Compared to Estimates, Summit Materials (SUM) Q3 Earnings: A Look at Key Metrics
Summit Materials (SUM) reported $741.96 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 8.2%. EPS of $0.81 for the same period compares to $0.70 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $758.13 million, representing a surprise of -2.13%. The company delivered an EPS surprise of +8.00%, with the consensus EPS estimate being $0.75.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: $14.28 versus the three-analyst average estimate of $13.92.
Total Volume - Cement: 746 Ton compared to the 804.92 Ton average estimate based on three analysts.
Total Volume - Aggregates: 15,654 Ton versus 15,964.67 Ton estimated by three analysts on average.
Pricing - Cement: $155.79 versus the three-analyst average estimate of $155.92.
Net Revenues by product- Aggregates: $179.82 million versus $179.03 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +10% change.
Net Revenues by product- Cement: $115.14 million versus $126.05 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +2.4% change.
Service: $100.18 million compared to the $100.23 million average estimate based on three analysts. The reported number represents a change of +1.3% year over year.
Net Revenue by Line of Business- Products: $346.82 million versus $350.62 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +11.5% change.
Delivery and subcontract revenue: $52.84 million versus the two-analyst average estimate of $71.20 million. The reported number represents a year-over-year change of -20.8%.
Revenues by product- Other Products: $15.60 million versus $16.31 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +2.4% change.
Revenues by product- Asphalt: $117.90 million versus the two-analyst average estimate of $122.51 million. The reported number represents a year-over-year change of +10.4%.
Net Revenues by product- Ready-mixed concrete: $213.33 million versus the two-analyst average estimate of $192.11 million. The reported number represents a year-over-year change of +12.8%.
View all Key Company Metrics for Summit Materials here>>>
Shares of Summit Materials have returned +5.8% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
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Summit Materials, Inc. (SUM) : Free Stock Analysis Report
