Quarterly aggregate, concrete revenues up at Eagle Materials

Eagle Materials completed its first quarter of fiscal 2021 on June 30, recently publishing details about its performance of late.

According to the company, it had a record revenue of $428 million – a 15 percent increase from the prior-year quarter.

Eagle Materials experienced some significant improvements within its heavy materials sector, as well. The sector, which includes aggregate, cement, concrete and joint-venture and intersegment cement revenue, achieved a revenue of $305.5 million in the quarter – a 30 percent improvement, Eagle Materials says.

By themselves, aggregate and concrete revenues increased 12 percent to $44.1 million in the quarter. According to the company, this specific revenue improvement was due to the results of aggregate and concrete businesses it acquired last August. The sale of northern California aggregate and concrete businesses in the quarter partially offset the revenue improvement, though.

“Against the backdrop of a global health crisis and unprecedented business disruption, our company continued to perform well during the quarter, and our markets have proven to be resilient in the current environment,” says Michael Haack, president and CEO at Eagle Materials.

“We are closely monitoring the disruptions caused by the COVID-19 pandemic and their possible impact on our business in current and future periods,” Haack adds. “With this in mind, we continue to enforce strict health and safety protocols to protect our employees, customers and business partners, and we will continue to manage our cash flow prudently and protect our balance sheet.”

Eagle Materials manufactures and distributes portland cement, gypsum wallboard and recycled gypsum paperboard, as well as concrete, sand and aggregate from more than 75 facilities across the U.S. Eagle Materials’ corporate headquarters is in Dallas.