Dallas-based Eagle Materials has reported record revenues of $366.1m for the first quarter of the year ending June 30, 2017 compared to the same period last year.
This represented a rise of 23%. Earnings before interest and income taxes jumped 22%, reflecting improved sales volumes and net sales prices across nearly all businesses and the financial results of the recently acquired cement plant in Fairborn, Ohio and related assets, said the company.
Cement revenues for the first quarter, including joint venture and intersegment revenues, totalled $182.9m, which was 26% higher than the same quarter last year. The average net sales price for this quarter was $106.95 per ton, 6% higher than the same quarter last year. Total cement sales volumes for the quarter were over 1.5 million tons, 21% higher than the same quarter a year ago. Like-for-like average net cement sales prices and sales volumes increased 4% and 7%, respectively, versus the first quarter of fiscal 2017 (comparison excludes cement sales from the Fairborn Business since its acquisition date).
Operating earnings from Cement for the first quarter were a record $43.2m and 37% greater than the same quarter a year ago. The earnings improvement was driven primarily by improved average net cement sales prices and cement sales volumes and earnings from the Fairborn Business.
Concrete and Aggregates reported revenues for the first quarter of $43.5m, an increase of 26%. First quarter operating earnings were $6m for the first quarter, a 63% improvement from the same quarter a year ago, reflecting improved concrete and aggregates pricing and concrete sales volumes.
