Comparing the current results to its competitors, Summit Materials Inc reported Revenue increase in the 3 quarter 2024 by 47.35 % year on year. The sales growth was above Summit Materials Inc 's competitors' average revenue growth of 3.77 %, achieved in the same quarter.
Summit Materials Inc Net Income in the 3 quarter 2024 fell year on year by -54.81%, while most of its competitors have experienced a contraction in net income by -14.12 %.
Summit Materials Inc 's Comment on Competition and Industry Peers
The company is a top six supplier of aggregates, a top four producer of cement, and a significant producer of ready-mix concrete and asphalt paving mix in the United States by volume, including operations acquired from Argos USA in January 2024. Its competitors in aggregates include large vertically integrated companies with an estimated combined market share of approximately 30%, as well as various local suppliers. In cement, most U.S. producers are owned by large foreign companies operating internationally, with the company's largest competitors being large vertically integrated firms. The company operates cement plants in Hannibal, Missouri, and Davenport, Iowa, with a combined capacity of approximately 2.4 million short tons per annum, supported by a network of nine distribution terminals along the Mississippi River. Competitive factors include price, reliability, location, quality, and support services. The company has converted all of its cement production to Portland Limestone Cement to reduce CO2 emissions.
Eagle Materials Inc operates using a diverse business model focused on manufacturing and supplying building materials, primarily cement, concrete, and aggregates. The company's strategy involves vertically integrating its operations, from mining raw materials to distributing finished products. Moreover, Eagle Materials strives to provide a high level of customer service and maintain competitive pricing in the construction industry.
Vulcan Materials Company operates as a leading producer of construction aggregates, focusing on quarrying and producing materials like crushed stone, sand, and gravel. Their business model emphasizes strategic quarry locations and a robust distribution network to supply the construction industry with essential materials for infrastructure projects, including highways, buildings, and transportation development.
United States Lime and Minerals Inc Share Performance
+8.90%
This Quarter
United States Lime and Minerals Inc
Profile
United States Lime and Minerals Inc operates as a diversified supplier of lime and limestone products, with a primary focus on the industrial and construction markets. The company extracts and processes limestone from its various mines across the United States to produce lime-based products for various applications, including the steel, water treatment, and environmental industries. US Lime and Minerals primarily generates revenue by selling its products to customers in these sectors.
Smith-Midland Corporation operates as a precast concrete manufacturer and construction company. Their business model involves producing and selling a wide range of precast concrete products, including sound barriers, architectural panels, and burial vaults. They also offer installation and construction services, catering to both residential and commercial markets.
Rocky Mountain Industrials Inc (RMI) operates as a vertically integrated company in the industrial materials sector. They engage in the mining, processing, and sale of minerals, primarily targeting the infrastructure, construction, and energy markets.
Sources:
Summit Materials Inc’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: publicly traded companies.
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