Summit Materials, Inc. Provides Preliminary Unaudited Consolidated Financial Guidance for the Fourth Quarter and Year Ended December 31, 2016
January 05, 2017 at 04:46 pm
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Summit Materials, Inc. provided preliminary unaudited consolidated financial guidance for the fourth quarter and year ended December 31, 2016. For the quarter, the company expects revenue of $406.9 million to $423.9 million, net revenue of $374.1 million to $391.1 million, operating income of $48.4 million to $52.4 million, net income of $19.9 million to $22.9 million, adjusted EBITDA of $95.7 million to $100.7 million, basic and diluted net income per share of class A common stock of $0.15 to $0.19 and adjusted net income per share of class A common stock of $0.20 to $0.23. The company expects EBITDA of $90,791,000 to $95,791,000 and adjusted EBITDA of $95,700,000 to $100,700,000. The company expects gross margin (exclusive of items shown separately) of 38.2% to 38.3%.
For the year, the company expects revenue of $1,610.0 million to $1,627.0 million, net revenue of $1,475.0 million to $1,492.0 million, operating income of $153.8 million to $157.8 million,
net income of $60.0 million to $63.0 million, adjusted EBITDA of $365.0 million to $370.0 million, diluted net income per share of class A common stock of $0.60 to $0.63, and adjusted net income per share of class A common stock of $0.97 to $1.00. The company expects EBITDA of $303,423,000 to $308,423,000 and adjusted EBITDA of $365,000,000 to $370,000,000. The company expects gross margin (exclusive of items shown separately) of 37.2% to 37.2%.
Summit Materials, Inc. is a producer of aggregates and cement with vertically integrated operations that supply ready-mix concrete and asphalt in select markets. The Companyâs West segment consists of its West and South regions, and includes operations in Texas, Utah, Arizona, Colorado, Idaho, Wyoming, Oklahoma, Arkansas and British Columbia, Canada. The West segment supplies aggregates, ready-mix concrete, asphalt paving mix and paving and related services. Its East segment consists of its East and Central regions and serves markets extending across the Midwestern and Eastern United States, notably in Kansas, Missouri, Virginia, Florida, North Carolina, South Carolina, Georgia, and Nebraska where it supplies aggregates, ready-mix concrete, asphalt paving mix and paving and related services. Its Cement segment consists of its Hannibal, Missouri and Davenport, Iowa cement plants and nine distribution terminals along the Mississippi River from Minnesota to Louisiana.
SUMMIT MATERIALS, INC. 
