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Summit Materials: 1Q Earnings Snapshot

DENVER (AP) _ Summit Materials Inc. (SUM) on Wednesday reported a loss of $68.8 million in its first quarter.

On a per-share basis, the Denver-based company said it had a loss of 62 cents. Losses, adjusted for non-recurring costs, were 49 cents per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 60 cents per share.

The construction materials producer posted revenue of $306 million in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $319.6 million.

Summit Materials shares have risen 34% since the beginning of the year. The stock has declined 44% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SUM at https://www.zacks.com/ap/SUM