Summit Materials Inc. announced results for the second quarter ended July 2. Net revenue increased $13.4 million, or 2.2% in the second quarter to $631.9 million, due to increases in average sales prices across all lines of business that more than offset volume declines due primarily to divestitures.
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Summit Materials Divests Hinkle Contracting
Summit Materials Inc. announced the divestiture of Kentucky-based Hinkle Contracting Co. LLC to an affiliate of CRH Americas Materials Inc. Hinkle Contracting owns and operates asphalt plants, rock quarries and paving operations. Hinkle also owns Kentucky Hauling Inc., Bourbon Limestone, and Ohio Valley Asphalt LLC. In addition, Hinkle is a joint venture partner in Nally & Gibson and Hamilton Hinkle.…
Read MoreSummit Materials Appoints Ghelani Chief Strategy and Growth Officer
Summit Materials Inc. appointed Kekin Ghelani as the company’s first-ever chief strategy and growth officer. Ghelani brings a wealth of experience in strategy, corporate development, marketing, branding, IT and innovation.
Read MoreSummit Materials Aggregates Revenues Rise in Down Quarter
Summit Materials Inc. announced results for the first quarter ended April 2, reporting Net Revenue decreased $6.0 million, or 1.5% in the first quarter to $392.5 million, primarily resulting from divestitures completed in 2021, partially offset by increases in average sales prices. Operating loss increased $9.2 million, or 36.9% in the first quarter to $34.3 million, as timing of price…
Read MoreSummit Materials Announces Climate, Inclusion Targets
Summit Materials Inc. announced the publication of its 2021 Environmental, Social and Governance Report and its inaugural Diversity, Equity and Inclusion Report. These reports provide an update on the company’s progress toward its environmental, social and governance initiatives and outline its updated long-term goals. CEO of Summit Materials, Anne Noonan, commented, “Our three North Star Pillars of Human/Social Impact, Land…
Read MoreSummit Materials Announces Executive Changes
Summit Materials Inc. announced two executive changes effective March 1. Tom Beck will become executive vice president, Summit Materials; and David Loomes will assume the role of Continental Cement Co. (CCC) president and senior vice president of Summit Materials, as part of the company’s planned and proactive leadership succession.
Read MoreSummit Sets Record for Revenues, Income in 2021
Summit Materials Inc. announced results for the fourth quarter and full year ended Jan. 1. Net revenue was down in the fourth quarter but higher for the full year 2021.
Read MoreConcrete-AI Seeks Reduction of Cost, Carbon Footprint of Concrete
Concrete-AI, a data science company, announced it has raised $2 million in a seed financing round with participation by the Grantham Foundation for the Protection of the Environment, a prominent family office and other marquee investors. This financing will accelerate the rollout of Concrete-AI’s pioneering data science platform that uses artificial intelligence (AI) and machine learning (ML) to optimize supply chains…
Read MoreSummit Aggregates Revenues Rise
Summit Materials Inc. announced results for the third quarter 2021. For the three months ended Oct. 2, the company reported net income attributable to Summit Inc. of $74.2 million, or $0.63 per basic share, compared to net income attributable to Summit Inc. of $90.7 million, or $0.79 per basic share in the comparable prior year period.
Read MoreSummit Materials: West Versus East
August 5, 2021 – Summit Materials Inc. released its second-quarter report, revealing aggregates sales volumes increased 14.7% in the second quarter of 2021 when compared to the prior year period on organic growth in both its West and East segments.
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