For the quarter ended December 2023, Eagle Materials (EXP) reported revenue of $558.83 million, up 9.3% over the same period last year. EPS came in at $3.72, compared to $3.20 in the year-ago quarter.The reported revenue represents a surprise of +4.02% over the Zacks Consensus Estimate of $537.23 million. With the consensus EPS estimate being $3.56, the EPS surprise was +4.49%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determi ...

Eagle Materials (EXP) came out with quarterly earnings of $3.72 per share, beating the Zacks Consensus Estimate of $3.56 per share. This compares to earnings of $3.20 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.49%. A quarter ago, it was expected that this maker of gypsum wallboard and cement would post earnings of $4.18 per share when it actually produced earnings of $4.28, delivering a surprise of 2.39%.Over the last f ...

DALLAS--(BUSINESS WIRE)--Eagle Materials Inc. (NYSE: EXP) today reported financial results for the third quarter of fiscal 2024 ended December 31, 2023. Notable items for the quarter are highlighted below (unless otherwise noted, all comparisons are with the prior year’s fiscal third quarter): Third Quarter Fiscal 2024 Highlights Record Revenue of $558.8 million, up 9% Record Net Earnings of $129.1 million, up 10% Net Earnings per share of $3.72, up 16% Adjusted EBITDA of $218.6 million, up 10% A ...

Eagle Materials Inc. (EXP) is scheduled to report third-quarter fiscal 2024 (ended Dec 31, 2023) results on Jan 25, before the opening bell.In the last reported quarter, the company’s earnings beat the Zacks Consensus Estimate by 2.4%, but revenues missed the same by 1.6%. On a year-over-year basis, the earnings of heavy construction materials and light building materials producers increased 14% and revenues rose 3%.Eagle Materials’ earnings topped the consensus mark in three of the last four quarters and m ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended December 31, 2023 Commission File Number 1-12984 EAGLE MATERIALS INC. (Exact name of registrant as specified in its charter) Delaware (State of Incorporation) 75-2520779 (I.R.S. Employer Identification No.) 5960 Berkshire Lane, Suite 900, Dallas, Texas 75225 (Address of principal executive offices) (214) 432-2 ...

In its upcoming report, Eagle Materials (EXP) is predicted by Wall Street analysts to post quarterly earnings of $3.56 per share, reflecting an increase of 11.3% compared to the same period last year. Revenues are forecasted to be $537.23 million, representing a year-over-year increase of 5%.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timefr ...

The most recent trading session ended with Eagle Materials (EXP) standing at $203.94, reflecting a +1.91% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 1.41% for the day. On the other hand, the Dow registered a gain of 0.58%, and the technology-centric Nasdaq increased by 2.2%.The maker of gypsum wallboard and cement's shares have seen an increase of 5.85% over the last month, not keeping up with the Construction sector's gain of 7.47% and outstri ...

Financial Data and Key Metrics Changes - The company reported record revenue of $622 million for the second quarter, an increase of 3% from the prior year, driven by higher cement sales prices and contributions from a recently acquired cement import terminal [41][51] - Operating earnings increased by 19%, primarily due to increased cement prices, with an average cement price increase of approximately $5 per ton or 3% sequentially [42][62] - Gross margins expanded to 33.6%, up 150 basis points, and net earnings per diluted share reached $4.26, a 15% increase [51][62] - The net debt-to-cap ratio was 45%, and the net debt-to-EBITDA leverage ratio was 1.3x, indicating substantial financial flexibility [43][61] Segment Performance Changes - In the Heavy Materials sector, revenue increased by 10%, primarily due to higher cement sales prices and contributions from the cement import terminal [41][53] - The Light Materials sector saw a revenue decrease of 8%, reflecting lower wallboard and recycled paperboard sales volume, while wallboard sales prices remained flat [84] Market Data and Key Metrics Changes - The U.S. manufactured cement supply continues to be outpaced by demand, with stringent permitting requirements limiting new plant builds or expansions [33][56] - The demand for cement remains robust across end markets, particularly in public and private nonresidential construction [55][88] - The housing market is experiencing structural underbuilding, which is expected to worsen, creating a tailwind for new home construction and remodeling projects [58][59] Company Strategy and Industry Competition - The company aims to grow its businesses and improve competitive positions through acquisitions and organic investments that meet strict strategic and financial return criteria [61] - The integration of the cement import terminal in Northern California is part of the strategy to supplement the supply chain on the West Coast [36][96] - The company is optimistic about the short, mid, and long-term outlook for its heavy side businesses due to strong demand from infrastructure projects [35][36] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the higher interest rate environment but noted that the shortage of existing homes creates a different demand backdrop compared to prior cycles [45][94] - The company remains confident in the demand for cement driven by multiyear infrastructure projects, despite potential short-term volatility in residential construction [66][88] - The outlook for wallboard volume is expected to remain in a down mid-single-digit range in the short term, influenced by rising interest rates and consumer spending uncertainty [72][94] Other Important Information - The company returned $169 million to shareholders through dividends and share repurchases during the first half of the fiscal year [2][61] - The company has approximately 6.8 million shares remaining under its current repurchase authorization [2] Q&A Session Summary Question: What is the outlook for cement demand in 2024 given the current economic conditions? - Management expects to maintain a sold-out position in cement due to strong demand, despite increased uncertainty from the interest rate environment [5][45] Question: How is the company managing capital allocation amidst high free cash flow? - The company focuses on maintaining asset quality and managing capital structure while being open to acquisitions that meet strict financial performance criteria [9][14] Question: What are the expectations for wallboard volume in the near term? - Wallboard volumes are expected to remain down in the mid-single-digit range due to the impact of higher interest rates and consumer behavior [72][94] Question: Can you provide insights on the pricing strategy for cement in early 2024? - The company announced cement price increases ranging from $10 to $15 per ton effective January 1, 2024, depending on the market [67][98] Question: How does the company view the competitive landscape for wallboard pricing? - Pricing has remained resilient nationally, with different factors affecting various regions, particularly in the eastern and western U.S. [69][95]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended September 30, 2023 Commission File Number 1-12984 EAGLE MATERIALS INC. (Exact name of registrant as specified in its charter) Delaware (State of Incorporation) 75-2520779 (I.R.S. Employer Identification No.) 5960 Berkshire Lane, Suite 900, Dallas, Texas 75225 (Address of principal executive offices) (214) 432- ...

