Overview
Eagle Materials fiscal Q1 revenue rises 4% to $634.7 mln, beating expectations
Net earnings for fiscal Q1 fall 8% to $123.4 mln
Co repurchased 358,000 shares for $79 mln
Outlook
Eagle Materials expects to benefit from U.S. infrastructure renovation needs
Company anticipates housing market recovery will improve its positioning
Eagle Materials investing in plant modernization for long-term growth
Result Drivers
MACROECONOMIC UNCERTAINTY - Co cites ongoing macroeconomic and policy uncertainty impacting results
ADVERSE WEATHER - Adverse weather conditions across markets affected performance
FACILITY INVESTMENTS - Investments in modernizing Mountain Cement and Duke Gypsum Wallboard plants aim to strengthen competitive position
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$634.70 mln
$609.70 mln (10 Analysts)
Q1 EPS
$3.76
Q1 Net Earnings
$123.40 mln
Q1 Adjusted EBITDA
$215 mln
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 8 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the construction materials peer group is "buy."
Wall Street's median 12-month price target for Eagle Materials Inc is $243.00, about 9.1% above its July 28 closing price of $220.92
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 14 three months ago
Press Release: ID:nBw3S4Gq3a
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)