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Retained earnings is the accumulated portion of net income that is not distributed to shareholders. Summit Materials's retained earnings for the quarter that ended in Mar. 2024 was $810 Mil.
Summit Materials's quarterly retained earnings increased from Sep. 2023 ($874 Mil) to Dec. 2023 ($877 Mil) but then declined from Dec. 2023 ($877 Mil) to Mar. 2024 ($810 Mil).
Summit Materials's annual retained earnings increased from Dec. 2021 ($479 Mil) to Dec. 2022 ($591 Mil) and increased from Dec. 2022 ($591 Mil) to Dec. 2023 ($877 Mil).
The historical data trend for Summit Materials's Retained Earnings can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Summit Materials Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Retained Earnings | Get a 7-Day Free Trial | 188.81 | 326.77 | 478.96 | 590.90 | 876.75 |
Summit Materials Quarterly Data | ||||||||||||||||||||
Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | |
Retained Earnings | Get a 7-Day Free Trial | 560.09 | 643.73 | 873.77 | 876.75 | 809.89 |
Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.
Of course, if a company loses, it is called retained losses, or accumulated losses.
Summit Materials (NYSE:SUM) Retained Earnings Explanation
Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.
For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.
If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.
Of course, many companies with negative retained earnings have indeed lost money in the past.
Retained Earnings: Warren Buffett's Secret.
One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.
If the company loses more than it has accumulated, retained earnings is negative.
If a company isn't adding to its retained earnings, it isn't growing its net worth.
Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.
Microsoft is negative because it chose to buyback stock and pay dividends.
The more earnings retained, the faster it grows and increases growth rate for future earnings.
Craig Scott Anderson | officer: EVP & Chief Financial Officer | 1801 CALIFORNIA STREET, SUITE 3500, DENVER CO 80202 |
Christopher Burke Gaskill | officer: See Remarks | C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 08202 |
Kekin Ghelani | officer: Chief Strategy&Growth Officer | 1550 WYNKOOP, DENVER CO 80202 |
Anne K. Wade | director | C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 80202 |
John Raymond Murphy | director | 233 S PATTERSON AVE, SPRINGFIELD MO 65802 |
Anne P Noonan | director, officer: President & CEO | 25435 HARVARD RD, BEACHWOOD OH 44122 |
Tamla Oates-forney | director | 800 CAPITOL STREET 3000, HOUSTON TX 77002 |
Deon Macmillan | officer: See Remarks | C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 08202 |
Karli S. Anderson | officer: See Remarks | 1660 WYNKOOP STREET, SUITE 1000, DENVER CO 80202 |
Howard L Lance | director | C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 80202 |
Joseph S Cantie | director | C/O DELPHI AUTOMOTIVE, 5725 DELPHI DRIVE, TROY MI 48098 |
Anne Lee Benedict | officer: See Remarks | C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 80202 |
Brian James Harris | officer: EVP & Chief Financial Officer | C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 80202 |
Mikel Shane Evans | officer: See Remarks | C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 80202 |
Longleaf Partners Funds Trust | 10 percent owner | C/O SOUTHEASTERN ASSET MANAGEMENT, 6410 POPLAR AVE, SUITE 900, MEMPHIS TN 38119 |
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