SUMMIT MATERIALS, IN

SUM
Delayed Quote. Delayed  - 03/08 04:10:00 pm
29.63USD +1.54%

Summit Materials: 4Q Earnings Snapshot

02/23/2021 | 05:56pm

DENVER (AP) _ Summit Materials Inc. (SUM) on Tuesday reported fourth-quarter earnings of $35.2 million.

On a per-share basis, the Denver-based company said it had net income of 31 cents. Earnings, adjusted for pretax gains, came to 25 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.

The construction materials producer posted revenue of $624.6 million in the period. Its adjusted revenue was $571.9 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $517.8 million.

For the year, the company reported profit of $138 million, or $1.20 per share. Revenue was reported as $2.13 billion.

Summit Materials shares have risen 30% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $26.15, a rise of 17% 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

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News

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