Summit Materials, Inc. Releases Preliminary Financial Results for the Year Ended December 31, 2024

Summit Materials, Inc. (NYSE: SUM) has disclosed selected preliminary estimates of its consolidated financial data for the year ended December 31, 2024, in a recent filing with the Securities and Exchange Commission. These preliminary estimates are subject to the completion of the company’s financial closing procedures and final adjustments.

The estimates for the year ended December 31, 2024, are as follows:
– Net revenue: Estimated to be in the range of $3,900 million to $3,950 million
– Adjusted EBITDA: Expected to range from $999 million to $1,004 million, with an associated margin of 25.0% to 25.5%
– Capital expenditures: Anticipated in the range of $380 million to $385 million
– Total debt: Forecasted to be between $2,800 million and $2,810 million
– Cash on hand: Expected to be in the range of $800 million to $820 million

In assessing the operational performance of the business, Summit Materials utilizes adjusted EBITDA, which is defined as income from operations before taxes adjusted for various items. These adjustments include interest expense, depreciation, depletion, accretion and amortization, among others.

It is important to note that adjusted EBITDA has limitations as an analytical tool and is not a substitute for net income or net loss determined in accordance with U.S. Generally Accepted Accounting Principles (GAAP). The reconciliation of income from operations before taxes to adjusted EBITDA for the year ended December 31, 2024, is included in the filing.

Furthermore, Summit Materials also provided forward-looking statements as part of the filing, emphasizing the risks and uncertainties involved in relying on such statements. The company highlighted that actual results may differ materially from projected outcomes due to various factors, including those detailed in the company’s prior filings with the SEC.

Summit Materials indicated that the information furnished in the filing is not to be considered “filed” for Securities Exchange Act purposes and should not be incorporated by reference in any filings apart from those expressly stated. Interested parties are advised to review the filing for additional information regarding the company’s Merger Agreement and related solicitation activities.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Summit Materials’s 8K filing here.

About Summit Materials

Summit Materials, Inc is a vertically integrated construction materials company, which engages in manufacturing construction materials and related downstream products. It operates through the following segments: West, East, and Cement. The West segment includes operations in Texas, Utah, Arizona, Colorado, Idaho, Wyoming, Oklahoma, Arkansas and British Columbia, Canada.