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Summit Materials (SUM) Reports Q1 Earnings: What Key Metrics Have to Say
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Summit Materials (SUM - Free Report) reported $773.23 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 89.9%. EPS of -$0.12 for the same period compares to -$0.26 a year ago.
The reported revenue represents a surprise of -5.30% over the Zacks Consensus Estimate of $816.49 million. With the consensus EPS estimate being -$0.23, the EPS surprise was +47.83%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Summit Materials performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Pricing - Aggregates: $14.89 compared to the $14.54 average estimate based on two analysts.
Total Volume - Cement: 1,739 Ton versus the two-analyst average estimate of 1,018.5 Ton.
Total Volume - Aggregates: 11,654 Ton versus 12,447.4 Ton estimated by two analysts on average.
Pricing - Cement: $152.11 versus $160.69 estimated by two analysts on average.
Net Revenue by Line of Business- Products: $359.09 million compared to the $366.87 million average estimate based on three analysts. The reported number represents a change of +100% year over year.
Revenue- Service: $44.54 million versus the three-analyst average estimate of $39.54 million. The reported number represents a year-over-year change of +26.9%.
Net Revenues by product- Cement: $224.10 million compared to the $264.08 million average estimate based on three analysts. The reported number represents a change of +357.2% year over year.
Net Revenues by product- Aggregates: $145.51 million versus $152.26 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +1.3% change.
Delivery and subcontract revenue: $31.79 million compared to the $57.15 million average estimate based on two analysts. The reported number represents a change of +13.1% year over year.
Line of Business- Adjusted Cash Gross Profit/Aggregates: $59 million versus $55.03 million estimated by three analysts on average.
Line of Business- Adjusted Cash Gross Profit/Services: $6.96 million compared to the $3.43 million average estimate based on three analysts.
Line of Business- Adjusted Cash Gross Profit/Products: $44.14 million compared to the $40.80 million average estimate based on three analysts.
Shares of Summit Materials have returned -8.3% over the past month versus the Zacks S&P 500 composite's -4.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Summit Materials (SUM) Reports Q1 Earnings: What Key Metrics Have to Say
Summit Materials (SUM - Free Report) reported $773.23 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 89.9%. EPS of -$0.12 for the same period compares to -$0.26 a year ago.
The reported revenue represents a surprise of -5.30% over the Zacks Consensus Estimate of $816.49 million. With the consensus EPS estimate being -$0.23, the EPS surprise was +47.83%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Summit Materials performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Pricing - Aggregates: $14.89 compared to the $14.54 average estimate based on two analysts.
- Total Volume - Cement: 1,739 Ton versus the two-analyst average estimate of 1,018.5 Ton.
- Total Volume - Aggregates: 11,654 Ton versus 12,447.4 Ton estimated by two analysts on average.
- Pricing - Cement: $152.11 versus $160.69 estimated by two analysts on average.
- Net Revenue by Line of Business- Products: $359.09 million compared to the $366.87 million average estimate based on three analysts. The reported number represents a change of +100% year over year.
- Revenue- Service: $44.54 million versus the three-analyst average estimate of $39.54 million. The reported number represents a year-over-year change of +26.9%.
- Net Revenues by product- Cement: $224.10 million compared to the $264.08 million average estimate based on three analysts. The reported number represents a change of +357.2% year over year.
- Net Revenues by product- Aggregates: $145.51 million versus $152.26 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +1.3% change.
- Delivery and subcontract revenue: $31.79 million compared to the $57.15 million average estimate based on two analysts. The reported number represents a change of +13.1% year over year.
- Line of Business- Adjusted Cash Gross Profit/Aggregates: $59 million versus $55.03 million estimated by three analysts on average.
- Line of Business- Adjusted Cash Gross Profit/Services: $6.96 million compared to the $3.43 million average estimate based on three analysts.
- Line of Business- Adjusted Cash Gross Profit/Products: $44.14 million compared to the $40.80 million average estimate based on three analysts.
View all Key Company Metrics for Summit Materials here>>>Shares of Summit Materials have returned -8.3% over the past month versus the Zacks S&P 500 composite's -4.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.