Eagle Materials Reports 2% Revenue Growth to $2.3B, Cash Flow Up 12%
EXP•Eagle Materials posted fiscal 2026 record revenue of $2.3 billion, a 2% increase, with heavy materials revenue up 10% driven by cement volumes and a 19% rise in concrete and aggregates. Operating cash flow rose 12% to $614 million; EPS fell 4% to $13.16 and light materials revenue dropped 9%.
1. Record Fiscal 2026 Revenue and Segment Performance
Eagle Materials delivered record annual revenue of $2.3 billion, up 2%, with fourth-quarter revenue of $479 million, up 2%. Heavy materials revenue rose 10% due to an 8% increase in cement volumes and a 19% increase in concrete and aggregates revenue, while light materials revenue declined 9% to $881 million.
2. Profitability Metrics and Cash Flow
Operating cash flow increased 12% to $614 million, supporting liquidity with $298 million cash on hand and $1 billion in committed capital. EPS decreased 4% to $13.16, reflecting lower wallboard sales prices and volume headwinds in the light materials segment.
3. Capital Allocation and Shareholder Returns
The company returned $414 million to shareholders through dividends and share repurchases. Net debt-to-capital ratio stood at 50% with net debt-to-EBITDA leverage of 1.9x after $417 million in fiscal 2026 capital expenditures.
4. Strategic Investments and Market Outlook
Ongoing upgrades at Mountain Cement and Duke Wallboard plants aim to improve cost efficiency and capacity. Federal and state infrastructure spending is expected to support heavy materials volume growth, though housing affordability challenges and higher freight costs remain near-term headwinds.
