Eagle Materials Q2 revenue beats estimates, helped by public infrastructure demand
EXP•EXP•EXP•EXP•Eagle Materials reported fiscal Q2 revenue of $652.7 million, above the $636.34 million consensus estimate. The company repurchased about $62 million of shares during the quarter.
Fiscal Q2 revenue rose to $652.7 million, beating analysts’ $636.34 million estimate. Net earnings were $111.5 million, EPS was $3.63 and adjusted EBITDA was $202.7 million.
Public infrastructure spending and large private non-residential projects supported demand for Heavy Materials products. Lower net sales prices for Gypsum Wallboard and higher freight costs weighed on Light Materials earnings, while higher diesel prices and interest rates increased transportation and operating costs.
Eagle Materials said higher interest rates and economic uncertainty may continue to affect construction activity. It continues to invest in facility modernizations to enhance efficiency and production capacity.
