SUM - Summit Materials beats Q1 top and bottom line estimates; raises FY23 Adjusted EBITDA outlook
2023-05-03 17:08:14 ET
- Summit Materials press release ( NYSE: SUM ): Q1 GAAP EPS of -$0.26 beats by $0.13 .
- Revenue of $407.27M (+3.8% Y/Y) beats by $10.66M .
- Outlook: For the full year 2023, Summit is raising its Adjusted EBITDA guidance to reflect performance over the first three months and improved outlook assumptions. The Company is now projecting Adjusted EBITDA of approximately $490 million to $530 million, up from the previous outlook of $480 million to $520 million. Summit currently projects 2023 capital expenditures of approximately $220 million to $240 million including greenfield projects.
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Summit Materials beats Q1 top and bottom line estimates; raises FY23 Adjusted EBITDA outlook