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

Summit Materials

03/05/2024 10:18

* Summit Materials Inc  SUM.N  reported a quarterly adjusted
loss
of 12 cents​​ per share for the quarter ended in March, higher
than the same quarter last year, when the company reported EPS
of -26 cents.  The mean expectation of seventeen analysts for
the quarter was for a loss of 23 cents per share. Wall Street
expected results to range from -45 cents to -13 cents per share.
    * Revenue rose 84.9% to $805.02 million from a year ago;
analysts
expected $833.60 million. 
    * Summit Materials Inc's reported EPS for the quarter was a
loss
of 40 cents​.
    * The company reported a quarterly loss of $66.87 million.
    * Summit Materials Inc shares had fallen by 12.3% this
quarter and
gained 1.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 28% in
the last three months.​ 
    * In the last 30 days, seven analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 12 "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 $50.00 
This summary was machine generated from LSEG data May 3 at 09:17
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
 Mar. 31 2024      -0.23          -0.12          Beat
 Dec. 31 2023      0.26           0.31           Beat
 Sep. 30 2023      0.75           0.81           Beat
 Jun. 30 2023      0.58           0.71           Beat