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 ...

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]

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 June 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) 432-2000 ...

Part I [Business](index=3&type=section&id=Item%201.%20Business) Eagle Materials Inc. is a leading U.S. manufacturer of heavy and light construction materials, emphasizing low-cost production, decentralized operations, and strategic growth [Overview, Competitive Strengths, and Strategy](index=3&type=section&id=Overview) The company manufactures essential construction materials, leveraging a low-cost plant network and substantial raw material reserves, while pursuing growth and responsible operations - The company's primary products are portland Cement and Gypsum Wallboard, which are essential commodities for commercial, residential, and public construction[13](index=13&type=chunk) - Key competitive strengths include a strategically located plant network, a low-cost producer position, and substantial owned raw material reserves (**25 to 50 years of supply** for cement and wallboard facilities)[15](index=15&type=chunk)[16](index=16&type=chunk)[19](index=19&type=chunk) - The company's strategy emphasizes being a **low-cost producer**, maintaining a **decentralized operating structure**, focusing on attractive U.S. markets, and growing through strategic acquisitions and organic development[21](index=21&type=chunk) - Capital allocation priorities are: 1) growth opportunities, 2) operating capital investments to maintain low-cost positions, and 3) returning excess cash to shareholders via buybacks and dividends; over the past five years, the company has returned approximately **$1.7 billion** to shareholders[32](index=32&type=chunk) [Fiscal 2023 Events](index=6&type=section&id=FISCAL%202023%20EVENTS) Fiscal 2023 saw record financial performance with **15% revenue growth** and **36% diluted EPS increase**, alongside strategic acquisitions and ESG advancements Fiscal 2023 Financial Highlights (vs. Fiscal 2022) | Metric | Value (USD) | Change | | :--- | :--- | :--- | | Revenue | $2.1 billion | +15% | | Net Earnings | $461.5 million | +23% | | Gross Profit Margin | 29.8% | +190 bps | | Diluted EPS | $12.46 | +36% | | Share Repurchases | $387.7 million (3.1M shares) | - | - Completed the ConAgg Acquisition (readymix concrete and aggregates) in Colorado for approximately **$120.2 million** and the Terminal Acquisition (cement distribution) in Nashville for approximately **$39.5 million**[35](index=35&type=chunk)[36](index=36&type=chunk) - Advanced ESG initiatives by increasing Portland Limestone Cement (PLC) sales to approximately **30% of cement sales volume** in fiscal 2023[38](index=38&type=chunk) - Amended its Revolving Credit Facility, adding a **$200.0 million term loan** and extending the maturity to May 2027[40](index=40&type=chunk) [Human Capital](index=7&type=section&id=HUMAN%20CAPITAL) The company employed approximately **2,400 people** as of March 31, 2023, prioritizing employee health and safety, with all segments achieving TRIRs below industry averages - The company had approximately **2,400 employees** as of March 31, 2023, with about **700 hourly employees** covered by collective bargaining agreements[42](index=42&type=chunk) - Management emphasizes employee health and safety through comprehensive processes, training, and an annual safety conference; in fiscal 2023, all business segments achieved TRIR averages lower than the applicable industry average[43](index=43&type=chunk)[44](index=44&type=chunk)[45](index=45&type=chunk) [Industry Segment Information](index=7&type=section&id=INDUSTRY%20SEGMENT%20INFORMATION) The company operates in Heavy Materials (infrastructure) and Light Materials (residential) sectors, both benefiting from strong demand in their respective markets - The business is organized into two sectors: Heavy Materials (Cement, Concrete and Aggregates) and Light Materials (Gypsum Wallboard, Recycled Paperboard)[46](index=46&type=chunk) - The primary end market for Heavy Materials is infrastructure, while the primary end market for Light Materials is residential construction[46](index=46&type=chunk) [Risk Factors](index=27&type=section&id=Item%201A.