Summit’s Hill to Step Down; Noonan Named President

Summit Materials Inc. announced that Thomas W. Hill plans to step down from his role as president and chief executive officer and as a member of the board, effective Sept. 1. At that time, Anne Noonan will be appointed president and chief executive officer and as a member of the board. Hill will serve as a senior advisor through the end of…

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Summit Materials Climbs to Record Second Quarter

Summit Materials Inc. announced record results for the second quarter 2020. For the three months ended June 27, the company reported net income attributable to Summit Inc. of $57.1 million, or $0.50 per basic share, compared to net income attributable to Summit Inc. of $36.4 million, or $0.32 per basic share in the comparable prior year period. Summit reported adjusted diluted net…

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FIRST LOOK – JUNE 2020

TOP NEWS Summit Materials’ Aggregates Volumes Increase Summit Materials Inc. reported that net revenue increased by 11.9% to $342.4 million in the first quarter 2020, versus $306.0 million in the prior-year period. The improvement in net revenue was primarily attributable to organic volume and price growth in ready-mix concrete and aggregates. Martin Marietta Reports Strong First Quarter Martin Marietta Materials…

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Summit Evaluates Direction Forward

April 29, 2020 – While COVID-19 is not having a major impact – yet – on current business conditions, companies are certainly putting future plans on hold and evaluating expansion opportunities. Summit Materials in its first-quarter report noted, “Summit is withdrawing its previously announced 2020 Adjusted EBITDA guidance until the company has better visibility into the extent of economic disruption related…

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FIRST LOOK – MARCH 2020

TOP NEWS Martin Marietta Reports Most Profitable Year in Its History Martin Marietta Materials Inc. reported fourth quarter 2019 revenues of $1,100,430, up from $1,020,218 in the fourth quarter of 2018. Full-year 2019 revenues were $4,739,098, up from $4,244,265 in 2018. Sandbrook to Retire U.S. Concrete Inc. announced that William J. Sandbrook has notified the company’s board of directors of…

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Summit Materials Details Strong Quarterly, Yearly Results

Summit Materials Inc. announced results for the fourth quarter and full year 2019. For the three months ended Dec. 28, 2019, the company reported net income attributable to Summit Inc. of $35.7 million, or $0.32 per basic share, compared to a net loss attributable to Summit Inc. of $19.2 million, or $(0.17) per basic share in the comparable prior-year period. 

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FIRST LOOK – DECEMBER 2019

TOP NEWS Vulcan Materials Vulcan Materials Co. announced third-quarter total revenues of $1.419 billion, up from $1.240 billion in 2018; and year-to-date total revenues of $3.743 billion, up from $3.295 billion in 2018. Summit Materials On a year-to-date basis through Sept. 28, Summit’s net revenue increased 4.1% over the comparable 2018 period. Adjusted EBITDA increased 8.8% to $340.4 million for the first nine months…

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Summit: Behind the Numbers

Oct. 31, 2019 – Summit Materials reported third-quarter numbers, and aggregates net revenues increased by 25.5% to $137.5 million in the third quarter 2019, when compared to the prior-year period. Organic aggregates sales volumes increased 11.4% in the third quarter 2019, when compared to the prior-year period on higher organic volume growth in both the East and West segments. Operating income across…

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