Core Insights - Eagle Materials reported quarterly earnings of $3.59 per share, missing the Zacks Consensus Estimate of $4 per share, and showing a decline from $3.72 per share a year ago, resulting in an earnings surprise of -10.25% [1] - The company posted revenues of $558.03 million for the quarter, which was 3.77% below the Zacks Consensus Estimate and slightly lower than the $558.83 million reported a year ago [2] - The stock has gained approximately 4.7% since the beginning of the year, outperforming the S&P 500's gain of 3.2% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $2.82 on revenues of $502.91 million, and for the current fiscal year, it is $15.11 on revenues of $2.31 billion [7] - The estimate revisions trend for Eagle Materials is currently unfavorable, leading to a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [6] Industry Context - The Building Products - Concrete and Aggregates industry, to which Eagle Materials belongs, is currently ranked in the bottom 14% of over 250 Zacks industries, suggesting a challenging environment [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Eagle Materials' stock performance [5]

EXHIBIT 99.1 Contact at 214-432-2000 Michael R. Haack President and CEO D. Craig Kesler Executive Vice President & CFO Alex Haddock Senior Vice President Segment Financial Results News For Immediate Release EAGLE MATERIALS REPORTS THIRD QUARTER RESULTS DALLAS, TX (January 29, 2025) Eagle Materials Inc. (NYSE: EXP) today reported financial results for the third quarter of fiscal 2025 ended December 31, 2024. Notable items for the quarter are highlighted below (unless otherwise noted, all comparisons are with ...

Eagle Materials Inc. (EXP) has entered into a definitive agreement to acquire Bullskin Stone & Lime, LLC for a purchase price of $152.5 million.The acquisition of this pure-play aggregates business located in Western Pennsylvania will expand EXP’s market reach in the Pittsburgh and Western Pennsylvania markets. The closure of this strategic transaction is expected in the next 60 days, subject to the satisfaction of customary closing conditions.Per Michael Haack, Eagle Materials’ president and CEO, “The acqu ...

