Cement News tagged under: Eagle Materials Inc

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Eagle Materials notes record cement sales in 1Q

31 July 2019, Published under Cement News

US-based Eagle Materials Inc has reported a six per cent YoY fall in revenue to US$370.5m for the quarter ending 30 June 2019.  However, revenue in the Heavy Materials (cement, concrete and aggregates) segment saw a three per cent improvement to US$234.7m. Operating earnings decreased five per cent to US$40.6m, which has been attributed to increased fixed and freight costs alongside poor weather. “Our cement sales volume was up three per cent to a record 1.6Mt in the first quarter despite...

Sachem Head nominates two for Eagle Materials Board

10 May 2019, Published under Cement News

Eagle Materials Inc shareholder Sachem Head Capital Management LP is nominating two people to Eagle Materials’ board, saying the company needs “new voices”. Scott Ferguson, Sachem Head’s managing partner, and Wendy Lane, board member at Willis Tower Watson plc were both nominated. Sachem Head, who reported a 8.9 per cent stake on 28 March 2019, is concerned about the “diversion” of resources as Eagle expanded into oil and gas proppants. While it said it was encouraged by the portfolio re...

Eagle Materials Inc name new COO

14 August 2018, Published under Cement News

Michael Haack has been appointed as President and Chief Operating Officer of Eagle Materials Inc. Prior to joining Eagle, Mr Haack spent 17 years at Halliburton Energy Services, holding successively important operating positions, culminating with the management of Global Operations for Sperry Drilling, a multi-billion dollar company in the drilling and evaluation division of Halliburton. The announcement was made by Dave Powers, CEO, who commented that "Michael has been serving as our C...

Eagle Materials sees record revenues

06 August 2018, Published under Cement News

Eagle Materials Inc saw its 1QFY18-19 revenues hit record levels at US$393.8m, up eight per cent YoY. Net earnings rose 12 per cent from US$54.882m in 1QFY17-18 to US$66.339m in 1QFY18-19. The company saw its results mainly impacted by a US$6.5m pretax increase in maintenance expenses, primarily due to the timing of the annual maintenance outage at the Fairborn cement plant, but also by a US$1.8m litigation loss at its Paperboard subsidiary and US$1.6m of start-up costs at its new frac san...

Eagle Materials chairman to retire from board

19 June 2017, Published under Cement News

Eagle Materials Inc announced that Laurence E Hirsch, chairman, informed he has decided to retire from the board. Richard R Stewart, currently vice chairman of Eagle Material, will succeed Hirsch as chairman.