Summit Materials Sees FY24 Adj. EBITDA ~950M-$1.010B; Capital Expenditures ~$430M-$470M
Portfolio Pulse from Benzinga Newsdesk
Summit Materials projects its FY24 adjusted EBITDA to be approximately $950M-$1.010B, with capital expenditures estimated to be around $430M-$470M.
February 14, 2024 | 9:17 pm
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POSITIVE IMPACT
Summit Materials anticipates its FY24 adjusted EBITDA to range between $950M and $1.010B, with expected capital expenditures of $430M to $470M.
The projection of a high adjusted EBITDA for FY24 suggests a positive outlook for Summit Materials, indicating operational efficiency and profitability. This financial health signal is likely to instill confidence in investors, potentially leading to a short-term positive impact on the stock price. The planned capital expenditures indicate strategic investments for growth, further supporting a positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100