Shares of Summit Materials (NYSE:SUM) rose 1.65% in after-market trading after the company reported Q2 results.
Earnings per share rose 61.29% over the past year to $0.50, which beat the estimate of $0.23.
Revenue of $575,240,000 up by 4.10% year over year, which beat the estimate of $538,470,000.
Earnings guidance hasn't been issued by the company for now.
Revenue guidance hasn't been issued by the company for now.
52-week high: $25.22
52-week low: $7.51
Price action over last quarter: Up 20.58%
Summit Materials is a top-10 aggregates supplier and top-15 cement producer in the U.S. Founded as a roll-up strategy in 2009, the company has grown through a very active acquisition strategy. While cement and aggregates constituted about 36% of the firm's revenue in 2019, these higher-margin businesses constituted nearly 60% of gross profit. Summit's downstream businesses and services include asphalt, ready-mix concrete, and paving. While these constitute about 64% of revenue, their lower margins lead to gross profit contribution of roughly 43%.
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