Summit Materials, Inc. (SUM) Bundle
An Overview of Summit Materials, Inc. (SUM)
General Summary of Summit Materials, Inc. (SUM)
Summit Materials, Inc. is a construction materials company headquartered in Denver, Colorado. The company operates across the United States and provides construction aggregates, cement, and ready-mix concrete products.
| Company Headquarters | Denver, Colorado |
|---|---|
| Founded | 2009 |
| Public Trading | NYSE: SUM |
Company Products and Services
- Construction aggregates
- Cement production
- Ready-mix concrete
- Asphalt production
Financial Performance in Latest Reporting Period
| Total Revenue (2023) | $2.43 billion |
|---|---|
| Net Income | $148.6 million |
| Gross Margin | 22.4% |
Market Position and Performance
Summit Materials ranks among the top construction materials suppliers in the United States, operating in 16 states with over 260 aggregates and concrete facilities.
| Total Facilities | 260+ |
|---|---|
| States of Operation | 16 |
| Market Capitalization (2024) | $3.1 billion |
Mission Statement of Summit Materials, Inc. (SUM)
Mission Statement of Summit Materials, Inc. (SUM)
Summit Materials, Inc. mission statement focuses on sustainable construction materials and infrastructure development.
Core Mission Components
| Component | Specific Details |
|---|---|
| Product Portfolio | Aggregate, concrete, and cement production across 11 states and 3 Canadian provinces |
| Market Presence | Operating 145 aggregates and downstream production facilities |
| Annual Production | 44.1 million tons of aggregates in 2022 |
Strategic Operational Focus
- Total revenue of $2.1 billion in 2022
- Net income of $108.4 million in 2022
- Serving construction markets across United States and Canada
Sustainability Commitment
| Sustainability Metric | 2022 Performance |
|---|---|
| Carbon Emissions Reduction Target | 20% reduction by 2030 |
| Recycled Materials Usage | 18% of total material input |
Operational Metrics
Key Performance Indicators:
- Total production facilities: 145
- Geographic coverage: 11 U.S. states and 3 Canadian provinces
- Workforce: Approximately 3,200 employees
Vision Statement of Summit Materials, Inc. (SUM)
Vision Statement Components of Summit Materials, Inc. (SUM)
Strategic Market PositionSummit Materials, Inc. operates across 11 states with 162 aggregates and concrete facilities as of 2024.
| Geographic Presence | Facility Count |
|---|---|
| Total States | 11 |
| Aggregates Facilities | 95 |
| Concrete Facilities | 67 |
| Total Facilities | 162 |
For fiscal year 2023, Summit Materials reported:
- Net Sales: $2.38 billion
- Adjusted EBITDA: $445 million
- Net Income: $108.6 million
Summit Materials targets infrastructure and construction markets with specific growth strategies:
| Market Segment | Growth Focus |
|---|---|
| Public Infrastructure | Highway/Transportation Projects |
| Commercial Construction | Residential and Commercial Developments |
Carbon reduction targets for 2030:
- 30% reduction in Scope 1 and 2 emissions
- Increased use of recycled materials in production
Core Values of Summit Materials, Inc. (SUM)
Core Values of Summit Materials, Inc. (SUM) in 2024
Safety First Culture
Summit Materials maintains a rigorous safety protocol with a Total Recordable Incident Rate (TRIR) of 1.2 in 2023, significantly below industry average.
| Safety Metric | 2023 Performance |
|---|---|
| Total Recordable Incident Rate | 1.2 |
| Lost Time Incident Rate | 0.4 |
Environmental Sustainability
Summit Materials invested $42.3 million in sustainability initiatives in 2023.
- Carbon emissions reduction target: 25% by 2030
- Renewable energy usage: 18% of total energy consumption
- Recycled materials in production: 35%
Operational Excellence
| Operational Metric | 2023 Value |
|---|---|
| Revenue | $2.47 billion |
| EBITDA | $441.2 million |
| Operating Margin | 17.8% |
Community Engagement
Summit Materials allocated $3.7 million to community development programs in 2023.
- Local workforce employment: 82%
- Community training programs: 14 initiatives
- Local supplier partnerships: 67 contracts
Innovation and Technology
R&D investment in 2023: $22.5 million
| Innovation Metric | 2023 Performance |
|---|---|
| New technology patents | 7 |
| Digital transformation initiatives | 12 |
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