Summit Sees Little Weather Disruption in the Second Quarter; Acquisitions Remain Key Growth Driver
Compared with peers Martin Marietta and Vulcan Materials, Summit Materials did not see the same weather-related challenges in its footprint during the second quarter. Of the $135 million of incremental adjusted EBITDA in the second quarter, roughly one third was organic. Successful price increases and wider margins drove growth. Second-quarter results largely met expectations, so guidance for full-year adjusted EBITDA excluding acquisitions was unchanged. However, companywide guidance was increa...Summit Materials is a holding company. Through its subsidiaries, the company is a construction materials company. The company produces and sells aggregates, cement, ready-mix concrete, asphalt paving mix and concrete products and owns and operates quarries, sand and gravel pits, cement plants, cement distribution terminals, ready-mix concrete plants, asphalt plants and landfill sites. The company is engaged in paving and related services. The company has operations in various states across the United States and in British Columbia, Canada. The company operates a municipal waste landfill in its East segment, and has construction and demolition debris landfills and liquid asphalt terminal operations in its West and East segments.
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