Shares of Summit Materials SUM rose in after-market trading after the company reported Q1 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.
Summit Materials Reaffirms FY21 Adj. EBITDA Guidance $490M-$520M
Company's 52-week high was at $31.82
52-week low: $10.37
Price action over last quarter: Up 13.44%
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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