Summit Materials reports Q4 adjusted EPS 31c, consensus 26c

Reports Q4 revenue $613.13M, consensus $588.79M. “Summit is at an exciting and pivotal point in our company’s history,” commented Anne Noonan, Summit Materials President and CEO. “Our team has effectively capitalized on dynamic, yet constructive market conditions to drive record revenue and profitability. And we’re building on our record setting performance by swiftly and safely advancing our Argos integration – a move that we expect will only strengthen our materials-led business. For 2024, with an improved footprint and increased scale we anticipate delivering another year of strong growth and returns. Our positive outlook is supported by robust commercial conditions, an improving demand backdrop, and a full set of growth opportunities that are unique to Summit Materials. Crucially, our high-quality execution, financial performance, and strategic focus has afforded us the balance sheet flexibility to continue our pursuit of value-accretive capital allocation priorities. Today and moving forward, we firmly believe Summit is very well-positioned to generate superior value creation for our shareholders.”