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How Summit Materials finished 2021

By |  February 25, 2022

Logo: Summit Materials

Summit Materials reported its fourth-quarter 2021 results, detailing that net revenues tied to aggregates increased slightly.

Summit’s adjusted cash gross profit margin in aggregates, however, decreased slightly while aggregate sales volumes dipped 5.5 percent.

For all of 2021, Summit says net revenues tied to aggregates increased by 75.2 million to $573.2 million. Adjusted cash gross profit margin tied to aggregates increased slightly, and aggregate sales volumes jumped 8.6 percent with the company noting organic growth in both its East and West segments.

By market, Summit says full-year 2021 aggregate volume growth in the Intermountain West, Virginia, Carolinas, Georgia and British Columbia, Canada, was partially offset by lower volumes in Kentucky. Average selling prices for aggregates increased 3.6 percent in 2021, Summit adds, with strong growth across its East and West segments.

Companywide, Summit says its full-year 2021 net revenue increased 4.6 percent, or $97.9 million. Adjusted EBITDA (earnings before interest, tax, depreciation and amortization) was up 7.8 percent, or $37.8 million, for the full year.

“Today we are setting new annual records for net revenue, net income, adjusted cash gross profit and adjusted EBITDA,” says Anne Noonan, CEO of Summit Materials.

Kevin Yanik

About the Author:

Kevin Yanik is the editor-in-chief of Pit & Quarry magazine. Yanik can be reached at 216-706-3724 or kyanik@northcoastmedia.net.

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