Summit Materials SUM is set to give its latest quarterly earnings report on Wednesday, 2023-08-02. Here's what investors need to know before the announcement.
Analysts estimate that Summit Materials will report an earnings per share (EPS) of $0.58.
Summit Materials bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Past Earnings Performance
Last quarter the company beat EPS by $0.10, which was followed by a 5.22% increase in the share price the next day.
Here's a look at Summit Materials's past performance and the resulting price change:
| Quarter | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|
| EPS Estimate | -0.36 | 0.29 | 0.71 | 0.55 |
| EPS Actual | -0.26 | 0.32 | 0.70 | 0.59 |
| Price Change % | 5.22% | -6.84% | 4.49% | 6.8% |
Stock Performance
Shares of Summit Materials were trading at $36.18 as of July 31. Over the last 52-week period, shares are up 35.54%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release.
To track all earnings releases for Summit Materials visit their earnings calendar on our site.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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