Eagle Materials (EXP) Tops Q3 EPS by 6c

Eagle Materials (NYSE: EXP) reported Q3 EPS of $2.53, $0.06 better than the analyst estimate of $2.47. Revenue for the quarter came in at $463 million versus the consensus estimate of $462.73 million.

ommenting on the third quarter results, Michael Haack, President and CEO, said, “Our record results this quarter reflect both continued strength in US construction activity and excellent execution by our team as supply chain challenges continued to dominate the broader industrial marketplace. We generated strong free cash flow during the quarter, and repurchased 1.2 million shares of our common stock for a total cash return to shareholders of nearly $200 million.”

“I’m also proud to share that, during the first nine months of our fiscal year, we achieved the best safety performance in our history, demonstrating our deep commitment to our people and their well-being. During the quarter, we also continued to make strides towards our environmental stewardship goals; we are now producing and selling our eco-friendly Portland Limestone Cement from four Eagle cement facilities.”

Mr. Haack concluded, “We continue to see positive demand trends across our geographic footprint, driven by increased residential construction activity and expanded infrastructure investment. These trends should support growing construction activity and contribute to attractive pricing across our heavy and light materials businesses. We enter the last quarter of our fiscal year in a position of strength, with an excellent balance sheet enabling us to continue to execute on our core strategies.”

For earnings history and earnings-related data on Eagle Materials (EXP) click here.

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