Eagle Materials: Agg revenue down to end 2021

Eagle Materials reports a 3 percent drop to $42.4 million in aggregates and concrete revenue in its fiscal third quarter spanning October to December 2021.

Third-quarter operating earnings for aggregates and concrete also decreased – by 19 percent – to $4.1 million.

These declines reflect lower aggregate and concrete sales volumes and higher fuel costs that were partially offset by improved pricing, the company says.

Total quarterly revenue in the company’s heavy materials sector, which includes aggregates, cement and concrete, as well as joint-venture and intersegment cement revenue, was up 9 percent to $303.5 million. Heavy materials operating earnings increased 11 percent to $84 million, the company adds, primarily due to improved cement sales volumes and net sales prices.

Eagle Materials, which manufactures and distributes aggregates, concrete, portland cement, gypsum wallboard, recycled gypsum paperboard, says its overall third-quarter revenue was a record $463 million. That mark is a 14 percent increase from the prior-year quarter.

“We continue to see positive demand trends across our geographic footprint, driven by increased residential construction activity and expanded infrastructure investment,” says Michael Haack, president and CEO of Eagle Materials. “These trends should support growing construction activity and contribute to attractive pricing across our heavy and light materials business.”