Summit Materials Set to Announce Q1 2023 Financial Results with High Expectations on May 2nd
May 5, 2023
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Summit Materials ($NYSE:SUM) is one of the leading producers of high-quality construction materials in the industry and its stock has been climbing steadily in recent years. As such, the company is eagerly anticipating the release of its Q1 2023 financial results on May 2, 2023, and the expectations are high. The company is confident that its financial performance will be solid and will likely exceed analyst estimates. If this comes to fruition, it would mark the fourth consecutive quarter of growth for the company, which would provide a boost to both short-term and long-term investors.
In addition, Summit Materials is expected to report positive momentum in terms of customer satisfaction and efficiency in operations. These two factors are essential in providing consistent and reliable returns for shareholders. Overall, everyone is looking forward to Summit Materials’ announcement on May 2, 2023, as it has the potential to set the tone for the rest of the year and beyond. The company has made great strides in becoming an industry leader, and the upcoming financial results could be a major milestone for Summit Materials.
Share Price
On Wednesday, SUMMIT MATERIALS stock opened at $27.7 and closed at $27.4, a decrease of 0.7% from the prior closing price of 27.6. Analysts are optimistic that the company will report higher earnings than in the previous quarter, as demand for building materials remains strong. This will be the first financial release since SUMMIT MATERIALS completed its acquisition of certain assets from Argonaut in March, which further expanded its presence in the construction materials industry. Many investors are eagerly awaiting the financials in order to get a better perspective on the company’s performance and see if their investments are paying off. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Summit Materials. More…
| Total Revenues | Net Income | Net Margin |
| 2.43k | 275.63 | 6.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Summit Materials. More…
| Operations | Investing | Financing |
| 301.15 | -13.14 | -194.39 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Summit Materials. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.21k | 2.23k | 16.56 |
Key Ratios Snapshot
Some of the financial key ratios for Summit Materials are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 2.5% | 6.6% | 18.9% |
| FCF Margin | ROE | ROA |
| 1.2% | 14.4% | 6.8% |
Analysis
As GoodWhale, we recently performed an analysis of SUMMIT MATERIALS’ wellbeing. Our Star Chart showed us that SUMMIT MATERIALS has a high health score of 8/10 with regard to its cashflows and debt, which means that it is capable to sustain future operations in times of crisis. Additionally, we found that the company is strong in asset, medium in growth, profitability and weak in dividend. Based on our analysis, we concluded that SUMMIT MATERIALS is classified as an ‘elephant’, a type of company that is rich in assets after deducting off liabilities. Investors who are looking for long-term stability could be interested in such a company, as it is well-positioned to weather any economic downturns. More…
Peers
In the construction materials industry, there is intense competition between Summit Materials Inc and its main competitors JK Lakshmi Cement Ltd, Prism Johnson Ltd, and Shree Cement Ltd. All four companies are striving to gain market share and improve their financial performance.
– JK Lakshmi Cement Ltd ($BSE:500380)
JK Lakshmi Cement Ltd is an Indian cement company. The company has a market cap of 62.76B as of 2022 and a return on equity of 18.75%. JK Lakshmi Cement is a part of the JK Organisation, which is one of the largest business groups in India. The company manufactures and markets cement and other construction materials. It has a network of over 6,000 dealers and distributors across India. The company has 11 manufacturing plants in India and a market share of about 4%.
– Prism Johnson Ltd ($BSE:500338)
Prism Johnson Ltd is one of the largest diversified business groups in India with a market cap of 61.99B as of 2022. The company has a Return on Equity of 11.43%. The company has a diversified business portfolio with interests in cement, textile, paper, and chemicals. The company has a strong presence in the Indian market and is one of the leading players in the cement and textile industries.
– Shree Cement Ltd ($BSE:500387)
Shree Cement Ltd. is an Indian cement manufacturing company established in Beawar, Ajmer district, Rajasthan in the year 1979. The company has a market cap of 755.51B as of 2022 and a Return on Equity of 7.65%. The company produces Ordinary Portland Cement, Portland Pozzolana Cement, and Portland Slag Cement. It also provides ready mix concrete and other value-added products and services. The company has a presence in India, the United Arab Emirates, Bahrain, Bangladesh, and Sri Lanka.
Summary
Summit Materials is expected to release their Q1 2023 financial results on May 2, 2023. Investors are expecting positive returns due to the company’s solid performance in recent years. Analysts have given Summit Materials a Buy rating based on their strong balance sheet, increasing revenue, and low debt levels.
The company has also seen increased investment from institutional investors and analysts believe this could be a long-term growth opportunity. Investors should watch for the upcoming financial results to determine whether Summit Materials is a good buy.
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