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.

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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.

Summit Materials is moving forward with plans to acquire the equity interests of Argos USA. The combination would create a market-leading cement producer with attractive long-term growth prospects.

Why Summit Materials Stock Jumped on Thursday

DENVER , Oct. 12, 2023 /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 2023 financial results after the market closes on Wednesday, November 1, 2023. A conference call will be held on Thursday, November 2, 2023, at 11:00 a.m.

Summit Materials Announces Third Quarter 2023 Results Conference Call Date

DENVER , Oct. 10, 2023 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM, "Summit" or the "Company"), a leading vertically integrated construction materials company, today announced that Anne Noonan, Summit's President and CEO, and Scott Anderson, Summit's Executive Vice President and CFO, will discuss the combination with Argos USA with covering analyst, Trey Grooms, from Stephens. The discussion will take place during a fireside chat at 8:00 a.m.

Summit Materials to Discuss Argos Deal in Analyst-Led Fireside Chat

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Colombia-based Cementos Argos announced it will combine its North American operations, Argos North America Corp., with Summit Materials (SUM) in a cash and stock deal worth $3.2 billion. The merger will create one of the largest cement and ready-mix suppliers in the U.S.

Cementos Argos, Summit Materials Merge North American Operations in $3.2 Billion Deal

NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating whether the merger of Summit Materials, Inc. (NYSE: SUM) and Cementos Argos S.A. is fair to Summit shareholders. Under the terms of the agreement, Cementos will receive approximately 54.7 million shares of Summit stock and approximately $1.2 billion in cash, subject to closing adjustments. Upon closing of the proposed transaction, Cementos will own approximately 31% of the combined company on a fully dilu.

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

Shares of Summit Materials Inc. SUM rallied 2.4% in premarket trading Thursday, after the cement maker announced an agreement to combine with Argos North America Corp. (Argos USA), the U.S. operations of Colombia-based Cementos Argos S.A. CMTOY CO:CEMARGOS in a cash and stock deal valued at about $3.2 billion.

Summit Materials to combine with Cementos Argos' U.S. business in a cash and stock deal valued at about $3.2 billion

ALPHARETTA, Ga.--(BUSINESS WIRE)--Cementos Argos today announced it has entered into a definitive agreement with Summit Materials, Inc. (NYSE:SUM) under which the U.S. operations of Cementos Argos, Argos North America Corp, will combine with Summit in a cash and stock transaction valued at $3.2 billion. “This combination accelerates the strategic growth plans for both Argos North America and Summit,” said Simon Bates, CEO of Argos North America. “As a result of the combination, our ability to s.

Argos North America and Summit Materials Combine to Create a Stronger Force in the U.S. Construction Materials Industry

Accelerates 'Elevate Summit' by Creating Premier Enterprise with ~$1 billion Combined EBITDA Including $100 Million of Synergies Expands Summit's Cement Footprint in Rapidly Growing, Year-Round Markets with Reduced Seasonality Enhances Scale and Ability to Meet Demand in Increasingly Capacity-Constrained U.S. Cement Market Expected to Increase Free Cash Flow per Share by 15-25% DENVER , Sept. 7, 2023 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company") is pleased to announce it has entered into a definitive agreement with Cementos Argos S.A.

Summit Materials to Combine with Argos USA, Creating a Materials-Led Enterprise with National Scale

Summit's (SUM) subsidiary to acquire all the rights and interest of Blackstone TRA parties for a cash consideration of $115 million.

Summit's (SUM) TRA to Streamline its Corporate Structure

Summit Materials (SUM) witnesses a hammer chart pattern, indicating support found by the stock after losing some value lately. This coupled with an upward trend in earnings estimate revisions could mean a trend reversal for the stock in the near term.

