Eagle Materials soars in first quarter

Dallas-based Eagle Materials reported record revenues of $297.5 million, up 4% from the same quarter a year ago.

Net earnings increased 20% to $45.3 million

In its earnings announcement, the company said: “Eagle’s construction products and building materials businesses performed well during the quarter, with the Cement business reporting record first quarter operating earnings of $31.6 million.

In the cement, concrete and aggregates business, revenues were up 13%. Gypsum wallboard and paperboard revenues were up 4%.

First quarter cash flow from operations improved 162% and was used to fund capital improvements, pay dividends, reduce debt and repurchase shares, the company said. Eagle ended the quarter with a net debt-to-capitalization ratio of 32%.