American essayist and novelist Charles Dudley Warner is known for making the famous remark, “Everybody talks about the weather, but nobody does anything about it.” Mark Twain liked it so much he stole it and everyone now attributes it to him. No matter who said it, the remark is spot on. But what can we do about it? We better…
Read MoreTag: Summit Materials
First Look – September 2024
TOP NEWS Summit MaterialsSummit Materials Inc. announced results for the second quarter ended June 29, reporting that net revenue increased $395.1 million, or 58.1%, in the second quarter to $1,075.5 million. In the quarter, $464.0 million of net revenue was due to acquisitions, primarily the Argos USA transaction Martin Marietta MaterialsMartin Marietta Materials Inc. reported results for the second quarter…
Read MoreSummit by Segment
Aug. 7, 2024 – Summit Materials’ net revenue increased $395.1 million, or 58.1%, in the second quarter to $1,075.5 million. In the quarter, $464.0 million of net revenue was due to acquisitions, primarily the Argos USA transaction. Geographically, the West Segment operating income decreased $3.9 million to $70.7 million. Adjusted EBITDA decreased $2.9 million, or 2.8%, to $101.6 million in the second quarter largely…
Read MoreSummit Rides Argos Acquisition, Organic Pricing Growth to Strong Second Quarter
Summit Materials Inc. announced results for the second quarter ended June 29, reporting that net revenue increased $395.1 million, or 58.1%, in the second quarter to $1,075.5 million. In the quarter, $464.0 million of net revenue was due to acquisitions, primarily the Argos USA transaction. Divestitures decreased net revenue by $46.6 million in the period. All lines of business experienced organic…
Read MoreFirst Look – June 2024
TOP NEWS Summit MaterialsSummit Materials, Inc. announced results for the first quarter ended March 30. Net revenue increased $366.0 million, or 89.9% in the first quarter to $773.2 million, including the partial quarter impact of the Argos USA assets. In the quarter, $378.5 million of revenue was recognized from recent acquisitions which more than offset a decrease of $21.7 million…
Read MoreSummit’s Argos Acquisition Powers Strong First Quarter
Summit Materials, Inc. announced results for the first quarter ended March 30. Net revenue increased $366.0 million, or 89.9% in the first quarter to $773.2 million, including the partial quarter impact of the Argos USA assets. In the quarter, $378.5 million of revenue was recognized from recent acquisitions which more than offset a decrease of $21.7 million in net revenue…
Read MoreNSSGA Holds Successful 2024 Young Leaders Meeting
The National Stone, Sand & Gravel Association (NSSGA) convened its 2024 Annual Young Leaders Meeting in San Antonio. The meeting, held April 28-May 1, attracted more than 338 participants from across the country. This is the aggregates industry’s premier opportunity for professionals under the age of 40 to learn more about the industry, build leadership skills and grow a strong…
Read MoreSRM Materials Acquires Texas Quarry from Summit Materials
SRM Materials has acquired XIT Sand & Gravel in Channing, Texas, from Summit Materials. SRM Materials President Ryan Hollingshead stated, “We’re looking forward to welcoming this great group of team members aboard and partnering with them to produce and supply quality aggregate to the Texas panhandle.” Located approximately 60 miles northwest of Amarillo, this acquisition marks SRM Materials’ third aggregate…
Read MoreFirst Look – March 2024
FIRST LOOK TOP NEWSVulcan MaterialsVulcan Materials Co. announced results for the quarter and year ended Dec. 31, 2023, reporting total revenues of $1.83 billion in the fourth quarter versus $1.73 billion in the fourth quarter of 2022; and $7.78 billion for full-year 2023 versus $7.32 billion for full-year 2022. Summit MaterialsSummit Materials Inc. announced results for the fourth quarter and…
Read MoreSummit Establishes Annual Records for Revenue, Profitability
Summit Materials Inc. announced results for the fourth quarter and full year ended Dec. 30, 2023. Net revenue increased $220.7 million, or 9.9%, in 2023 to $2.4 billion, as strong pricing across all lines of business and contributions from acquisitions more than offset lower volumes and the impact of divestitures. Operating income increased $41.6 million, or 15.5% in 2023 to…
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