Eagle Materials reports strong second quarter

Eagle Materials reported quarterly revenues of $329.0 million, up 16% in the second quarter, ended Sept. 30. Net earnings, which totaled $29.8 million, down 41%, were reduced by $26.2 million (after-tax) of Non-Routine Items related to the company’s Oil and Gas Proppants Segment.

Operating earnings from Cement for the second quarter were $48.6 million, up 26% from the same quarter a year ago. The earnings increase was driven primarily by an 8% increase in average net cement sales prices and record quarterly cement sales volumes. Cement revenues for the second quarter totaled $164.8 million, up 13% from the same quarter last year. Concrete and Aggregates had operating earnings of $3.9 million, a 30% improvement from the same quarter a year ago.

Gypsum Wallboard and Paperboard reported second-quarter operating earnings of $48.1 million, up 7% from the same quarter last year. Gypsum Wallboard and Paperboard revenues for the second quarter totaled $143.3 million, an 8% increase from the same quarter a year ago.