Eagle Materials Off to Good Start in First Quarter

Eagle Materials Inc of Dallas, TX has reported net earnings of US$95.3 million on revenues of US$475.8 million for its fiscal 2022 first quarter, the three months ended June 30, 2021 compared with US$96.2 million on revenues of US$427.0 million in the corresponding period of 2020. The company’s growth in revenue was largely a result of increased sales of gypsum wallboard.

Eagle’s Light Materials segment, which includes gypsum wallboard, reported an operating profit of US$66.6 million on revenues of US$191.3 million compared with US$44.2 million on revenues of US$110.1 million in the prior year quarter. The figures reflect an 8% increase in wallboard shipment, to 763 million sq ft, and a 21% increase in the average selling price to US$176.79/MSF.

Eagle’s Heavy Materials segment reported an operating profit of US$67.9 million on revenues of US$284.5 million versus an operating profit of US$66.9 million on revenues of US$284.5 million in the corresponding period of 2020. The company’s sales of cement declined 2% and sales of aggregates fell 24% to 361,000 tons. Offsetting the volume declines were a 7% increase in cement price, to US$116.34/ton and a 2% increase in average aggregates price to US$9.93/ton.

Volume 35, Issue 15

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