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

Summit Materials

05/08/2024 23:32

* Summit Materials Inc  SUM.N  reported quarterly adjusted
earnings of 66 cents​​ per share for the quarter ended in
January, lower than the same quarter last year, when the company
reported EPS of 71 cents.  The mean expectation of
seventeen analysts for the quarter was for earnings of 61 cents
per share. Wall Street expected results to range from 55 cents
to 69 cents per share.
    * Revenue rose 53.4% to $1.12 billion from a year ago;
analysts
expected $1.17 billion. 
    * Summit Materials Inc's reported EPS for the quarter was 60
cents​.
    * The company reported quarterly net income of $106.08
million.
    * Summit Materials Inc shares had risen by 5.8% this
quarter and
gained 0.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 14.6%
in the last three months.​ 
    * In the last 30 days, nine analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 13 "strong buy" or "buy," 4
"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 $48.50 
This summary was machine generated from LSEG data August 5 at
10:32 p.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
 Jun. 30 2024      0.61           0.66           Beat
 Mar. 31 2024      -0.23          -0.12          Beat
 Dec. 31 2023      0.26           0.31           Beat
 Sep. 30 2023      0.75           0.81           Beat