Summit Materials (SUM) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, Summit Materials (SUM) reported revenue of $680.37 million, up 7.7% over the same period last year. EPS came in at $0.71, compared to $0.59 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $648.7 million, representing a surprise of +4.88%. The company delivered an EPS surprise of +18.33%, with the consensus EPS estimate being $0.60.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: $13.65 compared to the $13.40 average estimate based on two analysts.
Total Volume - Cement: 703 Ton versus 684.88 Ton estimated by two analysts on average.
Total Volume - Aggregates: 16396 Ton compared to the 16007.5 Ton average estimate based on two analysts.
Pricing - Cement: $149.10 compared to the $146.57 average estimate based on two analysts.
Service: $84.66 million versus the three-analyst average estimate of $88.39 million. The reported number represents a year-over-year change of -4.9%.
Delivery and subcontract revenue: $48.78 million versus $55.25 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -10.7% change.
Line of Business- Adjusted Cash Gross Profit/Aggregates: $97.80 million versus $90.51 million estimated by three analysts on average.
Line of Business- Adjusted Cash Gross Profit/Services: $14.17 million versus $16.33 million estimated by three analysts on average.
Line of Business- Adjusted Cash Gross Profit/Products: $65.74 million versus $51.25 million estimated by three analysts on average.
Line of Business- Adjusted Cash Gross Profit/Cement: $59.04 million versus $49.60 million estimated by three analysts on average.
View all Key Company Metrics for Summit Materials here>>>
Shares of Summit Materials have returned -1.3% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #2 (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