%20Risk%20Factors) The company faces diverse risks including cyclical construction demand, seasonality, commodity price volatility, environmental regulations, operational challenges, and financial risks [Industry Risk Factors](index=27&type=section&id=INDUSTRY%20RISK%20FACTORS) The company's performance is tied to the cyclical, seasonal construction industry, facing risks from government spending, inflation, interest rates, weather, and commodity price fluctuations - Demand is directly related to the cyclical construction industry, which is affected by government infrastructure spending, inflation, and interest rates[167](index=167&type=chunk)[169](index=169&type=chunk) - The business is seasonal, with peak revenue and profits typically occurring from April through November[170](index=170&type=chunk) - As a producer of commodity products, the company is subject to price fluctuations based on supply, demand, and general economic conditions[175](index=175&type=chunk) [Economic, Political, and Legal Risk Factors](index=29&type=section&id=ECONOMIC%2C%20POLITICAL%2C%20AND%20LEGAL%20RISK%20FACTORS) The company faces extensive and costly governmental regulations, especially environmental laws on GHG emissions, along with ESG scrutiny, mining permit dependencies, and potential litigation costs - Operations are subject to extensive and costly governmental regulations, including environmental laws that can be burdensome[179](index=179&type=chunk) - Climate change legislation and regulation of greenhouse gases (GHGs) could have a material adverse effect, particularly on the cement manufacturing process, which is inherently carbon-intensive[182](index=182&type=chunk)[184](index=184&type=chunk) - Operations are dependent on the ability to mine properties and renew required permits and approvals from governmental authorities[190](index=190&type=chunk) [Financial and Operational Risk Factors](index=34&type=section&id=FINANCIAL%20AND%20OPERATIONAL%20RISK%20FACTORS) The company faces operational risks from capital-intensive cement operations, fluctuating fuel and raw material costs, transportation dependencies, and financial risks from debt covenants and rising interest rates - The Cement business is capital intensive with significant fixed costs, making earnings sensitive to changes in sales volume[201](index=201&type=chunk) - Results are subject to significant changes in the cost and availability of fuel, energy, and raw materials[204](index=204&type=chunk) - Debt agreements contain restrictive covenants and require meeting financial ratios, which could limit flexibility and lead to default if not met[213](index=213&type=chunk) - Increases in interest rates and inflation could adversely affect the business by increasing borrowing costs and potentially decreasing demand for products[217](index=217&type=chunk) [Properties](index=41&type=section&id=Item%202.%20Properties) The company owns most of its diverse operating facilities across the U.S., including plants, quarries, and terminals, with none pledged as debt security - The company's operating facilities, which include plants, quarries, and terminals, are located across the U.S.[234](index=234&type=chunk) - All facilities are owned except for the Dallas headquarters and certain terminals, which are leased; no facilities are pledged as security for debt[234](index=234&type=chunk) [Legal Proceedings](index=42&type=section&id=Item%203.%20Legal%20Proceedings) The company is involved in ordinary course litigation not expected to be material, but has commenced litigation against the EPA regarding ozone standards, with an unpredictable outcome - The company is involved in litigation in the ordinary course of business, which management does not expect to have a material effect[237](index=237&type=chunk) - The company has commenced litigation against the EPA in response to the disapproval of State Implementation Plans (SIPs) for Nevada, Oklahoma, and Texas concerning ozone standards; the outcome is currently uncertain[238](index=238&type=chunk) [Mine Safety Disclosures](index=42&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) Mine safety disclosure information, as required by the Dodd-Frank Act, is included in Exhibit 95 of this Annual Report - Mine safety disclosure information required by Section 1503(a) of the Dodd-Frank Act is included in Exhibit 95 to this Annual