Summit Materials(US:SUM)2022-05-06 20:48Q1 2022 Financial Results - Net Revenue was $392.5 million, a decrease compared to $398.5 million in Q1 2021[8] - Net Loss was $(34.8) million, compared to $(23.2) million in Q1 2021[8] - Adjusted EBITDA was $23.3 million, a decrease compared to $41.7 million in Q1 2021, representing approximately 4% of the full year total compared to 8% in the prior year[8] - Adjusted Cash Gross Profit was $67.6 million, a decrease compared to $81.2 million in Q1 2021[8] Segment Performance - West Segment Net Revenue increased by 0.5% to $236.0 million, but Adjusted EBITDA declined to $32.7 million[12] - East Segment Net Revenue decreased by 10.4% to $110.3 million, with Adjusted EBITDA declining to $8.1 million[12] - Cement Segment Net Revenue increased by 13.7% to $46.2 million, while Adjusted EBITDA declined to $(5.8) million[14] Pricing and Volume Analysis - Aggregates volume decreased by (0.8)%, while price increased by +4.8%[8] - Cement volume increased by +0.3%, while price increased by +10.1%[8] - Ready-Mix volume decreased by (7.2)%, while price increased by +7.3%[8] - Asphalt volume decreased by (45.1)%, while price increased by +10.2%[8] 2022 Outlook - The company updated its 2022 Adjusted EBITDA Outlook to $529 million - $557 million[77] - The company expects 2022 Capex to be $270 million - $290 million[77] Capital Structure - The company's net leverage ratio improved by 0.4x year-over-year to 2.8x[69]