Wall Street analysts forecast that Summit Materials (SUM) will report quarterly earnings of $0.27 per share in its upcoming release, pointing to a year-over-year decline of 15.6%. It is anticipated that revenues will amount to $565.99 million, exhibiting an increase of 10.6% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 66.7% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Summit Materials metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts forecast 'Net Revenues by product- Aggregates' to reach $141.73 million. The estimate suggests a change of +4.5% year over year.
The consensus among analysts is that 'Net Revenues by product- Cement' will reach $98.33 million. The estimate points to a change of +8.5% from the year-ago quarter.
The consensus estimate for 'Service' stands at $66.63 million. The estimate suggests a change of +4.3% year over year.
Analysts predict that the 'Net Revenue by Line of Business- Products' will reach $260.63 million. The estimate points to a change of +17.7% from the year-ago quarter.
The average prediction of analysts places 'Pricing - Aggregates' at $13.83. The estimate compares to the year-ago value of $12.70.
Based on the collective assessment of analysts, 'Total Volume - Cement' should arrive at 628.67 Ton. Compared to the present estimate, the company reported 646 Ton in the same quarter last year.
The combined assessment of analysts suggests that 'Total Volume - Aggregates' will likely reach 12,520.92 Ton. The estimate is in contrast to the year-ago figure of 13,036 Ton.
Analysts' assessment points toward 'Pricing - Cement' reaching $158.06. Compared to the present estimate, the company reported $141.77 in the same quarter last year.
Analysts expect 'Total Volume - Ready-mix concrete' to come in at 1,174.00 CuYd. The estimate compares to the year-ago value of 1,082 CuYd.
According to the collective judgment of analysts, 'Total Volume - Asphalt' should come in at 698.33 Ton. Compared to the present estimate, the company reported 683 Ton in the same quarter last year.
It is projected by analysts that the 'Pricing - Ready-mix concrete' will reach $154.22. Compared to the present estimate, the company reported $146.01 in the same quarter last year.
The collective assessment of analysts points to an estimated 'Pricing - Asphalt' of $84.53. Compared to the current estimate, the company reported $76.71 in the same quarter of the previous year.
View all Key Company Metrics for Summit Materials here>>>
Summit Materials shares have witnessed a change of +6.6% in the past month, in contrast to the Zacks S&P 500 composite's +5.8% move. With a Zacks Rank #1 (Strong Buy), SUM is expected outperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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