Summit Materials (SUM) Misses Q2 EPS by 1c

Summit Materials (NYSE: SUM) reported Q2 EPS of $0.46, $0.01 worse than the analyst estimate of $0.47. Revenue for the quarter came in at $412.6 million versus the consensus estimate of $422.18 million.

Full Year 2016 Outlook

For the full year 2016, based on current market conditions, Summit expects to generate Adjusted EBITDA in the range of $360.0 million to $370.0 million, compared to Adjusted EBITDA of $287.5 million in 2015. The Adjusted EBITDA outlook assumes organic improvement, along with the successor period for acquisitions completed through today’s date.

Summit continues to target approximately $30.0 million of annualized Adjusted EBITDA per year from acquisitions. The upwardly revised full year 2016 Adjusted EBITDA outlook range of $360.0 million to $370.0 million excludes the potential upside from any future acquisitions due to the unspecified closing dates of any future acquisitions, the timing of which will impact the magnitude of acquired Adjusted EBITDA realized in 2016.

For earnings history and earnings-related data on Summit Materials (SUM) click here.

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