Eagle Materials reports Q4 loss
Gypsum wallboard revenue up 13% in Q4.
Eagle Materials reported fourth quarter 2019 revenue of $284.7 million, flat compared to revenue in the fourth quarter 2018.
For the full year, Eagle posted revenue of $1.39 billion, up just 0.5% from full year 2018 revenue of $1.38 billion.
The Dallas, Texas-based building materials distributor also reported a net loss of $127.8 million for the fourth quarter. In the fourth quarter 2018, Eagle Materials posted net earnings of $37 million.
Earnings for the full year fell to $68.9 million from net earnings of $256.6 million a year ago.
Cement revenue for the quarter declined 2% to $113.1 million while concrete and aggregate revenue fell 7% to $28.5 million.
Gypsum wallboard and paperboard revenue increased 13% to $154.4 million for the fourth quarter, however.
The bottom line: Sales are flat for quarter while the company reports a net loss of $127.8 million.
What the CEO said: Looking ahead, a strong jobs market, coupled with real wage growth and low interest rates, bodes well for our key construction markets in calendar 2019. We are confident that we will continue to produce industry-leading margins and generate significant cash flow, and our ongoing strategic portfolio review will ensure that Eagle’s inherent value is appropriately reflected in the marketplace.
Company info: Read Eagle Materials full fourth quarter 2019 report here.
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