Report[240](index=240&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities](index=43&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%2C%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's common stock trades on the NYSE under EXP; in fiscal 2023, **3.1 million shares** were repurchased for **$387.7 million**, with an additional **7.5 million shares** authorized - In fiscal 2023, the company repurchased **3,075,788 shares** at an average price of **$126.05 per share**[243](index=243&type=chunk) - On May 17, 2022, the Board of Directors authorized the repurchase of an additional **7,500,000 shares**[242](index=242&type=chunk) Share Repurchases for Quarter Ended March 31, 2023 | Period | Total Shares Purchased | Average Price Paid Per Share (USD) | | :--- | :--- | :--- | | Jan 1 - Jan 31, 2023 | 240,000 | $139.60 | | Feb 1 - Feb 28, 2023 | — | — | | Mar 1 - Mar 31, 2023 | 288,000 | $139.98 | | **Quarter 4 Totals** | **528,000** | **$139.81** | [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=45&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Fiscal 2023 saw **15% revenue growth** to **$2.1 billion** and **23% net earnings increase** to **$461.5 million**, driven by strong pricing; the company maintains liquidity for operations and planned capital expenditures despite residential construction headwinds [Market Conditions and Outlook](index=46&type=section&id=MARKET%20CONDITIONS%20AND%20OUTLOOK) The company anticipates strong cement demand from infrastructure, but expects higher mortgage rates to impact residential construction; solid fuel costs for cement are projected to rise, while OCC prices for paperboard should remain stable - Demand for cement is expected to remain strong due to increased federal and state infrastructure funding, with the company's cement network operating at high utilization levels[261](index=261&type=chunk) - Tighter fiscal policy and higher mortgage rates are expected to have some adverse impact on residential construction, affecting the Gypsum Wallboard segment[262](index=262&type=chunk) - Solid fuel costs for cement are expected to increase in fiscal 2024, while OCC (recycled paperboard raw material) prices are expected to remain stable[264](index=264&type=chunk)[265](index=265&type=chunk) [Results of Operations (FY2023 vs FY2022)](index=47&type=section&id=RESULTS%20OF%20OPERATIONS) Fiscal 2023 saw **15% revenue growth** to **$2.15 billion** and **23% net earnings increase** to **$461.5 million**, driven by higher sales prices, resulting in a **30% gross margin** and **$12.46 diluted EPS** Consolidated Results of Operations (in thousands, except per share) | Metric | FY 2023 (USD) | FY 2022 (USD) | % Change | | :--- | :--- | :--- | :--- | | Revenue | $2,148,069 | $1,861,522 | 15% | | Gross Profit | $639,266 | $519,614 | 23% | | Net Earnings | $461,540 | $374,247 | 23% | | Diluted EPS | $12.46 | $9.14 | 36% | - Revenue increase was largely due to higher gross sales prices of approximately **$261.8 million**, partially offset by lower sales volume of **$19.7 million**[268](index=268&type=chunk) - Gross margin increased to **30%** in fiscal 2023 from **28%** in fiscal 2022, primarily due to higher gross sales prices[271](index=271&type=chunk) [Results by Segment (FY2023 vs FY2022)](index=50&type=section&id=FISCAL%20YEAR%202023%20vs%20FISCAL%20YEAR%202022%20RESULTS%20BY%20SEGMENT) In fiscal 2023, all segments showed strong pricing power; Cement operating earnings rose **7%**, Gypsum Wallboard surged **35%**, and Recycled Paperboard doubled, while Concrete and Aggregates revenue grew **35%** with flat earnings Cement Segment Performance (FY2023 vs FY2022) | Metric | FY 2023 (USD) | FY 2022 (USD) | % Change | | :--- | :--- | :--- | :--- | | Revenue (incl. JV) | $1,074.1M | $1,007.1M | +7% | | Sales Volume (M Tons) | 7,133 | 7,534 | -5% | | Avg. Net Sales Price/ton | $134.36 | $119.13 | +13% | | Operating Earnings | $278.8M | $259.6M | +7% | Concrete and Aggregates Segment Performance (FY2023 vs FY2022) | Metric | FY 2023 (USD) | FY 2022 (USD) | % Change | | :--- | :--- | :--- | :--- | | Revenue | $239.5M | $177.1M | +35% | | Concrete Volume (M Cubic Yds) | 1,545 | 1,333 | +16% | | Aggregate Volume (M Tons) | 2,909 | 1,525 | +91% | | Operating Earnings | $18.3M | $18.5M | -1% | Gypsum Wallboard Segment Performance (FY2023 vs FY2022) | Metric | FY 2023 (USD) | FY 2022 (USD) | % Change | | :--- | :--- | :--- | :--- | | Revenue | $872.5M | $692.2M | +26% | | Sales Volume (MMSF) | 3,065 | 2,944 | +4% | | Avg. Net Sales Price/MSF | $232.31 | $190.76 | +22% | | Operating Earnings | $352.5M | $261.5M | +35% | Recycled Paperboard Segment Performance (FY2023 vs FY2022) | Metric | FY 2023 (USD) | FY 2022 (USD) | % Change | | :--- | :--- | :--- | :--- | | Revenue (incl. Intersegment) | $201.3M | $194.1M | +4% | | Sales Volume (M Tons) | 326 | 334 | -2% | | Operating Earnings | $25.2M | $12.6M | +100% | [Critical Accounting Policies](index=54&type=section&id=CRITICAL%20ACCOUNTING%20POLICIES) The company's critical accounting policies involve significant judgment, particularly in impairment testing of long-lived assets and goodwill, and in valuing assets and liabilities during business combinations - Key critical accounting policies include impairment of long-lived assets, goodwill impairment testing, and accounting for business combinations[294](index=294&type=chunk) - Goodwill is tested for impairment annually in Q4 at the reporting unit level; in fiscal 2023, a qualitative assessment was performed, and it was determined that it was not more likely than not that an impairment existed[296](index=296&type=chunk)[367](index=367&type=chunk) - Business combinations are accounted for using the acquisition method, which requires estimating the fair values of acquired assets and liabilities, a process involving significant management judgment[303](index=303&type=chunk) [Liquidity and Capital Resources](index=56&type=section&id=LIQUIDITY%20AND%20CAPITAL%20RESOURCES) The company maintains sufficient liquidity through cash flow and its **$750 million** revolving credit facility; fiscal 2023 saw **$541.7 million** in operating cash flow, with FY2024 capital expenditures projected at **$145-$165 million** Summary of Cash Flows (in thousands) | Cash Flow Activity | FY 2023 (USD) | FY 2022 (USD) | | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | $541,726 | $517,171 | | Net Cash Used in Investing Activities | ($268,594) | ($74,121) | | Net Cash Used in Financing Activities | ($277,306) | ($692,154) | - The debt-to-capitalization ratio was **48.1%** at March 31, 2023, up from **45.6%** at March 31, 2022[317](index=317&type=chunk) - As of March 31, 2023, the company had **$586.6 million** of available borrowings under its Revolving Credit Facility[319](index=319&type=chunk) - Capital expenditures for fiscal 2024 are expected to range from **$145.0 million** to **$165.0 million**[327](index=327&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=62&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces market risks from interest rate fluctuations on its **$349.5 million** variable-rate debt, where a **100 basis point increase** would raise annual interest expense by **$3.5 million**, and from commodity price changes - The company is exposed to interest rate risk on its variable-rate debt, which totaled **$349.5 million** at March 31, 2023[338](index=338&type=chunk) - A hypothetical **100 basis point (1%) increase** in interest rates would increase annual interest expense by **$3.5 million**[338](index=338&type=chunk) - The company is subject to commodity risk from price changes in coal, petroleum coke, natural gas, and power[339](index=339&type=chunk) [Financial Statements and Supplementary Data](index=63&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents the company's audited consolidated financial statements for fiscal years 2021-2023, including key financial statements and notes, along with an unqualified audit opinion from Ernst & Young LLP [Consolidated Statements of Earnings](index=64&type=section&id=Consolidated%20Statements%20of%20Earnings) The Consolidated Statement of Earnings shows significant fiscal 2023 performance, with revenue growing to **$2.15 billion**, net earnings rising to **$461.5 million**, and diluted EPS increasing to **$12.46** Key Earnings Data (in thousands, except per share data) | Metric | 2023 (USD) | 2022 (USD) | 2021 (USD) | | :--- | :--- | :--- | :--- | | Revenue | $2,148,069 | $1,861,522 | $1,622,642 | | Gross Profit | $639,266 | $519,614 | $408,355 | | Net Earnings | $461,540 | $374,247 | $339,444 | | Diluted EPS | $12.46 | $9.14 | $8.12 | [Consolidated Balance Sheets](index=66&type=section&id=Consolidated%20Balance%20Sheets) As of March 31, 2023, the Consolidated Balance Sheet shows total assets of **$2.78 billion**, total