Eagle Materials reports 19% YoY rise in sales

Eagle Materials reported a 19 per cent YoY rise in revenues to US$359.4m for the third quarter ended 31 December 2017.

Cement revenues in 3QFY17-18, including joint venture and intersegment revenues, totalled US$161.6m, up 17 per cent from the comparable period the previous year. The average net sales price during the quarter was US$106.83/t, reflecting a YoY price increase of six per cent.

“Operating earnings from Cement for the third quarter were a record $52.5 million and 16% greater than the same quarter a year ago. The earnings improvement was driven primarily by earnings from the Fairborn Business and improved average net cement sales prices offset by lower sales volumes from our legacy facilities,” said the company.

Concrete and aggregates reported revenue for the 3QFY17-19 of US$38.5m, down five per cent YoY. Operating earnings in this division fell 26 per cent to US$3.4m. The lower concrete and aggregate sales volumes were partially offset by record 3Q concrete and aggregates sales prices. Sales volumes in the Austin concrete and aggregate business were impacted by wet weather in the latter half of the quarter.