Eagle Materials (NYSE: EXP) reported Q2 EPS of $1.72, $0.12 better than the analyst estimate of $1.60. Revenue for the quarter came in at $414.5 million versus the consensus estimate of $381 million.

Commenting on the second quarter results, Michael Haack, President and CEO, said, “We are proud to have achieved record revenue and net earnings per share for the second quarter of our fiscal year 2020. Our second quarter performance was driven mostly by increased cement shipments, cost control initiatives and strong operational execution, as we capitalized on the robust underlying demand across our geographic footprint. Notably, our Cement sales volume was up 14% to a record 1.8 million tons. Market demand for our Wallboard also remained healthy when adjusted for buying activity ahead of our Wallboard price increase last year. The outlook for the remainder of the year continues to be positive. Demand for our building materials and construction products is supported by a number of favorable market dynamics including ongoing growth in jobs, high consumer confidence and low interest rates.”

Mr. Haack concluded, “Our low-cost operations continued to generate strong cash flow, which we are investing to further improve our operational efficiency and low-cost position, while at the same time we continued to repurchase shares in line with our capital allocation strategy. During the first half of our fiscal year, we purchased approximately 3.6 million shares, or 8% of our outstanding shares, and we returned more than $320 million to shareholders, through a combination of share repurchases and dividends.”

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