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. (historically NYSE: SUM) generated frequent news as a market-leading producer of aggregates and cement with vertically integrated operations supplying ready-mix concrete and asphalt in select markets. This news page provides an archive of company announcements and media releases from the period when Summit Materials was a publicly traded issuer, as well as coverage of its subsequent acquisition by Quikrete Holdings, Inc.
News about Summit Materials has included transaction updates, such as the definitive agreement to be acquired by Quikrete, stockholder approval of the transaction, regulatory milestones under U.S. and Canadian competition laws, and the final closing of the merger. These items document the progression from an initial non-binding acquisition proposal through to Summit Materials becoming a privately held subsidiary of Quikrete and the cessation of trading of its common stock on the New York Stock Exchange.
Operational and financial updates have also featured prominently in Summit Materials’ news flow. The company reported quarterly financial results, including segment performance for aggregates, cement, and products such as ready-mix concrete and asphalt. It announced conference call dates and webcasts for earnings discussions, providing context on pricing, volumes, and segment trends across its West, East, and Cement reporting segments.
In addition, Summit Materials issued news on sustainability and technology initiatives, including the installation of the FLSmidth FUELFLEX Pyrolyzer system at its Davenport, Iowa cement plant through Green America Recycling. This project was described as expanding the use of non-hazardous alternative fuels and supporting the company’s carbon reduction roadmap. Users interested in the historical evolution of Summit Materials, its strategic transactions, and its role in construction materials markets can review these archived news items for detailed company communications over time.
Summit Materials (NYSE: SUM) will release its second quarter 2021 financial results on August 4, 2021, post-market. A conference call is scheduled for August 5, 2021, at 11:00 a.m. ET to discuss the results and answer questions. Investors can access the call via the company's website and through provided phone lines. Summit Materials is a leading supplier of construction materials in the U.S. and Canada, specializing in aggregates, cement, ready-mix concrete, and asphalt.
Continental Cement Company, a subsidiary of Summit Materials (NYSE:SUM), announced a $6.00 price increase per short ton for cement sold at terminals in Louisiana and Memphis, effective August 1, 2021. This adjustment comes in response to rising operating and logistics costs affecting the cement industry. The price change will reflect increases in freight rates, fuel surcharges, and taxes at the time of shipment. Continental Cement's operations span several sites along the Mississippi River, supplying high-quality cement for various construction projects.
Summit Materials (NYSE: SUM) has appointed Tamla Oates-Forney as a new independent director on its board, expanding the board to nine members. Oates-Forney brings over 25 years of HR experience from her roles at Waste Management and General Electric. The leadership emphasizes her strategic contributions to the company's growth and human capital management, aligning with the company's Elevate Summit strategy focusing on safety, talent management, and recruitment.
Summit Materials (NYSE: SUM) reported a net loss of $22.5 million, or $(0.19) per share, for Q1 2021, an improvement from a net loss of $45.0 million a year ago. Revenue rose 16.4% to $398.5 million, supported by increased demand across aggregates, ready-mix concrete, and asphalt. Adjusted EBITDA surged 166.5% to $41.7 million. Operating loss improved by 39.9% to $25.1 million, with an operating margin of (6.3)%. The company maintains its 2021 Adjusted EBITDA outlook of $490-$520 million. Cash on hand is $359.7 million, with $1.9 billion in debt.
Summit Materials (NYSE: SUM) announced it will release its first quarter 2021 financial results on May 10, 2021, post-market close. A conference call is scheduled for May 11, 2021, at 11:00 a.m. ET to discuss these results and engage in a Q&A session. Additionally, a replay of the teleconference will be available until May 18, 2021. Summit is a key player in the construction materials sector, providing aggregates, cement, ready-mix concrete, and asphalt across the U.S. and British Columbia. For more details, visit summit-materials.com.
Summit Materials, Inc. (NYSE: SUM) has appointed three new senior leaders to enhance its strategic direction under newly named CEO Anne Noonan. Karli Anderson is now Executive VP and Chief ESG Officer, focusing on sustainability and governance initiatives. Chris Gaskill takes over as Executive VP, Chief Legal Officer, ensuring alignment with legal and compliance standards. Deon MacMillan joins as Chief People Officer, emphasizing culture and employee experience. These changes aim to strengthen Summit's position in the construction materials market.
Summit Materials (NYSE: SUM) will host a virtual investor day on March 16, 2021, at 11:00 a.m. MT to discuss its strategic outlook. The event includes a presentation and a Q&A session, expected to conclude by 1:00 p.m. MT. Interested participants can access the webcast on Summit's investors site or via this link. For teleconference access, dial 877-823-8690 (US) or 825-312-2236 (International) with Conference ID 8853923.
Summit Materials, a leader in construction materials, reported its Q4 and full year 2020 results, showing a net income of $35.2 million, down from $35.7 million year-over-year. Full-year net income reached $138 million, marking a significant increase from $59.1 million in 2019. Q4 net revenue rose by 13% to $571.9 million, driven by higher sales in concrete, aggregates, and asphalt. However, adjusted diluted net income dropped to $28.8 million from $71.5 million in Q4 2019. The company is projecting 2021 Adjusted EBITDA between $490 million and $520 million, with capital expenditure guidance set at $200 million to $220 million.
Summit Materials (NYSE: SUM) has announced a new schedule for the release of its fourth quarter and full year 2020 financial results, now set for February 23, 2021. A conference call will follow on February 24, 2021, to discuss these results and conduct a Q&A session. Additionally, a virtual investor event to discuss the company's strategic outlook is planned for March 16, 2021. The adjustments were made to avoid conflicts with other industry events. More information can be found on the company's investor website.
Summit Materials (NYSE: SUM) announced the release of its fourth quarter and full year 2020 financial results on February 24, 2021. A conference call will follow on February 25, 2021, at 11:00 a.m. ET to discuss these results. Additionally, the company will host a virtual investor event on March 16, 2021, at 11:00 a.m. MT. Summit Materials, known for its construction materials like aggregates and cement, emphasizes its growth strategy and acquisition successes in the press release, highlighting its comprehensive service for public infrastructure and construction markets.
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