Summit Materials (NYSE:SUM) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$1.17b (up 47% from 3Q 2023).

• Net income: US$105.2m (down 54% from 3Q 2023).

• Profit margin: 9.0% (down from 29% in 3Q 2023).

• EPS: US$0.60 (down from US$1.93 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Summit Materials Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 4.6%. Earnings per share (EPS) also missed analyst estimates by 4.8%.

Looking ahead, revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Basic Materials industry in the US.

Performance of the American Basic Materials industry.

The company's shares are up 5.1% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 4 warning signs for Summit Materials (1 doesn't sit too well with us!) that you need to be mindful of.

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