Cement sales up 17% y/y in 3Q12 for Eagle Materials Inc.

US-based Eagle Materials Inc. has released its financial results for 3Q12, ending on 31 December 2012. Total revenues increased by 33% y/y to reach US$164.7 million, with sales volumes experiencing growth across all of the company’s business lines. Cement sales volumes came in at 818 000 t in 3Q12, up 17% y/y. The average net sales price also increased by 3% y/y, at US$82.68/t. Cement revenues grew by 22% y/y to reach US$74.9 million, while operating earnings were up 7% y/y to US$16.6 million. The results include those of the operations acquired from Lafarge on 30 November 2012. Eagle Materials Inc. purchased Lafarge North America’s Sugar Creek plant, Missouri, and its Tulsa cement plant, Oklahoma, as well as six distribution terminals, two aggregate quarries, eight ready-mix concrete plants and Lafarge’s flyash business.

Concrete and aggregates did not fare so well in 3Q12. Maintenance costs and a litigation settlement meant that operating loss increased from US$0.6 million to US$1.3 million. Meanwhile, operating earnings increased by 362% y/y for the group’s Gypsum Wallboard and Paperboard business, with revenues up 37% y/y to US$100.3 million.

Adapted from press release by Louise Fordham.

Read the article online at: https://www.worldcement.com/the-americas/07022013/cement_sales_financial_results_eagle_materials_usa_3q12_863/