Record cement sales for Eagle Materials in fiscal 2015

US-based Eagle Materials Inc. has released its results for both fiscal 2015 and the fiscal fourth quarter, which ended 31 March 2015.

Fiscal year 2015

• The company’s revenue increased by 19% to reach US$1.1 billion.
• Earnings before interest and income taxes improved by 32% y/y to reach US$264.7 million. This rise was aided by increased sales volumes across most business lines.
• Cement sales volumes reached a record 4.8 million t.
• Cement operating earnings grew 31% to US$117.5 million, an annual record.
• Cement revenues, including joint venture and intersegment sales, were up by 12% to reach US$488.6 million.
• Eagle Materials’ concrete and aggregates business achieved a 12% rise in revenue. Operating earning increased from US$0.2 million to US$6.7 million.
• Operating earnings for Gypsum Wallboard and Paperboard reached US$177.4 million, up 28%, with revenue improving by 13%.
• The company’s Oil and Gas Proppants business has reported revenue of US$81.4 million and an operating loss of US$2.5 million.

Fiscal fourth quarter

• Eagle Materials’ revenue totalled US$223.8 million, representing growth of 18%.
• Earnings before interest and income taxes were up 31% to US$44.4 million.
• Operating earnings for cement reached US$21 million, up 74% on the corresponding quarter last year.
• Cement revenue came in at US$90.8 million, an increase of 11%.
• Gypsum Wallboard and Paperboard achieved operating earnings of US$38.3 million, representing a rise of 32%.
• Revenues for the Gypsum Wallboard and Paperboard business also improved, increasing by 5% to US$111.9 million.

Skyway plant acquisition

Eagle Materials has entered into a definitive agreement with Holcim (US) Inc. to acquire its Skyway facility in South Chicago. This has the capacity to produce 600 000 tpy of granulated ground blastfurnace slag. The facility is being divested by Holcim as part of the competition requirements surrounding the LafargeHolcim merger. The transaction, which is expected to close in Eagle Materials’ second fiscal quarter, is subject to the closing of the merger.

Adapted from press release by Louise Fordham

Read the article online at: https://www.worldcement.com/the-americas/15052015/eagle-materials-releases-fiscal-2015-results-849/