Eagle Materials (EXP) Tops Q3 EPS by 20c, Revenues Beat

Eagle Materials (NYSE: EXP) reported Q3 EPS of $1.94, $0.20 better than the analyst estimate of $1.74. Revenue for the quarter came in at $404.7 million versus the consensus estimate of $385.12 million.

Third Quarter Fiscal 2021 Results

• Record third quarter revenue of $404.7 million, up 18%
• Third quarter diluted earnings per share from continuing operations of $1.94, up 87%
  • Prior-year diluted earnings per share include an asset impairment charge of $0.47 related to continuing operations

Commenting on the third quarter results, Michael Haack, President and CEO, said, “Our third quarter results demonstrate the overall resilience of our portfolio. Despite continued pandemic-related economic uncertainty, our wallboard shipments were up 9%, a third quarter record for American Gypsum, and our cement shipments were up 28%, reflecting the strong performance of the recently acquired Kosmos Cement Business and the strength of our core markets. We continued to generate strong operating cash flow, which significantly improved our balance sheet and liquidity position providing us with increased financial flexibility.”

Mr. Haack continued, “As we continue to navigate the COVID-19 environment, I want to thank our team for their exceptional work under extraordinary circumstances, delivering strong results, remaining focused on the integration of Kosmos and keeping our strategic projects on schedule. We continue to closely monitor the disruptions caused by the COVID-19 pandemic and their possible impact on our business in current and future periods. We also continue to enforce strict health and safety protocols to protect our employees, customers and business partners, and we will continue to manage our cash flow prudently and protect our balance sheet.”

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

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