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Market Overview

Recap: Summit Materials Q1 Earnings

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Shares of Summit Materials (NYSE:SUM) rose in after-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share rose 31.25% year over year to ($0.33), which beat the estimate of ($0.47).

Revenue of $398,481,000 rose by 16.38% year over year, which beat the estimate of $355,000,000.

Outlook

Summit Materials Reaffirms FY21 Adj. EBITDA Guidance $490M-$520M

Technicals

Company's 52-week high was at $31.82

52-week low: $10.37

Price action over last quarter: Up 13.44%

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 35% of the firm's revenue in 2020, these higher-margin businesses constituted nearly 55% of gross profit. Summit's downstream businesses and services include asphalt, ready-mix concrete, and paving. While these constitute about 65% of revenue, their lower margins lead to gross profit contribution of roughly 45%.

 

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Posted-In: BZI-RecapsEarnings