Summit Materials

Summit Materials, Inc. is a construction materials company. It manufactures construction materials and related downstream products. The firm operates its business through the following segments: Cement, West and East. The Cement consists of its Hannibal, Missouri and Davenport, Iowa cement plants and distribution terminals along the Mississippi river from Minnesota to Louisiana. The West segment includes operations in Texas, Utah, Colorado, Idaho, Wyoming and Nevada and in British Columbia, Canada. The East segments serves markets extending across the Midwestern and Eastern United States, most notably in Kansas, Missouri, Virginia, Kentucky, North Carolina, South Carolina and Nebraska where the company supplies aggregates, ready mix concrete, asphalt paving mix and paving and related services. The company was founded by Thomas W. Hill on September 23, 2014 and is headquartered in Denver, CO.

Earnings data Q1 2021

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Earnings data Q1 2024

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Earnings data Q3 2024

Earnings data Q4 2024

Summit Materials reports resilient 2022 performance amidst supply chain challenges

Summit Materials navigated challenges to achieve strong financial performance in 2022. The company plans to focus on margin expansion, despite supply chain issues and volume declines. Opportunities lie in strategic investments, M&A, and pricing strategies.

Summit Materials reports record Q1 results amidst pricing growth

Summit Materials delivered exceptional financial and safety performance in Q1 2023, driven by strong pricing growth and operational efficiency.
While facing challenges such as energy cost pressures and volume declines, the company is well-positioned to capitalize on residential demand trends and cost management strategies.
With a positive outlook for the year, Summit Materials aims to sustain its momentum through strategic pricing, operational excellence, and margin expansion initiatives.

Summit Materials reports strong Q2 results and eyes margin expansion

Summit Materials delivered a robust performance in Q2 2023, with strong pricing momentum and volume improvements.
Strategic acquisitions and margin expansion strategies are key strengths driving growth.
Labor challenges, competitive intensity, and cost pressures pose challenges for the company.
Opportunities lie in margin expansion, M&A growth in new regions, and growth in the asphalt segment.

Summit Materials reports record Q3 performance amidst cost challenges

Summit Materials delivered strong financial performance in Q3 2023, with record revenue and profitability driven by pricing momentum and operational excellence.
While facing challenges like residential downturns and cost pressures, the company remains focused on margin expansion, cost control, and growth opportunities.
Opportunities lie in retiring TRA liability, closing the Argos transaction, and leveraging strong pricing momentum and market demand for future growth.
With a strategic focus on synergy realization, portfolio optimization, and operational improvements, Summit Materials aims for continued success in 2024.

Summit Materials achieves record 2023 performance, eyes strong 2024 growth

Summit Materials reported exceptional financial performance in 2023, with a focus on safety and operational efficiency. The company anticipates continued growth in 2024 through synergies, operational improvements, and strategic pricing initiatives.

Summit Materials reports robust Q1 performance and strategic growth outlook

Summit Materials' strong Q1 performance and focus on operational efficiencies position the company well for 2024 growth.
Despite challenges like volume pressure and import pricing, the company's strategic strengths and opportunities offer a positive outlook.
With a materials-dominant portfolio and emphasis on synergies, Summit Materials aims for margin expansion and operational excellence in 2024.
Confidence in achieving synergies, maintaining pricing strategies, and driving growth through commercial initiatives highlight Summit Materials' strategic direction.

Summit Materials reports strong Q2 performance amidst volume challenges

Summit Materials delivered a successful Q2 with margin expansion and strategic acquisitions. Facing challenges in volume due to weather impacts and softening demand.
Confident in maintaining outlook with strong pricing execution and synergies progress. Cement pricing power expected to remain strong with opportunities for growth.
Continued focus on driving margin and EBITDA growth through controllable levers. Renegotiating agreements to catch up to market pricing in the Cement segment.

Summit Materials reports robust Q3 performance amidst weather challenges

Summit Materials' Q3 2024 performance showcased resilience and strategic progress despite weather challenges. With a focus on safety, pricing strategies, and operational improvements, the company is poised for enduring growth and margin expansion.

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Summit Materials, Inc. is a vertically integrated construction materials company, which engages in manufacturing construction materials and related downstream products. It operates through the following segments: West, East, and Cement. The West segment includes operations in Texas, Utah, Arizona, Colorado, Idaho, Wyoming, Oklahoma, Arkansas and British Columbia, Canada. The East segments refers to its East and Central regions and serves markets extending across the Midwestern and Eastern United States. The Cement segment is involved in Hannibal, Missouri and Davenport, Iowa cement plants, and distribution terminals along the Mississippi River from Minnesota to Louisiana. The company was founded by Thomas W. Hill on September 23, 2014 and is headquartered in Denver, CO.