liabilities of **$1.60 billion**, and total stockholders' equity of **$1.19 billion** Key Balance Sheet Data (in thousands) | Metric | March 31, 2023 (USD) | March 31, 2022 (USD) | | :--- | :--- | :--- | | Total Current Assets | $521,503 | $442,727 | | Property, Plant, and Equipment, net | $1,662,061 | $1,616,539 | | Goodwill and Intangible Assets, net | $466,043 | $387,898 | | **Total Assets** | **$2,781,002** | **$2,579,652** | | Total Current Liabilities | $212,889 | $207,551 | | Long-term Debt | $1,079,032 | $938,265 | | **Total Liabilities** | **$1,595,308** | **$1,446,096** | | **Total Stockholders' Equity** | **$1,185,694** | **$1,133,556** | [Notes to Consolidated Financial Statements](index=69&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes detail accounting policies and financial data, including fiscal 2023 acquisitions, **$1.1 billion** in total debt, segment performance, stock-based compensation, and no goodwill impairment charge - **Acquisitions (Note B):** In FY2023, the company completed the ConAgg Acquisition for ~**$120.2 million** and the Nashville Terminal Acquisition for ~**$39.5 million**, both funded primarily through its Revolving Credit Facility[392](index=392&type=chunk)[396](index=396&type=chunk) - **Debt (Note G):** As of March 31, 2023, total debt was **$1.1 billion**, consisting of a **$750 million 2.500% Senior Unsecured Note** due 2031, a **$192.5 million Term Loan**, and **$157.0 million** outstanding on the Revolving Credit Facility[409](index=409&type=chunk) - **Goodwill (Note A):** A qualitative assessment on all reporting units in Q4 FY2023 determined it was not more likely than not that an impairment existed, so no quantitative test was performed[367](index=367&type=chunk) - **Stock Repurchases (Note A):** In FY2023, the company repurchased **3,075,788 shares** for an average price of **$126.05**; as of March 31, 2023, **7,747,204 shares** remained authorized for repurchase[375](index=375&type=chunk) [Controls and Procedures](index=100&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that disclosure controls and internal control over financial reporting were effective as of March 31, 2023, confirmed by an unqualified audit opinion from Ernst & Young LLP - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of March 31, 2023[483](index=483&type=chunk) - Management concluded that the company's internal control over financial reporting was effective as of March 31, 2023, based on the COSO 2013 framework[485](index=485&type=chunk) - Ernst & Young LLP, the independent registered public accounting firm, issued an unqualified opinion on the effectiveness of the company's internal control over financial reporting as of March 31, 2023[487](index=487&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=103&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information on directors, executive officers, and corporate governance is incorporated by reference from the 2023 Proxy Statement; the company maintains a code of ethics, 'The Eagle Way' - Most information for Items 10-14 is incorporated by reference from the Company's Proxy Statement for the August 3, 2023 Annual Meeting of Stockholders[497](index=497&type=chunk) - The company has a code of ethics, 'The Eagle Way,' which applies to the principal executive officer, principal financial officer, and other employees, and is published on its website[499](index=499&type=chunk) Part IV [Exhibits, Financial Statement Schedules](index=104&type=section&id=Item%2015.%20Exhibits%2C%20Financial%20Statement%20Schedules) This item lists all exhibits filed with the Form 10-K, including governance documents, debt agreements, compensation plans, and certifications; financial statement schedules are omitted - This section provides an index of all exhibits filed with the Form 10-K, including governance documents, debt agreements, compensation plans, and various certifications[507](index=507&type=chunk)[509](index=509&type=chunk) - Financial statement schedules are omitted because they are not applicable or the required information is included within the main financial statements[506](index=506&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the Quarterly Period Ended FORM 10-Q QUARTERLY REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 December 31, 2022 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 ...

