Eagle Materials (NYSE: EXP) reported Q4 EPS of $1.56, $0.33 better than the analyst estimate of $1.23. Revenue for the quarter came in at $343 million versus the consensus estimate of $333.59 million.

Fourth Quarter Fiscal 2021 Results

• Record revenue of $343 million, up 12%
• Net Earnings of $66 million, down 9%
• Net Earnings from Continuing Operations of $66 million, down 5%
• Diluted earnings per share from continuing operations of $1.56, down 7%
  • Prior-year fourth quarter net earnings benefitted by $31.7 million, $0.76 per diluted share, from the carryback of net operating losses to prior years, as allowed under the CARES Act
• Adjusted EBITDA from Continuing Operations of $124 million, up 22%
  • Adjusted EBITDA from Continuing Operations is a non-GAAP financial measure calculated by excluding non-routine items and certain non-cash expenses in the manner described in Attachment

Commenting on the annual results, Michael Haack, President and CEO, said, “Across all measures, fiscal 2021 was extraordinary for Eagle as we met and overcame challenges that were inconceivable just a year earlier. The resilience of our business model, our financial discipline and our team’s operational and strategic execution allowed us to deliver record financial results, integrate the largest acquisition in the Company’s history and further streamline our business portfolio by divesting several non-core businesses, all while achieving industry leading safety performance. Our strong operating cash flow enabled us to reduce leverage to under 1.5 times net debt-to-EBITDA, providing us with significant liquidity and increased financial flexibility.”

Mr. Haack continued, “As we begin our new fiscal year, Eagle is well-positioned, both geographically and financially, with ample raw material reserves to capitalize on the underlying demand fundamentals that are expected to support steady and sustainable construction activity growth over the near and long-term. We remain confident in Eagle’s prospects for continued growth and sustainable value creation for all shareholders.”

Mr. Haack concluded, “I want to thank our dedicated employees for their exceptional efforts and focus during this unprecedented time. We have a long history of managing through challenging market conditions, and we have once again shown the benefits of our business model as we navigated through this unpredictable year.”

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