US-based Eagle Materials Inc. has released its results for the quarter ending 31 December 2014, the third quarter of the company’s fiscal year 2015. During the period, Eagle Materials achieved record quarterly revenues of US$292 million, an increase of 27% on the previous fiscal year’s third quarter.
Cement operating earnings were up 44% y/y to US$37.6 million, driven by record sales volumes (+8%) and a rise in average net cement sales prices. Cement revenues grew by 17% y/y to US$124 million, including the company’s joint venture and intersegment revenues.
Higher concrete sales volumes and improved concrete and aggregates pricing helped operating earnings for the company’s concrete and aggregates segment to reach US$1.6 million, up US$3.1 million on the corresponding period in the previous year.
Gypsum wallboard and paperboard achieved a 31% y/y increase in third quarter operating earnings, which rose to US$49.1 million. Revenues grew by 16% y/y to US$144.2 million. Sales volumes of gypsum wallboard and paperboard improved by 4% and 17%, respectively.
Eagle Materials’ oil and gas proppants business segment recorded revenues of US$31.7 million and operating earnings of US$3.2 million.
Adapted from press release by Louise Fordham
Read the article online at: https://www.worldcement.com/the-americas/04022015/eagle-materials-announces-record-quarterly-results-273/