Financial Data and Key Metrics - Q2 2025 revenue reached a record $624 million, a slight increase from the prior year, driven by higher cement and wallboard sales prices and volume, partially offset by lower cement sales volume [30][31] - Earnings per share (EPS) for the quarter was $4.26, flat compared to the prior year, reflecting lower earnings offset by a 5% reduction in fully diluted shares due to the share buyback program [31] - Operating cash flow increased by 35% to $233 million, reflecting strong working capital management [34] - Capital spending increased to $66 million, including $27 million for the modernization and expansion project at the Laramie, Wyoming cement plant and $25 million for a small aggregates acquisition [35] - The company repurchased 253,000 shares for $61 million and paid a quarterly dividend, returning a total of $69 million to shareholders [36] - Net debt-to-capital ratio was 41%, and net debt-to-EBITDA leverage ratio was 1.2x at the end of the quarter [37] Business Segment Performance Heavy Materials (Cement, Concrete, and Aggregates) - Revenue declined by 2%, primarily due to lower cement sales volume, partially offset by cement price increases implemented earlier in the year [32] - Operating earnings decreased by 9%, driven by lower cement sales volume and higher maintenance costs [32] - Volumes were down 5% overall, with significant impacts in Denver and Kansas City due to reduced demand and a work stoppage, respectively [12][13] Light Materials (Wallboard and Recycled Paperboard) - Revenue increased by 5%, driven by higher wallboard and recycled paperboard sales volume and a 1% increase in wallboard prices [33] - Operating earnings rose by 5% to $98 million, supported by higher sales volume and prices [33] - Wallboard demand remained steady despite a restrictive rate environment, with margins holding up well due to cost pressures and constrained industry capacity [24] Market and Demand Outlook - Infrastructure demand visibility remains strong due to the $1 trillion Federal infrastructure bill (IIJA), though spending has been slower than anticipated, with 75% of funds yet to be spent [16][17] - Non-residential construction demand varies by sub-sector, with large-scale manufacturing and industrial projects expected to remain strong [18] - Residential construction has held up well, with potential for a rebound supported by lower interest rates and underlying builder demand [19] - Heavy Materials volumes have underperformed expectations in 2024, with industry forecasts now predicting a year-over-year decline in cement volumes [20][21] - The company announced a price increase for early January 2025 across most markets, reflecting favorable demand conditions in the U.S. Heartland [22] Strategic Initiatives and Industry Positioning - The company continues to invest in sustainability, including the commissioning of a slag grinding facility in Houston, which will provide over 500,000 tons of low-carbon intensity slag [8] - Alternative fuel feeders have been expanded to reduce coal and coke usage, and water usage at the Republic Paperboard facility has been reduced by 40% [9] - The company is modernizing its Mountain Cement plant and has a robust pipeline of M&A opportunities, including a recent small aggregates acquisition in Kentucky [28][29] - Eagle Materials is positioned as a low-cost producer with high barriers to entry, a healthy balance sheet, and a focus on long-term investments to sustain industry-leading margins [26][27] Management Commentary on Operating Environment and Future Prospects - Management highlighted the impact of weather and labor constraints on infrastructure spending, but remains optimistic about the long-term demand tailwinds from IIJA and a rebound in construction activity [16][17][21] - The company expects a more accommodative monetary policy to support residential construction and wallboard demand, with pricing increases planned for early 2025 [22][25] - Maintenance costs are expected to increase in the upcoming quarter due to planned outages at Texas Lehigh and Tulsa Cement facilities, but these are one-off projects that will improve plant reliability [14][15] Other Important Information - The company held its Annual Health, Safety, and Environment (HSE) Conference, showcasing progress in safety and sustainability, including a below-industry-average TRIR rate and reduced CO2 emissions [5][6][7] - The blended cement production surpassed 90% of sales, reflecting the company's focus on sustainability and efficiency [9] Q&A Session Summary Question 1: Impact of Weather and Volume Trends - Hurricanes did not impact equipment but affected volumes in some Eastern markets, particularly cement and wallboard [39] - October volumes have improved due to drier weather [40] Question 2: Wallboard Pricing and Demand - Wallboard pricing was up year-over-year but down slightly sequentially, with a price increase delayed to early 2025 [41][42] - Demand for wallboard remains steady, with expectations of improved pricing as single-family construction activity increases [43] Question 3: Cement Demand and IIJA Impact - Cement demand has been slower than expected due to weather and project delays, but management remains optimistic about future demand from IIJA and industrial projects [47][48][49] - The company does not carry a significant backlog but sees a positive demand picture across its markets [48] Question 4: Maintenance Costs and Cement Margins - Maintenance costs for Texas Lehigh and Tulsa Cement facilities are expected to add $6-8 million in costs for Q3 [55] - Long-term cement margins are expected to remain strong due to supply constraints and high-quality assets [53][54] Question 5: Wallboard Cost Structure - Wallboard costs are primarily driven by paper and natural gas, with the company hedged at around 50% for natural gas [69] - OCC prices have been elevated but are expected to stabilize, with potential for cost benefits in future quarters [79][80] Question 6: Aggregates Acquisition and CapEx - The recent aggregates acquisition contributed $1.7 million in revenue and 100,000 tons in volume for the quarter [66] - CapEx for FY25 is expected to be between $280-310 million, with similar levels anticipated for FY26 due to ongoing investments in the Laramie project [81] Question 7: Denver and Kansas City Issues - Denver volumes were impacted by reduced demand in the oil field services sector, but the company is diversifying its customer base [73] - The Kansas City work stoppage has been resolved, with the business now focused on non-union markets [74]

For the quarter ended September 2024, Eagle Materials (EXP) reported revenue of $623.62 million, up 0.2% over the same period last year. EPS came in at $4.31, compared to $4.28 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $658.03 million, representing a surprise of -5.23%. The company delivered an EPS surprise of -9.26%, with the consensus EPS estimate being $4.75. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wa ...

Eagle Materials (EXP) came out with quarterly earnings of $4.31 per share, missing the Zacks Consensus Estimate of $4.75 per share. This compares to earnings of $4.28 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -9.26%. A quarter ago, it was expected that this maker of gypsum wallboard and cement would post earnings of $3.57 per share when it actually produced earnings of $3.94, delivering a surprise of 10.36%.Over the last ...

