Summit Materials sees record adjusted EBITDA 11 May 2021
USA-based Summit Materials has reported a US$25.5m net loss in the first quarter of 2021, compared to the US$45m in the year-ago period. Its net revenue advanced 16.4 per cent YoY to US$398.5m from US$342.4m in the 1Q20.
The adjusted EBITDA also surged 166 per cent YoY to US$41.7m from US$15.7m in the January-March 2020 period.
Sales volumes increased 20.7 per cent in aggregates, 13.7 per cent in cement, 7.6 per cent in ready-mix concrete and 15.9 per cent in asphalt, on the back of strong demand in most of its markets. Average cement selling prices also saw a marginal improvement of 0.4 per cent YoY.
Summit Materials announces 13% increase in revenue 24 February 2021
USA-based Summit Materials has reported a 13 per cent YoY increase in net revenue for the final quarter of 2020 to US$571.9m, compared to US$506.3m in the 4Q19. Net income remained fairly consistent YoY at US$35.2m from US$35.7m.
Adjusted EBITDA increased 7.8 per cent YoY in the 4Q20 to US$130.6m against US$121.1m in the year-ago period.
Sales volumes increased 24.7 per cent YoY in aggregates, 4.5 per cent in cement and 6.4 per cent in ready-mix concrete for the 4Q20. Inclusive of acquisitions, average selling prices decreased 6.2 per cent in aggregates, increased 2.8 per cent in cement and 3.2 per cent in ready-mix concrete.