Shares of Summit Materials SUM moved lower by 1.8% in after-market trading after the company reported Q3 results.
Quarterly Results
Earnings per share were up 10.00% over the past year to $0.55, which missed the estimate of $0.65.
Revenue of $645,246,000 declined by 3.09% year over year, which missed the estimate of $681,510,000.
Outlook
Earnings guidance hasn't been issued by the company for now.
Revenue guidance hasn't been issued by the company for now.
Technicals
Company's 52-week high was at $25.22
Company's 52-week low was at $7.51
Price action over last quarter: Up 6.38%
Company Profile
Summit Materials is a top-10 aggregates supplier and top-15 cement producer in the U.S. Founded as a roll-up strategy in 2009, the company has grown through a very active acquisition strategy. While cement and aggregates constituted about 36% of the firm's revenue in 2019, these higher-margin businesses constituted nearly 60% of gross profit. Summit's downstream businesses and services include asphalt, ready-mix concrete, and paving. While these constitute about 64% of revenue, their lower margins lead to gross profit contribution of roughly 43%.
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