U.S. Markets open in 7 hrs 31 mins

Summit Materials: 2Q Earnings Snapshot

DENVER (AP) _ Summit Materials Inc. (SUM) on Wednesday reported second-quarter earnings of $36.9 million.

The Denver-based company said it had net income of 32 cents per share.

The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.

The construction materials producer posted revenue of $600.9 million in the period. Its adjusted revenue was $549.2 million, which also missed Street forecasts. Five analysts surveyed by Zacks expected $557.7 million.

Summit Materials shares have declined 20 percent since the beginning of the year. The stock has decreased 11 percent 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