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A Look at Summit Materials's Upcoming Earnings Report

Summit Materials (NYSE:SUM) is preparing to release its quarterly earnings on Wednesday, 2024-10-30. Here's a brief overview of what investors should keep in mind before the announcement.

Analysts expect Summit Materials to report an earnings per share (EPS) of $0.71.

The market awaits Summit Materials's announcement, with hopes high for news of surpassing estimates and providing upbeat guidance for the next quarter.

It's important for new investors to understand that guidance can be a significant driver of stock prices.

Earnings Track Record

Last quarter the company beat EPS by $0.01, which was followed by a 3.1% increase in the share price the next day.

Here's a look at Summit Materials's past performance and the resulting price change:

Quarter

Q2 2024

Q1 2024

Q4 2023

Q3 2023

EPS Estimate

0.65

-0.23

0.26

0.75

EPS Actual

0.66

-0.12

0.31

0.81

Price Change %

3.0%

-0.0%

5.0%

-1.0%

Summit Materials Share Price Analysis

Shares of Summit Materials were trading at $45.63 as of October 28. Over the last 52-week period, shares are up 34.11%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release.

Analysts' Perspectives on Summit Materials

For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on Summit Materials.

With 10 analyst ratings, Summit Materials has a consensus rating of Buy. The average one-year price target is $47.5, indicating ...