Eagle Materials (EXP) Q3 Earnings and Revenues Miss Estimates

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]