Eagle sputters in Q3

Eagle Materials Inc. reported some discouraging details regarding its third quarter of fiscal 2016, ended Dec. 31, 2015.

Net revenues were down 5% to $277.4 million, for example. Additionally, net earnings were down 12% to $45.8 million.

One metric that did see improvement: cash flow from operations of $108.7 million, up 66%.

Additionally, performance varied across the company's segments.

Cement earned "record" third-quarter earnings of $41.8 million, up 11%. That's despite Texas and Oklahoma's trials with heavy rains in October and December, which led to lower sales volumes. Texas' increased demand for construction grade cement continues to offset much of the impact from lower oil well cement demand.

However, gypsum wallboard sales volumes did not benefit from pre-buying activity. Gypsum, Wallboard and Paperboard reported revenues of $131.7 million, down 9% year-over-year.