Concludes Negotiations of New Collective Bargaining Agreement with Union Employees at its Hannibal Plant

DENVER--(BUSINESS WIRE)--Summit Materials, Inc. (NYSE: SUM, “Summit” or the “Company”), a leading vertically integrated construction materials company, is pleased to announce the appointment of Scott Anderson as its new Executive Vice President and Chief Financial Officer (CFO), effective March 1, 2023. Anderson brings to the role a wealth of experience in finance and operations, as well as a demonstrated commitment to the Summit strategy and the Company's mission, vision, and values.

Summit Materials Announces Scott Anderson as New Chief Financial Officer

Summit Materials, Inc. (NYSE:SUM ) Q4 2022 Earnings Conference Call February 16, 2023 1:00 PM ET Company Participants Andy Larkin - VP, IR Anne Noonan - CEO Brian Harris - CFO Conference Call Participants Trey Grooms - Stephens Inc. Kathryn Thompson - Thompson Research Group Keith Hughes - Truist Securities Anthony Pettinari - Citi Jerry Revich - Goldman Sachs Brent Thielman - D.A. Davidson Garik Shmois - Loop Capital Joe Nolan - Longbow Research Mike Dahl - RBC Capital Markets Adam Thalhimer - Thompson Davis Phil Ng - Jefferies Operator At this time I'd like to welcome everyone to the Summit Materials Q4 22022 Earnings Call.

Summit Materials, Inc. (SUM) Q4 2022 Earnings Call Transcript

Summit Materials (SUM) delivered earnings and revenue surprises of 10.34% and 7.84%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Summit Materials (SUM) Q4 Earnings Top Estimates

DENVER--(BUSINESS WIRE)--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 fourth quarter and full year ended December 31, 2022. All comparisons are versus the quarter ended January 1, 2022 unless noted otherwise.     Three months ended   Year ended ($ in thousands , except per share amounts)   December 31, 2022   January 1, 2022   % Chg vs.

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