Eagle Materials reports record revenue
Dallas-based Eagle Materials reported record revenue and record net earnings for the three months ended June 30.
Revenue was up 7.5% to $393.8 million. Net earnings rose more than 20% to $66.3 million.
According to CEO Dave Powers, said he likes the direction of the business. “Looking ahead, we anticipate another strong year, as the backlog of work in our markets continues to drive demand for our products,” he said.
Among the details from the company’s earnings report:
Eagle Materials Inc. manufactures and distributes Cement, Aggregates, Concrete, Gypsum Wallboard, Recycled Paperboard and Frac Sand from over 75 facilities across the U.S.
Revenue was up 7.5% to $393.8 million. Net earnings rose more than 20% to $66.3 million.
According to CEO Dave Powers, said he likes the direction of the business. “Looking ahead, we anticipate another strong year, as the backlog of work in our markets continues to drive demand for our products,” he said.
Among the details from the company’s earnings report:
- Revenue in the light materials sector, which includes Gypsum Wallboard and Paperboard, increased 11% to $170.2 million.
- Concrete and aggregates revenue for the first quarter was $40.5 million, a decrease of 7%. First quarter operating earnings were $5.5 million, a 9% decline, reflecting lower sales volumes partially offset by improved pricing.
- Revenue in the Heavy Materials sector, which includes Cement, Concrete and Aggregates and Joint Venture and intersegment Cement revenue, was $227.3 million, a slight improvement from the first quarter of fiscal 2018.
Eagle Materials Inc. manufactures and distributes Cement, Aggregates, Concrete, Gypsum Wallboard, Recycled Paperboard and Frac Sand from over 75 facilities across the U.S.