Eagle Materials net earnings down 12% in Q3 fiscal 2016

US-based 8108 Eagle Materials saw its net earnings drop 12% from a year ago to US$45.8 million in Q3 of fiscal 2016 (ended 31 December 2015). Its net earnings for each diluted share fell by 11% to $0.92 while revenue decreased by 5% to $277.4 million. Operations' cash flow increased by 66% to USD 108.7 million.

Moreover, earnings from its cement business rose by 11% to USD 41.8 million. Cement sales grew by 1% to 1.2 million tons and revenue expanded by 9% to $135.4 million. Also, earnings for its aggregates and concrete division decreased by 7% to $1.5 million.

Meanwhile, revenue from Eagle Materials’ gypsum wallboard and paperboard unit dropped by 9% to $131.7 million. Operating earnings declined by 8% to $45.2 million. Also, revenue from its oil and gas proppants business fell by 73% to $8.5 million.