Summit Materials, Inc. Reports Third Quarter 2018 Results
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Summit Materials (SUM) Tops Q3 EPS by 3c, Revenues Beat
November 6, 2018 6:20 AM ESTSummit Materials (NYSE: SUM) reported Q3 EPS of $0.74, $0.03 better than the analyst estimate of $0.71. Revenue for the quarter came in at $694.66 million versus the consensus estimate of $642.57 million.
Tom Hill, CEO of Summit Materials, stated, "We experienced significant inclement weather in the third quarter, as well as continued inflationary cost pressures in our businesses beyond our expectations. While we achieved organic volume and price increases in our aggregates and products during the third quarter, our net income declined and our Adjusted EBITDA remained flat in the third quarter of 2018 as compared to the third... More
