Summit Materials, Inc. Reports Second Quarter 2018 Results
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Summit Materials (SUM) Q2 Revenues Above Consensus
August 1, 2018 6:17 AM EDTSummit Materials (NYSE: SUM) reported Q2 EPS of $0.32, $0.21 worse than the analyst estimate of $0.53. Revenue for the quarter came in at $600 million versus the consensus estimate of $542.84 million.
-Y/Y Net Revenue Growth of 14.8%, Supported By Broad-Based Organic Volume Improvements-Completed Four Materials-Based Bolt-on Acquisitions For Total Invested Capital of $75 million Since May 2018-Reduced Midpoint of Adjusted EBITDA Guidance Range For The Full-Year 2018 By 7%-Remain On Pace To Achieve Record Full-Year Adjusted EBITDA in 2018While net revenue increased 14.8% on a year-over-basis in the second quarter 2018, supported by... More