Uncertainties in the macroeconomic landscape, weather-related issues, and increased labor costs pose challenges for the Zacks Building Products - Concrete & Aggregates industry. Nonetheless, an uptick in spending on infrastructure and public construction is set to continue driving growth in the industry. The industry is also poised to benefit from improvements in the single-family residential construction market and advantageous pricing dynamics amid difficult conditions. Companies like Vulcan Materials Com ...

EAGLE MATERIALS INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (unaudited) See Notes to Unaudited Consolidated Financial Statements. | --- | --- | --- | --- | --- | |----------------------------------------------------|--------------|------------------------------------------------------------------------------|---------------------|---------------------------------------------------------| | Revenue | (dollars \n$ | For the Three Months \n2024 \n in thousands, except \n608,689 | Ended \nshare \n ...

Financial Data and Key Metrics Changes - The company reported record revenue of $609 million, representing a 1% increase compared to the previous year [11][36] - Earnings per share reached a record $3.94, marking a 16% increase from the prior year, driven by higher earnings and a reduction in fully diluted shares due to the share buyback program [11][37] - Operating cash flow decreased by 6% to $133 million, reflecting improved earnings offset by increased working capital [23] Business Line Data and Key Metrics Changes - In the Heavy Materials sector, revenue increased by 1%, primarily due to higher cement sales prices [37] - The Light Materials sector saw a 2% increase in revenue, attributed to higher wallboard sales prices and record recycled paperboard sales volume [22] - Operating earnings in the Light Materials sector increased by 5% to $102 million, reflecting higher net sales prices and lower input costs [22] Market Data and Key Metrics Changes - The company noted that weather impacted construction projects across all regions, delaying construction fees to varying degrees [2] - The demand for cement remains strong, supported by years of public infrastructure spending driven by the IIJA bill [30] - The existing housing stock in the US continues to age, contributing to a favorable long-term demand profile for the wallboard business [17] Company Strategy and Development Direction - The company is committed to strengthening its core businesses through both organic investments and M&A opportunities [3] - There is a focus on sustainability, with efforts to transition to Portland Limestone Cement and other blended products to reduce CO2 intensity [29] - The company plans to expand and upgrade its Mountain Cement facility to enhance efficiency and maintain its low-cost producer position [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining superior margin performance despite uncertainties in the market [5] - The outlook for the wallboard business is less predictable, depending on economic conditions and policy responses [32] - The company anticipates a busy second half of the year, with strong demand visibility for cement driven by infrastructure projects [78] Other Important Information - The company has a healthy balance sheet, with a net debt-to-cap ratio of 44% and a net debt-to-EBITDA leverage ratio of 1.3 times [38] - Capital spending decreased to $33 million, with share repurchases totaling 348,000 shares for $85.5 million [23] Q&A Session Summary Question: What are the impacts of rising inventory levels on builder customers? - Management indicated that wallboard is a perishable product, and inventory levels are not significantly concerning, although weather has caused some delays in South Texas [44] Question: Can you provide an update on hedging efforts with natural gas? - The company is approximately 40% hedged for the remainder of fiscal 2025, benefiting from lower gas prices [40] Question: What is the outlook for cement pricing in the second half of the year? - Management expects limited second-round price increases due to the delayed start of the construction season, but pricing remains stable [66] Question: How is the company managing costs in light of weather impacts? - The company successfully managed costs during the quarter despite challenging weather conditions, and expects to continue this trend [57] Question: What is the expected impact of weather on cement volumes? - Weather has delayed projects, but management believes there will be opportunities to make up for lost volumes in the second half of the year [83]

For the quarter ended June 2024, Eagle Materials (EXP) reported revenue of $608.69 million, up 1.2% over the same period last year. EPS came in at $3.94, compared to $3.55 in the year-ago quarter. The reported revenue represents a surprise of -0.09% over the Zacks Consensus Estimate of $609.21 million. With the consensus EPS estimate being $3.57, the EPS surprise was +10.36%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Stre ...