Rock Products

DEC 2018

Rock Products is the aggregates industry's leading source for market analysis and technology solutions, delivering critical content focusing on aggregates-processing equipment; operational efficiencies; management best practices; comprehensive market

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12 • ROCKproducts • December 2018 www.rockproducts.com I N D U S T RY N E W S IN THE KNOW Summit Materials Inc. reported that for the three months ended Sept. 29, the company achieved net income attrib- utable to Summit Inc. of $71.3 million or $0.64 per basic share, compared to net income attributable to Summit Inc. of $81.3 million or $0.74 per basic share in the comparable prior-year period. Summit reported adjusted diluted net income of $61.9 million or $0.54 per adjusted diluted share as compared to adjusted diluted net income of $54.0 million or $0.48 per adjusted diluted share in the prior-year period. The company reported operating income of $108.2 million in the third quarter 2018, compared to $113.9 mil- lion in the prior year period. Adjusted EBITDA was $172.0 million in the third quarter 2018, compared to $172.7 mil- lion in the prior-year period. Net revenue increased by 8.8 percent to $625 million in the third quarter 2018, versus $574.4 million in the prior-year period. The improvement in net revenue was primarily attributable to both organic and acquisition-related contributions in the East and West segments, offset by a decline in the Cement segment. Summit's net revenue increased 11.6 percent in the first nine months of 2018 as compared to the same period in 2017, primarily due to acquisitions. Two bolt-on acquisitions have been completed since the company's last update. • Walker Sand & Gravel (Idaho). Walker Sand & Gravel is an aggregates business that expands the company's FAST FACT Net revenue increased by 8.8 percent to $625 mil- lion in the third quarter 2018, versus $574.4 million in the prior-year period. Summit Materials Impacted by Inclement Weather in Third Quarter

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