MONSEY, N.Y., Nov. 25, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed sale of Summit Materials, Inc. (NYSE: SUM) (“Summit”) to Quikrete Holdings (“Quikrete”) for $52.50 per share in cash. The sale price represents only a tiny 1.6% premium to Summit’s last closing price of $51.66 per share on November 22, 2024. Further calling the fairness of the deal into question, the sale price is below the pre-announcement price target for Summit of at least thr ...

DENVER, Nov. 21, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company") today issued the following statement in response to media reports:"Summit previously disclosed receipt of a non-binding acquisition proposal and confirmed the Company has held initial discussions with the interested party. Summit does not plan to provide any updates with respect to this matter, except as required under applicable law."Morgan Stanley & Co. LLC and Evercore a ...

Summit Materials (SUM) reported $1.11 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 49.9%. EPS of $0.75 for the same period compares to $0.81 a year ago. The reported revenue represents a surprise of -6.20% over the Zacks Consensus Estimate of $1.19 billion. With the consensus EPS estimate being $0.70, the EPS surprise was +7.14%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wa ...

Summary of Key Points Core Viewpoint - Summit Materials reported quarterly earnings of $0.75 per share, exceeding the Zacks Consensus Estimate of $0.70 per share, but down from $0.81 per share a year ago, indicating a 7.14% earnings surprise [1]. Financial Performance - The company achieved revenues of $1.11 billion for the quarter ended September 2024, which fell short of the Zacks Consensus Estimate by 6.20%, compared to $741.96 million in the same quarter last year [2]. - Over the last four quarters, Summit Materials has surpassed consensus EPS estimates four times but has only topped consensus revenue estimates once [2]. Stock Performance and Outlook - Summit Materials shares have increased approximately 19.6% year-to-date, while the S&P 500 has gained 22.3% [3]. - The company's earnings outlook is crucial for investors, as it reflects current consensus earnings expectations for upcoming quarters and any recent changes to those expectations [4]. Estimate Revisions and Industry Ranking - The trend for estimate revisions ahead of the earnings release was unfavorable, resulting in a Zacks Rank 5 (Strong Sell) for the stock, suggesting expected underperformance in the near future [6]. - The current consensus EPS estimate for the upcoming quarter is $0.38 on revenues of $1.03 billion, and for the current fiscal year, it is $1.59 on revenues of $4.06 billion [7]. - The Building Products - Concrete and Aggregates industry is currently ranked in the bottom 8% of over 250 Zacks industries, indicating potential challenges for stock performance [8].

Exhibit 99.1 Summit Materials, Inc. Reports Third Quarter 2024 Results Pricing Momentum Continues Sets ELEVATE Summit Record for Quality of Earnings Refining 2024 Guidance DENVER, CO. - (October 30, 2024) - Summit Materials, Inc. (NYSE: SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company"), a market-leading producer of aggregates and cement company, today announced results for the third quarter ended September 28, 2024. All comparisons are versus the quarter ended September 30, 2023 unless not ...

DENVER, Oct. 24, 2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE: SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company") today disclosed that it has received a non-binding acquisition proposal.The Company has held initial discussions with the interested party, and, in consultation with its advisors, Summit's Board of Directors will carefully evaluate the proposal to determine the course of action it believes is in the best interests of the Company and its shareholders.There can be no assuranc ...

Core Viewpoint - Summit Materials, Inc. is set to release its third quarter 2024 financial results on October 30, 2024, with a conference call scheduled for October 31, 2024, to discuss these results and recent events [1][2]. Group 1: Financial Results Announcement - The company will announce its third quarter 2024 financial results after market close on October 30, 2024 [1]. - A conference call to review the financial results and discuss recent events will take place on October 31, 2024, at 11:00 a.m. eastern time [1]. Group 2: Conference Call Details - A webcast of the conference call and presentation materials will be available on the company's investor website [2]. - Domestic and international participants can join the live teleconference using specific phone numbers and a conference ID [2]. Group 3: Company Overview - Summit Materials is a leading producer of aggregates and cement, with vertically integrated operations supplying ready-mix concrete and asphalt [3]. - The company operates in the United States and British Columbia, Canada, serving public infrastructure, residential, and non-residential markets [3]. - Summit has a strong acquisition track record and continues to seek high-return growth opportunities in both new and existing markets [3].

A webcast of the second quarter results conference call and accompanying presentation materials will be available in the Investors section of Summit's website at investors.summit-materials.com or at the following link: https://events.q4inc.com/attendee/766164594 | --- | --- | |---------------------|----------------| | | | | Domestic Live: | 1-888-330-3416 | | International Live: | 1-646-960-0820 | | Conference ID: | 1542153 | | Password: | Summit | Domestic Replay: 1-800-770-2030 Conference ID: 1542153 Summ ...

Yes, Phil. Glad you picked up on the cost. That is a focus for us. And right out of the gate this year, we said operational excellence. We've been going through, side by side, doing these continuous improvement projects. We dropped $15 million to the bottom line last year. We're going to double down our efforts this year. We're building out those capabilities. We're very focused, what we call as an STVC, sub variable cost, which is our unit cost per ton of aggregates produced. So you're going to see through ...

Exhibit 99.1 Summit Materials, Inc. Reports First Quarter 2024 Results Margin Expansion Fueled by Pricing Momentum and Operational Improvements Raises 2024 Synergy Target to At Least $40 million Adjusting 2024 Guidance Higher DENVER, CO. - (May 1, 2024) - Summit Materials, Inc. (NYSE: SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company"), market-leading producer of aggregates and cement company, today announced results for the first quarter ended March 30, 2024. All comparisons are versus the ...