NEW YORK (TheStreet) -- Shares of Summit Materials (SUM) - Get Report are gaining by 3.66% to $15.31 on heavy trading volume in late afternoon trading on Thursday, after the company reported its 2015 fourth quarter earnings.
Before today's market open, the Denver-based construction materials company reported adjusted earnings of 34 cents per diluted share, exceeding analysts' estimates for earnings of 25 cents per share.
Revenue for the period rose by 22.3% to $359.5 million, but was slightly lower than analysts' expectations of $359.7 million.
"2015 marked a significant year of progress for our company, in which we meaningfully enhanced our materials exposure, improved our capital position and met or exceeded nearly all our core operating metrics," CEO Tom Hill said in a statement this morning.
About 1.69 million of the company's shares were traded by today, much higher than its average volume of 770,069 shares per day.