Summit Materials, Inc. Reports Earnings Results for the First Quarter Ended March 30, 2024
May 01, 2024 at 04:15 pm EDT
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Summit Materials, Inc. reported earnings results for the first quarter ended March 30, 2024. For the first quarter, the company reported revenue was USD 805.02 million compared to USD 435.39 million a year ago. Net loss was USD 67.27 million compared to USD 31.21 million a year ago.
Basic loss per share from continuing operations was USD 0.4 compared to USD 0.26 a year ago. Diluted loss per share from continuing operations was USD 0.4 compared to USD 0.26 a year ago.
Summit Materials, Inc. is a producer of aggregates and cement with vertically integrated operations that supply ready-mix concrete and asphalt in select markets. The Companyâs West segment consists of its West and South regions, and includes operations in Texas, Utah, Arizona, Colorado, Idaho, Wyoming, Oklahoma, Arkansas and British Columbia, Canada. The West segment supplies aggregates, ready-mix concrete, asphalt paving mix and paving and related services. Its East segment consists of its East and Central regions and serves markets extending across the Midwestern and Eastern United States, notably in Kansas, Missouri, Virginia, Florida, North Carolina, South Carolina, Georgia, and Nebraska where it supplies aggregates, ready-mix concrete, asphalt paving mix and paving and related services. Its Cement segment consists of its Hannibal, Missouri and Davenport, Iowa cement plants and nine distribution terminals along the Mississippi River from Minnesota to Louisiana.