$SUM
Summit Materials, Inc.

2015 Q3 Form 10-Q Financial Statement

#000119312515364032 Filed on November 03, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3
Revenue $471.9M $394.8M
YoY Change 19.54% 24.81%
Cost Of Revenue $312.4M $285.5M
YoY Change 9.42% 26.72%
Gross Profit $159.5M $109.3M
YoY Change 45.98% 20.07%
Gross Profit Margin 33.8% 27.68%
Selling, General & Admin $42.50M $35.50M
YoY Change 19.72% 5.03%
% of Gross Profit 26.64% 32.49%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $33.70M $24.70M
YoY Change 36.44% 27.32%
% of Gross Profit 21.13% 22.61%
Operating Expenses $75.90M $58.80M
YoY Change 29.08% 12.21%
Operating Profit $83.36M $47.75M
YoY Change 74.57% 23.7%
Interest Expense $20.73M $22.09M
YoY Change -6.15% -252.31%
% of Operating Profit 24.87% 46.25%
Other Income/Expense, Net $1.171M $1.408M
YoY Change -16.83% 17.33%
Pretax Income $31.16M $27.07M
YoY Change 15.1% 10.5%
Income Tax -$2.655M -$1.038M
% Of Pretax Income -8.52% -3.83%
Net Earnings $14.71M -$7.000K
YoY Change -210257.14% -100.03%
Net Earnings / Revenue 3.12% 0.0%
Basic Earnings Per Share $0.39
Diluted Earnings Per Share $0.39 $279.9K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding 37.96M shares

Balance Sheet

Concept 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.00M $10.00M
YoY Change 90.0%
Cash & Equivalents $18.99M
Short-Term Investments
Other Short-Term Assets $21.76M $16.20M
YoY Change 34.33%
Inventory $138.0M $137.7M
Prepaid Expenses
Receivables $205.9M $179.3M
Other Receivables $700.0K $0.00
Total Short-Term Assets $418.9M $343.2M
YoY Change 22.06%
LONG-TERM ASSETS
Property, Plant & Equipment $1.276B $947.0M
YoY Change 34.77%
Goodwill $567.8M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $51.80M $51.30M
YoY Change 0.97%
Total Long-Term Assets $1.911B $1.407B
YoY Change 35.88%
TOTAL ASSETS
Total Short-Term Assets $418.9M $343.2M
Total Long-Term Assets $1.911B $1.407B
Total Assets $2.330B $1.750B
YoY Change 33.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $113.2M $87.60M
YoY Change 29.25%
Accrued Expenses $90.88M $87.50M
YoY Change 3.86%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $68.13M $28.20M
YoY Change 141.58%
Total Short-Term Liabilities $303.4M $233.4M
YoY Change 30.0%
LONG-TERM LIABILITIES
Long-Term Debt $1.148B $1.063B
YoY Change 8.01%
Other Long-Term Liabilities $114.6M $127.5M
YoY Change -10.14%
Total Long-Term Liabilities $1.263B $1.190B
YoY Change 6.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $303.4M $233.4M
Total Long-Term Liabilities $1.263B $1.190B
Total Liabilities $1.608B $1.457B
YoY Change 10.37%
SHAREHOLDERS EQUITY
Retained Earnings $4.355M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $603.1M $292.8M
YoY Change
Total Liabilities & Shareholders Equity $2.330B $1.750B
YoY Change 33.17%

Cashflow Statement

Concept 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $14.71M -$7.000K
YoY Change -210257.14% -100.03%
Depreciation, Depletion And Amortization $33.70M $24.70M
YoY Change 36.44% 27.32%
Cash From Operating Activities $62.00M $35.10M
YoY Change 76.64% -26.72%
INVESTING ACTIVITIES
Capital Expenditures -$26.30M -$14.90M
YoY Change 76.51% 12.88%
Acquisitions
YoY Change
Other Investing Activities -$486.8M -$113.5M
YoY Change 328.9% -8207.14%
Cash From Investing Activities -$513.0M -$128.5M
YoY Change 299.22% 998.29%
FINANCING ACTIVITIES
Cash Dividend Paid $23.50M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 458.3M 79.30M
YoY Change 477.93% -422.36%
NET CHANGE
Cash From Operating Activities 62.00M 35.10M
Cash From Investing Activities -513.0M -128.5M
Cash From Financing Activities 458.3M 79.30M
Net Change In Cash 7.300M -14.10M
YoY Change -151.77% -221.55%
FREE CASH FLOW
Cash From Operating Activities $62.00M $35.10M
Capital Expenditures -$26.30M -$14.90M
Free Cash Flow $88.30M $50.00M
YoY Change 76.6% -18.17%

Facts In Submission

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0001621563
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2014-09-23
dei Entity Filer Category
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Non-accelerated Filer
us-gaap Concentration Risk Credit Risk
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<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt"> <b>Business and Credit Concentrations&#x2014;</b>The Company&#x2019;s operations are conducted primarily across 18 U.S. states and in British Columbia, Canada, with the most significant revenue generated in Texas, Kansas, Kentucky, Utah and Missouri. The Company&#x2019;s accounts receivable consist primarily of amounts due from customers within these areas. Therefore, collection of these accounts is dependent on the economic conditions in the aforementioned states, as well as specific situations affecting individual customers. Credit granted within the Company&#x2019;s trade areas has been granted to many customers, and management does not believe that a significant concentration of credit exists with respect to any individual customer or group of customers. No single customer accounted for more than 10% of the Company&#x2019;s total revenue in the three and nine months ended September&#xA0;26, 2015 and September&#xA0;27, 2014.</p>
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SUMMIT MATERIALS, INC.
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us-gaap Prior Period Reclassification Adjustment Description
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<p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt"> <b>Reclassifications</b> &#x2014; Certain amounts in the prior year have been reclassified to conform to the to the current period&#x2019;s presentation.</p>
dei Document Period End Date
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us-gaap Use Of Estimates
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt"> <b>Use of Estimates</b>&#x2014;Preparation of these consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities and reported amounts of revenue and expenses. Such estimates include the valuation of accounts receivable, inventories, goodwill, intangibles and other long-lived assets, pension and other postretirement obligations and asset retirement obligations. Estimates also include revenue earned on contracts and costs to complete contracts. Most of the Company&#x2019;s paving and related services are performed under fixed unit-price contracts with state and local governmental entities. Management regularly evaluates its estimates and assumptions based on historical experience and other factors, including the current economic environment. Management adjusts such estimates and assumptions when circumstances dictate. As future events and their effects cannot be determined with precision, actual results can differ significantly from estimates made. Changes in estimates, including those resulting from continuing changes in the economic environment, are reflected in the Company&#x2019;s consolidated financial statements when the change in estimate occurs.</p> </div>
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117834000

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