SUM is set to be acquired by Quikrete by the first half of 2025 for $11.5 billion.

Summit Announces Agreement to be Acquired by Quikrete for $11.5B

LOS ANGELES, CA / ACCESSWIRE / November 26, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Summit Materials, Inc. ("Summit" or "the Company") (NYSE:SUM) for potential breaches of fiduciary duty on the part of its directors and management. The investigation focuses on determining if the Summit board breached its fiduciary duties to shareholders.

The Schall Law Firm Encourages Shareholders To Take Part In An Inquiry Into Summit Materials Inc For Securities Law Violations

NEW YORK , Nov. 25, 2024 /PRNewswire/ -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm by ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating Summit Materials, Inc. (NYSE: SUM ), relating to the proposed merger with Quikrete Holdings.

SHAREHOLDER ALERT: The M&A Class Action Firm Investigates the Merger of Summit Materials, Inc. - SUM

MONSEY, N.Y., Nov. 25, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed sale of Summit Materials, Inc. (NYSE: SUM) (“Summit”) to Quikrete Holdings (“Quikrete”) for $52.50 per share in cash.

SUM Alert: Monsey Firm of Wohl & Fruchter Investigating Fairness of the Sale of Summit Materials to Quikrete Holdings

LOS ANGELES--(BUSINESS WIRE)--SUM Investors Have the Opportunity to Join Investigation of Summit Materials, Inc. with the Schall Law Firm.

SUM Investors Have the Opportunity to Join Investigation of Summit Materials, Inc. with the Schall Law Firm

NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of Summit Materials, Inc. (NYSE: SUM) to Quikrete Holdings, Inc. for $52.50 per share in cash is fair to Summit shareholders. Halper Sadeh encourages Summit shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or sadeh@halpersadeh.com or zhalper@halpersadeh.com. The investigation concerns whether Summit a.

SUM Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of Summit Materials, Inc. Is Fair to Shareholders

With interest rates coming down, the largest concrete company is buying Summit at a deal value of $11.5 billion including debt.

Quikrete bulks up even more ahead of potential construction boom by buying Summit Materials

MILWAUKEE--(BUSINESS WIRE)--Ademi LLP is investigating Summit Materials (NYSE: SUM) for possible breaches of fiduciary duty and other violations of law in its transaction with Quikrete. Click here to learn how to join our investigation and obtain additional information or contact us at gademi@ademilaw.com or toll-free: 866-264-3995. There is no cost or obligation to you. In the transaction, the stockholders of Summit Materials will receive only $52.50 per share in cash, for a total enterprise v.

Shareholder Alert: Ademi LLP Investigates Whether Summit Materials, Inc. is Obtaining a Fair Price for its Public Shareholders

Compelling Premium Maximizes Value to Shareholders DENVER , Nov. 25, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM), ("Summit," "Summit Materials," "Summit Inc." or the "Company") a leading producer of aggregates and cement, today announced it has entered into a definitive agreement to be acquired by Quikrete Holdings, Inc. ("Quikrete") for $52.50 per share in cash, for a total enterprise value of approximately $11.5 billion, including debt. The transaction price represents an approximately 36% premium to Summit's unaffected 90-day volume weighted average price (VWAP) 1 and an approximately 29% premium to Summit's unaffected share price 2.

Summit Materials Enters into Definitive Agreement to be Acquired by Quikrete for $52.50 Per Share in Cash

The combination would create a behemoth producer of construction materials in North America.

Concrete-Maker Quikrete Strikes $9.2 Billion Deal for Summit Materials

DENVER , Nov. 21, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company") today issued the following statement in response to media reports: "Summit previously disclosed receipt of a non-binding acquisition proposal and confirmed the Company has held initial discussions with the interested party. Summit does not plan to provide any updates with respect to this matter, except as required under applicable law.

Summit Materials Responds to Media Reports

Quikrete is in advanced talks to acquire Summit Materials, according to people familiar with the matter.

