Summit Materials (SUM) Posts Narrower than Expected Q1 Loss
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Summit Materials Announces First Quarter 2015 Results
May 5, 2015 6:00 AM EDTDENVER--(BUSINESS WIRE)-- Summit Materials, Inc. (NYSE: SUM)(Summit or the Company), a leading vertically integrated construction materials company, today announced results for the first quarter ended March 28, 2015.
First Quarter 2015 Highlights Compared to First Quarter 2014:
Net revenue grew 28.8% to $175.1 million.
Operating loss of $59.0 million, compared to $35.0 million, due to initial public offering costs.
Adjusted EBITDA improved to a $5.0 million deficit, compared to a $15.5 million deficit.
Gross profit increased 59.3% to $35.7 million.
Aggregates, cement and ready-mixed concrete volumes grew 67.4%, 39.3% and 52.0%, respectively.
Aggregates, cement, ready-mixed concrete and asphalt organic pricing improved 4.5%, 10.7%, 6.3% and 17.5%, respectively.
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