Eagle Materials Q1 revenue beats estimates on cement volume growth
EXP•Outlook
- Company did not provide specific financial guidance for the current or future periods
Overview
- U.S. construction materials maker's fiscal Q1 revenue rose 3%, beating analyst expectations
- Net earnings and adjusted EBITDA declined due to higher costs and equipment failure at Mountain Cement
- Company repurchased 406,500 shares for about $84 mln in the quarter
Result Drivers
- Cement volume growth - Cement sales volume increased 8%, driven by public construction and large private non-residential projects
- Equipment failure impact - Unexpected equipment failure at Mountain Cement facility reduced earnings by about $6 mln
- Higher delivery costs - Delivery costs rose across Cement and Wallboard businesses, mainly due to elevated diesel prices
Key details and analyst coverage
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q1 Revenue | Beat | $651 mln | $619.95 mln (10 Analysts) |
| Q1 EPS |