Building-Materials Provider Quikrete in Advanced Talks to Buy Summit

Summit Materials, Inc. (NYSE:SUM ) Q3 2024 Earnings Conference Call October 31, 2024 11:00 AM ET Company Participants Andy Larkin – Vice President of Investor Relations Anne Noonan – Chief Executive Officer Scott Anderson – Chief Financial Officer Conference Call Participants Philip Ng – Jefferies Trey Grooms – Stephens Garik Shmois – Loop Capital Asher Sohnen – Citigroup Kathryn Thompson – Thompson Research Group Angel Castillo – Morgan Stanley Timna Tanners – Wolfe Research Rohit Seth – Seaport Research Partners Keith Hughes – Truist Securities Adam Thalhimer – Thompson Davis & Co. Jerry Revich – Goldman Sachs Mike Dahl – RBC Capital Markets Operator Thank you for standing by. My name is Mandeep, and I'll be your operator today.

Summit Materials, Inc. (SUM) Q3 2024 Earnings Call Transcript

The headline numbers for Summit Materials (SUM) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Here's What Key Metrics Tell Us About Summit Materials (SUM) Q3 Earnings

Summit Materials (SUM) came out with quarterly earnings of $0.75 per share, beating the Zacks Consensus Estimate of $0.70 per share. This compares to earnings of $0.81 per share a year ago.

Summit Materials (SUM) Beats Q3 Earnings Estimates

Pricing Momentum Continues Sets ELEVATE Summit Record for Quality of Earnings Refining 2024 Guidance DENVER , Oct. 30, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company"), a market-leading producer of aggregates and cement company, today announced results for the third quarter ended September 28, 2024. All comparisons are versus the quarter ended September 30, 2023 unless noted otherwise.

Summit Materials, Inc. Reports Third Quarter 2024 Results

DENVER , Oct. 24, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company") today disclosed that it has received a non-binding acquisition proposal. The Company has held initial discussions with the interested party, and, in consultation with its advisors, Summit's Board of Directors will carefully evaluate the proposal to determine the course of action it believes is in the best interests of the Company and its shareholders.

Summit Materials Discloses Receipt of a Non-Binding Acquisition Proposal

Building materials provider Quikrete is in early-stage talks to acquire rival Summit Materials , people familiar with the matter said on Thursday.

Quikrete is in talks to acquire Summit Materials, sources say

Summit Materials (SUM) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Analysts Estimate Summit Materials (SUM) to Report a Decline in Earnings: What to Look Out for

DENVER , Oct. 15, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM, "Summit" or the "Company"), a leading vertically integrated construction materials company, today announced that it will release third quarter 2024 financial results after the market closes on Wednesday, October 30, 2024. A conference call will be held on Thursday, October 31, 2024, at 11:00 a.m.

Summit Materials Announces Third Quarter 2024 Results Conference Call Date

Summit Materials, Inc. has strong growth prospects driven by price increases, easing volume comparisons, and robust demand in public infrastructure and manufacturing sectors. Margins are expected to improve due to cost synergies from acquisitions, moderating inflation, and productivity gains despite recent weather-related volume declines. The stock is trading at a discount to its historical averages, with potential for P/E multiple re-rating and high double-digit EPS growth in the coming years.

Summit Materials: Good Growth Prospects Should Drive Further Upside

First global pre-commercial installation of FuelFlex technology will reduce Davenport's Fossil Fuel usage by 20%.  DENVER , Sept.

Summit Materials and Green America Recycling Pioneer Alternative Fuel Technology at the Davenport, Iowa Cement Plant

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Federal infrastructure spending should help the Zacks Building Products - Concrete & Aggregates industry players like VMC, EXP and SUM. Yet, high rates and expenses are risks.

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Summit Materials, Inc. (NYSE:SUM ) Q2 2024 Earnings Conference Call August 6, 2024 12:00 PM ET Company Participants Andy Larkin - Vice President, Investor Relations Anne Noonan - Chief Executive Officer Scott Anderson - Chief Financial Officer Conference Call Participants Trey Grooms - Stephens Garik Shmois - Loop Capital Asher Sohnen - Citi Kathryn Thompson - Thompson Research Philip Ng - Jefferies Brent Thielman - D.A. Davidson Timna Tanners - Wolfe Research Jerry Revich - Goldman Sachs Keith Hughes - Truist Securities Joe Nolan - Longbow Research Operator Thank you for standing by.

Summit Materials, Inc. (SUM) Q2 2024 Earnings Call Transcript

The headline numbers for Summit Materials (SUM) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

News for Summit Materials Stock (SUM)