Cement News tagged under: Eagle Materials

RSS feed

Eagle Materials reports record 1Q results

31 July 2020, Published under Cement News

US-based Eagle Materials revenues advance 15 per cent to a record of US$428m in the first quarter of FY20-21 (ended 30 June). Michael Haack, President and CEO, said, “Against the backdrop of a global health crisis and unprecedented business disruption, our Company continued to perform well during the quarter, and our markets have proven to be resilient in the current environment. The integration of the Kosmos Cement Business proceeded on schedule and for the first time in Eagle’s history, ...

Eagle Materials posts record revenue in FY19-20

04 June 2020, Published under Cement News

US-based Eagle Materials has reported a record revenue of US$1.45bn in the FY19-20, up four per cent from US$1.39bn in the previous fiscal year. Net earnings climbed three per cent YoY to US$70.89m from US$68.86m, while adjusted EBITDA edged up one per cent to US$471.5m. The company posted record revenue of US$315.4m in the final quarter of FY19-20, up 11 per cent from US$284.7m in the 4QFY19-20. Adjusted EBITDA increased 14 per cent YoY to US$103.4m. "Having achieved record results in fis...

Eagle Materials sells non-core concrete and aggregates assets

20 April 2020, Published under Cement News

Eagle Materials Inc announced it has sold its Western Aggregates and Mathews Ready Mix operations for US$93.5m to Teichert, a California-based construction company. Western Aggregates vested-rights-to-mine covers 3900 acres and includes over 900Mt of aggregates. Mathews Ready Mix assets include three concrete batch plant locations and 26 trucks.  Michael Haack, Eagle Materials president and CEO, said: “This transaction represents the sale of non-core assets on the heavy-side of our com...

Eagle Materials appoints new board member

16 April 2020, Published under Cement News

USA-based Eagle Materials has appointed Mary Ricciardello to its board of directors. Ms Ricciardello’s previous experience includes seven years on the board of US Concrete. “We are extremely pleased to have Mary join our board. Mary is a proven leader and will be a great complement to the strong leaders on our board today. The addition of Mary to the board is also timely in that it provides additional flexibility in light of prospective board needs as we plan for the separation of Eagle M...

Eagle Materials spreads its wings

15 April 2020, Published under Cement News

Headquartered in Dallas, Texas, Eagle Materials Inc has grown from its early beginnings as part of Centex Corp into a multi-product building materials company. It is the largest US-owned cement firm, trades on the New York Stock Exchange and is developing solutions to introduce carbon capture at its cement plants. The recent acquisition of Kosmos Cement has boosted the company’s capacity by approximately 25 per cent and extends its reach in key US markets. Meanwhile, an ongoing strategic por...

Eagle Materials supplies business update amid COVID-19 uncertainty

15 April 2020, Published under Cement News

US-based Eagle Materials has announced that it intends to continue operations as an essential business and deliver products to its customers, since its primary manufacturing facilities span across the country’s heartland in areas where construction has generally been deemed essential by government authorities. Although market conditions for the company’s construction materials have reportedly remained robust, there is uncertainty about the level of mid-term demand sustainability. Therefore...

Cemex and Buzzi Unicem complete Kosmos Cement sale to Eagle Materials Inc

09 March 2020, Published under Cement News

Cemex has divested its 75 per cent share in its partnership with Buzzi Unicem of Kosmos Cement in Louisville, Kentucky, USA, to Eagle Materials Inc. The divestment is for an aggregate amount of US$665m, of which Cemex will receive approximately US$499m. Meanwhile, Buzzi Unicem has sold its 25 per cent share in Kosmos Cement to Eagle Materials Inc. The deal includes the divestment of the Louisville cement plant and seven terminals and raw material reserves.

Eagle Materials announces new chairman and CEO for independent companies

13 February 2020, Published under Cement News

The Eagle Materials Inc Board of Directors approved a plan in 2019 to separate its Heavy and Light Materials businesses into independent, publicly-traded companies by means of a tax-free spin-off to Eagle shareholders. Significant progress has been made on this plan since the announcement, and the Company continues to target the summer of 2020 for the completion of the separation. The Board of Directors announced the selection of the Chairman and CEO for each of the two companies, which w...

Eagle Materials reports a 5% revenue increase

05 February 2020, Published under Cement News

US-based Eagle Materials has reported a five per cent YoY increase in revenue to US$350.2m for the quarter ending 31 December 2019. However, the company posted a net loss of US$114.6m, compared to a profit of US$57.7m in the year-ago period. Adjusted EBITDA advanced six per cent to US$118.7m in the 3QFY19-20. "We are pleased that during the third quarter of fiscal 2020 we capitalised on robust underlying demand across our geographic footprint to achieve a five per cent revenue improvement....

Eagle Materials' acquisition of Kosmos receives approval

14 January 2020, Published under Cement News

The US-based Federal Trade Commission (FTC) has cleared Eagle Materials Inc’s agreement to acquire certain assets from Kosmos Cement Company, Kentucky, a joint venture between Cemex and Buzzi Unicem. The anti-trust approval was received on 9 January. The assets being divested consist of the 1.7Mta cement plant in Louisville and seven distribution terminals as well as raw material reserves. The net proceeds obtained from this transaction will be distributed to Cemex and Buzzi Unicem in...