Summit Materials Q2 2024 Adj EPS $0.66 Beats $0.61 Estimate, Sales $1.07B Miss $1.17B Estimate
Portfolio Pulse from Benzinga Newsdesk
Summit Materials (NYSE:SUM) reported Q2 2024 adjusted EPS of $0.66, beating the estimate of $0.61. However, sales were $1.07 billion, missing the $1.17 billion estimate. Sales increased by 58% compared to the same period last year.
August 05, 2024 | 8:20 pm
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POSITIVE IMPACT
Summit Materials reported better-than-expected EPS but missed on sales estimates. Despite the sales miss, the significant year-over-year sales growth of 58% is a positive indicator.
The EPS beat is a positive sign and may boost investor confidence, but the sales miss could temper enthusiasm. The significant year-over-year sales growth is a strong positive factor.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100