Summit Materials (SUM) Misses Q4 EPS by 23c, Revenues Beat; Offers FY19 Adj. EBITDA Outlook

Summit Materials (NYSE: SUM) reported Q4 EPS of ($0.16), $0.23 worse than the analyst estimate of $0.07. Revenue for the quarter came in at $491.03 million versus the consensus estimate of $463.64 million.

“Underlying demand conditions in most of our markets remain favorable and are expected to remain so into 2019,” continued Hill. In Summit's public markets, state transportation funding measures in Texas, coupled with steady increases in federal subsidies, are contributing to increased lettings activity. Single family housing starts and permits remain well below peak levels in Summit's major markets.

Financial Outlook

For the full-year 2019, the Company estimates its Adjusted EBITDA to be in the range of $430 million to $470 million. For the full-year 2019, the Company estimates its capital expenditures to be in the range of $160 million to $175 million.

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

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