EXP
Eagle Materials Inc.222.76
-0.19-0.09%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q3 '26
Cement broad strength, Texas pressures
Q&A revealed Cement strength is broad-based across markets entering calendar 2026, but Texas lags from competitive pressures, imports, and ownership changes impacting Lehigh JV profits despite better plant ops. Wallboard pricing stays range-bound versus prior cycles, thanks to structural cost shifts; repair/remodel holds steady at one-third of demand with low-single-digit growth. Management addressed weather prep, natural gas hedging over 50%, and flexed production to sales. Capex range of $430-450M reflects timing, not cuts. Texas remains the sore spot. Watch Cement price realization and Wallboard volume inflection.
Key Stats
Market Cap
7.23BP/E (TTM)
16.42Basic EPS (TTM)
13.57Dividend Yield
0%Recent Filings
10-Q
Q3 FY2026 results
Eagle Materials posted Q3 revenue of $556M, off 0.4% y/y but up 2% YTD to $1.83B, as cement volumes climbed 9% while wallboard softened 16%. Gross profit dipped 10% to $161M (29% margin) from higher costs and softer pricing, yet net earnings held at $103M ($3.22 diluted EPS, down 10% y/y). Cash swelled to $419M on $512M operating cash flow; free cash flow not disclosed in the 10-Q. Debt climbed to $1.785B after $742M 5% notes issuance, with $740M revolver availability. Bullskin acquisition closed Jan 2025 for $149.9M (cash), adding $72.3M goodwill and $38.6M intangibles (15-year customer relationships). Cement demand stays resilient.
8-K
Q3 earnings down but Heavy strong
Eagle Materials reported Q3 fiscal 2026 revenue of $556M and net earnings of $103M ($3.22 EPS), down from prior year amid weak residential demand but lifted by 9% cement volume growth and 34% organic aggregates surge. Issued $750M 5% senior notes due 2036 to repay credit facility, repurchased 648K shares for $143M. Net leverage stays low at 1.8x. Strong cashflow fuels plant modernizations.
8-K
Issues $750M notes, repays revolver
Eagle Materials issued $750.0 million of 5.000% senior notes due 2036 on November 13, 2025, netting $734.9 million after fees. The company will repay all revolving credit facility borrowings, with the rest for general corporate purposes. Notes rank equally with other unsubordinated debt. Covenants limit liens and mergers.
10-Q
Q2 FY2026 results
Eagle Materials posted Q2 revenue of $638.9M, up 2% y/y yet flat q/q (derived), with gross profit dipping to $199.7M on higher costs, yielding diluted EPS of $4.23 versus $4.26 prior year—reconciles cleanly to 32.5M shares. Cement drove gains via 8% volume surge to 2.2M tons, while Concrete & Aggregates swung to $7.9M profit on acquisitions; wallboard softened on residential pullback. Bullskin deal closed Jan 2025 for $149.9M (cash via revolver), adding $72.3M goodwill and $38.6M intangibles (15-year customer lives). Cash swelled to $35M on $341M OCF minus $185M capex; $1.3B debt includes $485M revolver room. Share buybacks trimmed shares 8%. Cyclical demand ties to infrastructure flows.
8-K
Record revenue, mixed volumes
Eagle Materials posted record Q2 revenue of $638.9 million, up from prior year, driven by 8% cement volume growth and 35% organic aggregates surge from infrastructure demand. Wallboard volumes fell 14% amid housing woes, yet net earnings hit $137.4 million with EPS at $4.23. Repurchased $89 million in shares; net leverage stays low at 1.6x. Plant upgrades proceed on budget.
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