Financial Data and Key Metrics Changes - The company reported record revenue of $602 million for Q1 2024, a 7% increase from the prior year, driven by higher Wallboard and Cement sales prices [36][15] - Net earnings expanded gross margin by 240 basis points, and adjusted EPS increased by 26% to $3.55, reflecting improved earnings and a 7% reduction in fully diluted shares due to the buyback program [2][15] - Operating earnings rose by 19%, primarily due to increased cement prices, which were partially offset by higher maintenance costs [16] Business Line Data and Key Metrics Changes - The Heavy Materials sector, which includes Cement and Concrete and Aggregates, saw revenue increase by 15%, driven by higher cement sales prices and contributions from a recently acquired terminal [37] - The Light Materials sector experienced a 2% decrease in revenue, attributed to lower Wallboard sales volume, although operating earnings increased by 12% due to higher net sales prices and lower input costs [17] Market Data and Key Metrics Changes - The cement business benefited from a favorable pricing backdrop, realizing a 15% year-over-year price increase, with a second round of price increases implemented in early July [7][38] - The company noted that infrastructure awards are at multi-decade highs, with strong demand for cement driven by federal and state spending [11][32] Company Strategy and Development Direction - The company aims to grow its Cement and Aggregates businesses, having completed the acquisition of a cement import terminal in Northern California to strengthen its competitive position [8][18] - Environmental stewardship is a priority, with plans to increase the use of alternative fuels and transition to Portland Limestone Cement (PLC), targeting 100% conversion by 2025 [30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to manage through economic cycles, highlighting a strong demand backdrop for cement and concrete due to infrastructure spending [13][32] - The near-term outlook for Wallboard remains unclear, but there is increasing confidence in the supply-demand scenario for the mid and long term due to housing supply shortages [34][33] Other Important Information - The company returned $83 million to shareholders through share repurchases and dividends during the quarter [18] - Operating cash flow increased by 12% to $140 million, reflecting improved earnings and working capital management [39] Q&A Session Summary Question: What is the outlook for Wallboard volume given the backlog of unfinished homes? - Management indicated that Wallboard sales volume has remained resilient, supported by a backlog of activity and improving order growth from homebuilders [42][43] Question: What is the expected impact of the joint venture's maintenance issues on future quarters? - Management confirmed that production levels have improved post-outage, and while additional work is planned for fiscal 2025, they are confident in the facility's performance for the current year [46] Question: Can you provide an update on the M&A pipeline and share buyback strategy? - The M&A pipeline remains robust, with strict criteria for investments, and the company is active in its share repurchase program due to strong cash generation [51] Question: How do you view the pricing environment for cement moving forward? - Management noted strong demand and limited supply response, suggesting a favorable pricing environment for the foreseeable future [55] Question: What drove the recent growth in cement volumes? - The growth was attributed to robust infrastructure spending and the company's sold-out position, with expectations for continued strong demand [57]