Eagle sales soar in Q4

Eagle Materials reported a company record fourth quarter 2021 revenue of $343 million, rising 12% from revenue of $305 million in the prior fourth quarter.

For the full year, Eagle posted revenue of $1.6 billion, increasing 16% from revenue of $1.4 billion in the previous year. 

Fiscal 2021 revenue in the company’s heavy materials sector, which includes cement, concrete, and aggregates was $1.1 billion, a 19% improvement.  

Revenue in the light materials sector, which includes gypsum wallboard and paperboard, increased 5%, reflecting improved wallboard sales volume and pricing.

The Dallas, Texas-based company also posted net earnings of $334 million for the full year, up 379%.

Net earnings for the fourth quarter fell 9% to $66 million. 

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The Bottom Line: Eagle earnings soar 379% for the year but dip 9% in the fourth quarter.

What the CEO said: “Across all measures, fiscal 2021 was extraordinary for Eagle as we met and overcame challenges that were inconceivable just a year earlier,” said Michael Haack, president and CEO of Eagle Materials. “The resilience of our business model, our financial discipline and our team’s operational and strategic execution allowed us to deliver record financial results, integrate the largest acquisition in the company’s history and further streamline our business portfolio by divesting several non-core businesses, all while achieving industry-leading safety performance.”

Company info: The full fourth quarter 2021 financial report from Eagle Materials is available here.