Eagle Materials Inc. (NYSE:EXP) Q1 2023 Earnings Conference Call July 28, 2022 8:30 AM ET Company Participants Michael Haack - President and CEO Craig Kesler - CFO Bob Stewart - EVP, Strategy, Corporate Development and Communications Conference Call Participants Trey Grooms - Stevens Brent Thielman - D.A. Davidson Jerry Revich - Goldman Sachs Operator Good day, everyone, and welcome to Eagle Materials Q1 2023 Earnings Conference Call. Please note, this even is being recorded. I would like to turn the confer ...

Financial Data and Key Metrics Changes - Revenue for fiscal year 2022 increased by 15% to a record $1.9 billion, with gross profit margin rising by 270 basis points to 27.9% [7][24] - Earnings per share (EPS) from continuing operations rose by 14% to a record $9.14, with fourth quarter EPS up by 22% [8][25] - Operating cash flow for fiscal 2022 was $517 million, down 20% from the prior year due to timing of working capital [30] Business Line Data and Key Metrics Changes - Heavy Materials sector revenue increased by 6%, driven by higher cement sales volume and pricing, with operating earnings up by 10% [26] - Light Materials sector revenue surged by 27%, with operating earnings increasing by 42% to $274 million, reflecting improved wallboard sales volume and prices [29] Market Data and Key Metrics Changes - Demand for housing continues to outpace supply, with steady order trends across major business lines despite rising interest rates [21][22] - Public infrastructure spending is supported by improving state and local government revenues, with federal infrastructure spending expected to boost cement demand [22] Company Strategy and Development Direction - The company emphasizes resilience through owning manufacturing facilities and controlling raw materials, which has proven effective during supply chain disruptions [11][12] - A commitment to sustainability is highlighted by the introduction of limestone cement, which reduces carbon intensity and enhances clinker manufacturing capacity [15] - The company plans to increase capital spending to $115 million to $125 million in fiscal 2023 to expand production of Portland Limestone Cement [33] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about fiscal 2023, expecting it to be another record year, supported by midyear price increases in wallboard, cement, and aggregates [23] - The company is closely monitoring inflationary pressures on energy and transportation costs, with multiple price increases planned to offset these pressures [39][75] Other Important Information - The company returned $620 million to shareholders through share repurchases and dividends, with an additional 7.5 million shares authorized for repurchase [17][32] - The acquisition of an aggregates-led business in Colorado for $120 million is expected to complement existing operations and provide sustainable growth [12][33] Q&A Session Summary Question: How are you thinking about raw material and energy-related costs? - Management noted that OCC prices have plateaued and natural gas needs are partially hedged, indicating a cautious but optimistic outlook on margins [36][37][39] Question: How is housing demand expected to evolve? - Despite rising interest rates, management believes housing demand remains strong due to reasonable affordability and a lack of inventory [41][42] Question: Can you discuss wallboard volume trends? - Management indicated that previous volume declines were due to supply chain issues, but improvements are expected as these issues resolve [45][46] Question: How do you view wallboard margins in a potential downturn? - Management expressed confidence in their position due to controlled raw material costs and a strong supply contract, suggesting resilience in margins [50][52] Question: What are your thoughts on capital allocation in a recession? - The company is positioned to manage cycles and continue growth, with a focus on strategic opportunities and returning cash to shareholders [58][60] Question: Any updates on cement capacity and pricing? - Management confirmed multiple price increases due to tight market conditions and indicated ongoing projects to enhance cement production capacity [68][75]

Eagle Materials Inc.'s (NYSE:EXP) Q3 2022 Earnings Conference Call January 27, 2022 8:30 AM ET Company Participants Michael Haack – President and CEO Craig Kesler – Chief Financial Officer Conference Call Participants Trey Grooms – Stephens Brent Thielman – D.A. Davidson Adrian Huerta – JP Morgan Anthony Pettinari – Citi Jerry Revich – Goldman Sachs Josh Wilson – Raymond James Philip Ng – Jefferies Operator Good day, everyone and welcome to Eagle Materials, Third Quarter of fiscal 2022, Earnings Conferenc ...

January 27, 2022 Third Quarter Fiscal 2022 Earnings Release and Conference Call Forward-Looking Statements Forward‐Looking Statements. This presentation contains forward‐looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward‐looking statements may be identified by the context of the statement and generally arise when the Company is discussing its beliefs, estimate ...