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Summit Materials: 3Q Earnings Snapshot

·1 min read

DENVER (AP) _ Summit Materials Inc. (SUM) on Tuesday reported third-quarter earnings of $90.7 million.

On a per-share basis, the Denver-based company said it had net income of 79 cents. Earnings, adjusted for non-recurring gains, were 55 cents per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.

The construction materials producer posted revenue of $709.6 million in the period. Its adjusted revenue was $645.2 million, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $677.2 million.

Summit Materials shares have fallen 21% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $18.84, a decrease of 19% in the last 12 months.

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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