Eagle Materials posts record Q3

Eagle Materials, the building products manufacturer and distributor, reported third quarter 2018 revenues increased 19% to $359.4 million from third quarter 2017 revenues of $302.4 million.

The Dallas, Texas-based company also reported third quarter 2018 net earnings of $101.3 million, nearly doubling net earnings of $56.4 million in the same period a year ago and a company record. Eagle’s third quarter included a tax benefit of approximately $61 million as a result of the Tax Cuts and Jobs Act, the company said.

Cement revenues for the third quarter, including joint venture, totaled $161.6 million, which was 17% higher than the same quarter last year. Concrete and aggregates reported revenues for the third quarter of $38.5 million, a decline of 5%. 

Gypsum wallboard and paperboard revenues for the third quarter totaled $162.6 million, which were 11% greater than the same quarter a year ago. 

Eagle Materials Inc. manufactures and distributes cement, gypsum wallboard, recycled paperboard, concrete and aggregates, along with oil and gas Proppants from over 75 facilities across the country