Welcome to our dedicated page for Summit Matls news (Ticker: SUM), a resource for investors and traders seeking the latest updates and insights on Summit Matls stock.
Summit Materials Inc. (NYSE: SUM) is a leading vertically integrated supplier of construction materials, providing essential resources for infrastructure and development projects across North America. This page serves as the definitive source for official company announcements, financial updates, and operational developments.
Investors and industry professionals will find curated access to earnings reports, acquisition updates, strategic initiatives, and operational milestones. Our news collection supports informed decision-making by consolidating verified information about SUM's aggregates production, cement manufacturing, and market expansion activities.
Regular updates include quarterly financial disclosures, leadership changes, sustainability efforts, and project awards. The content reflects SUM's position in critical construction sectors while maintaining strict adherence to factual reporting standards.
Bookmark this page for streamlined access to Summit Materials' latest developments. Check back regularly to stay current with the company news impacting construction material markets and infrastructure investment landscapes.
Summit Materials, Inc. (NYSE: SUM) reported strong Q2 2024 results, with net revenue up 58.1% to $1.08 billion and net income increasing 25.2% to $106.1 million. Despite weather-related disruptions, the company saw positive pricing momentum across all business lines and ongoing cost savings initiatives. Summit reaffirmed its 2024 guidance, projecting Adjusted EBITDA between $970 million and $1,010 million.
Key highlights include:
- Operating income up 33.4% to $172.9 million
- Adjusted EBITDA increased 54.5% to $296.2 million
- On track to generate at least $40 million in Argos USA synergies
- Capital expenditures expected to range from $430 million to $470 million
CEO Anne Noonan expressed confidence in Summit's ability to capitalize on a constructive pricing environment and drive operational improvements to deliver significant shareholder value.
Summit Materials (NYSE: SUM) has announced the date for its second quarter 2024 financial results conference call. The company will release its Q2 2024 results after market close on Monday, August 5, 2024. A conference call to discuss the results is scheduled for Tuesday, August 6, 2024, at 12:00 p.m. eastern time (10:00 a.m. mountain time).
Investors can access the webcast and accompanying presentation materials through Summit's website or via a provided link. For those participating in the live teleconference, domestic and international dial-in numbers are available. A replay of the call will be accessible until August 13, 2024.
Summit Materials, Inc. reported strong first-quarter results for 2024, with significant increases in net revenue, adjusted cash gross profit, and adjusted EBITDA. The company raised its 2024 synergy target to at least $40 million and adjusted its guidance higher for the year. Summit's President and CEO, Anne Noonan, highlighted the positive start to the integration with Argos USA and expressed optimism about pricing momentum, operational improvements, and margin expansion in 2024. The company's balance sheet is in a strong position for potential acquisitions, ensuring continued financial and strategic progress.
FAQ
What is the current stock price of Summit Matls (SUM)?
What is the market cap of Summit Matls (SUM)?
