Summit Materials Inc reports results for the quarter ended in December - Earnings Summary

Summit Materials

15/02/2024 03:50

* Summit Materials Inc  SUM.N  reported quarterly adjusted
earnings of 31 cents​​ per share for the quarter ended in
December, lower than the same quarter last year, when the
company reported EPS of 32 cents.  The mean expectation of
seventeen analysts for the quarter was for earnings of 26 cents
per share. Wall Street expected results to range from 21 cents
to 32 cents per share.
    * Revenue rose 19.5% to $660.13 million from a year ago;
analysts
expected $588.79 million. 
    * Summit Materials Inc's reported EPS for the quarter was 2
cents​.
    * The company reported quarterly net income of $2.98
million.
    * Summit Materials Inc shares had fallen by 3.8% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 1.8%
in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 11 "strong buy" or "buy," 5
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the construction
materials peer group is also "buy"

Wall Street's median 12-month price target for Summit Materials
Inc is $43.00 
This summary was machine generated from LSEG data February 15 at
03:49 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.26           0.31           Beat
 Sep. 30 2023      0.75           0.81           Beat
 Jun. 30 2023      0.58           0.71           Beat
 Mar. 31 2023      -0.36          -0.26          Beat