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Sep 30
Eagle Materials Q2 2026 Earnings Report
Eagle Materials reported its second quarter results for fiscal year 2026, ending September 30, 2025, highlighting record revenue and strong performance in Heavy Materials.
Key Takeaways
Eagle Materials achieved record revenue of $638.9 million in Q2 fiscal 2026, driven by strong demand in its Heavy Materials segment, particularly cement and aggregates. Despite a decline in Light Materials due to lower wallboard sales volume, the company reported solid net earnings and adjusted EBITDA, while also repurchasing shares and maintaining a strong balance sheet.
Record revenue of $638.9 million was achieved in the second quarter of fiscal 2026.
Net earnings per diluted share were $4.23, with total net earnings at $137.4 million.
Adjusted EBITDA reached $233.3 million, reflecting strong operational performance.
Cement sales volume increased by 8% and organic Aggregates sales volume rose by 35%, driven by public infrastructure and non-residential construction.
Eagle Materials
Eagle Materials
Eagle Materials Revenue by Segment
Eagle Materials Revenue by Geographic Location
Revenue by Segment
Cement Revenue
CapyFin.comConcrete and Aggregates Revenue
CapyFin.comGypsum Wallboard Revenue
CapyFin.comRecycled Paperboard Revenue
CapyFin.comRevenue by Geographic Location
Total Revenue
CapyFin.com Forward Guidance
Eagle Materials is well-positioned for future growth, anticipating recovery in the housing market and continuing investments in plant modernization and expansion to enhance cost structure, reliability, and production capabilities.
Positive Outlook
- Strong balance sheet provides substantial financial flexibility for capital allocation and long-term growth.
- Continued investments in modernizing and expanding the Mountain Cement plant are on-time and within budget.
- Initiated modernization of the Duke, OK Gypsum Wallboard plant to lower costs and improve reliability.
- Anticipates capitalizing on the future recovery of the housing market.
- Strong free cash flow is expected to support additional high-return investments and deliver shareholder value.
Challenges Ahead
- New residential construction activity remains constrained by housing affordability concerns.
- Persistently elevated mortgage rates continue to impact the housing market.
- Other macroeconomic uncertainties are contributing to housing market constraints.
- Light Materials sector experienced decreased revenue and operating earnings due to lower sales volume.
- No specific negative forward guidance was explicitly stated beyond current market conditions impacting certain segments.
Revenue & Expenses
Visualization of income flow from segment revenue to net income