Banner year for Eagle Materials
Full-year sales rise 14% to $1.4 billion for the cement and wallboard supplier.
Eagle Materials Inc., the building products manufacturer and distributor, reported record fourth quarter 2018 revenue of $284.7 million – a 2% rise from $278.7 in the fourth quarter a year ago.
For the full fiscal year, the Dallas, Texas-based company reported a record revenue of $1.4 billion. This marks a 14% increase from 2017 revenue of $1.2 billion.
Net earnings for the fourth quarter grew 2.2% to $37 million from net earnings of $36.2 million in the fourth quarter 2017. Full-year earnings soared more than 29% to $256.6 million from 2017 net earnings of $198.2 million.
Revenue in the Eagle’s heavy materials sector, which includes cement, concrete and agregates increased 12% to $807.4 million in 2018. Sales in the light materials sector, which includes gypsum wallboard and paperboard, increased 4% to $603.2 million for the year.
The company also operates an oil and gas proppants segment, reporting revenue of $85.5 million – an increase of 147%, reflecting a 170% increase in frac sand sales volume
Based in Dallas, Texas, Eagle Materials manufactures and distributes cement, aggregates, concrete, gypsum wallboard, recycled paperboard and frac sand from more than 75 facilities in the United States.
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