Here's Why Summit Materials (SUM) Is a Great 'Buy the Bottom' Stock Now

DENVER , Aug. 22, 2023 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM, the "Company"), a leading vertically integrated construction materials company, announces that it reached an agreement with certain affiliates of Blackstone Inc. (the "Blackstone TRA Parties") that resulted in its indirect subsidiary, Summit Materials, LLC (together with the Company, "Summit") acquiring all of the rights and interest of each of the Blackstone TRA Parties under the Tax Receivable Agreement, dated as of March 11, 2015 (as amended, the "TRA"), by and among the Company, the Blackstone TRA Parties and certain other parties. In exchange for cash consideration of $115 million in the aggregate, Summit has eliminated an estimated $256 million in TRA payments payable to Blackstone between 2024 and 2039.

Summit Materials Announces Significant Step to Streamline Company Structure

Summit Materials, Inc. (NYSE:SUM ) Q2 2023 Earnings Conference Call August 3, 2023 12:00 PM ET Company Participants Andy Larkin - Vice President of Investor Relations Anne Noonan - Chief Executive Officer Scott Anderson - Chief Financial Officer Conference Call Participants Trey Grooms - Stephens Keith Hughes - Truist Garik Shmois - Loop Capital Mike Dahl - RBC Capital Markets Anthony Pettinari - Citi Phil Ng - Jefferies Adam Thalhimer - Thompson Davis Brent Thielman - D.A. Davidson David MacGregor - Longbow Research Jerry Revich - Goldman Sachs Brian Biros - Thompson Research Group Operator Good morning.

Summit Materials, Inc. (SUM) Q2 2023 Earnings Call Transcript

Summit Materials (SUM) came out with quarterly earnings of $0.71 per share, beating the Zacks Consensus Estimate of $0.60 per share. This compares to earnings of $0.59 per share a year ago.

Summit Materials (SUM) Q2 Earnings and Revenues Surpass Estimates

Second  Quarter Records established for Revenue and Profitability Achieved Elevate Summit target for ROIC Raises 2023 Guidance DENVER , Aug. 2, 2023 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company"), a leading vertically integrated construction materials company, today announced results for the second quarter ended July 1, 2023. All comparisons are versus the quarter-ended July 2, 2022 unless noted otherwise.

Summit Materials, Inc. Reports Second Quarter 2023 Results

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Should Value Investors Buy Summit Materials (SUM) Stock?

Does Summit Materials (SUM) have what it takes to be a top stock pick for momentum investors? Let's find out.

Here's Why Summit Materials (SUM) is a Great Momentum Stock to Buy

DENVER , July 13, 2023 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM, "Summit" or the "Company"), a leading vertically integrated construction materials company, today announced that it will release second quarter 2023 financial results after the market closes on Wednesday, August 2, 2023. A conference call will be held on Thursday, August 3, 2023, at 12:00 p.m.

Summit Materials Announces Second Quarter 2023 Results Conference Call Date

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Summit Materials Inc's revenue growth is expected to benefit from price increases and strong demand in non-residential and public infrastructure markets, offsetting a decline in residential volume. The company has managed to offset inflation and supply chain issues through price increases, and its long-term outlook is favorable due to improving business portfolio mix and cost-saving measures. Valuation is reasonable.

Summit Materials: Good Medium To Long-Term Growth Prospects

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Summit Materials, Inc. (NYSE:SUM ) Q1 2023 Earnings Conference Call May 4, 2023 12:00 PM ET Company Participants Andy Larkin - Vice President of Investor Relations Anne Noonan - Chief Executive Officer Scott Anderson - Chief Financial Officer Conference Call Participants Stanley Elliott - Stifel Trey Grooms - Stephens Keith Hughes - Truist Brent Thielman - D.A. Davidson Adam Thalhimer - Thompson Davis Philip Ng - Jefferies Dillon Cumming - Morgan Stanley Anthony Pettinari - Citigroup David MacGregor - Longbow Research Kathryn Thompson - Thompson Research Group Mike Dahl - RBC Capital Markets Jerry Revich - Goldman Sachs Garik Shmois - Loop Capital Markets Operator Hello.

Summit Materials, Inc. (SUM) Q1 2023 Earnings Call Transcript

Summit Materials (SUM) came out with a quarterly loss of $0.26 per share versus the Zacks Consensus Estimate of a loss of $0.38. This compares to loss of $0.40 per share a year ago.

News for Summit Materials Stock (SUM)