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Dec 31, 2022
Eagle Materials Q3 2023 Earnings Report
Eagle Materials reported record third quarter results with EPS growth of 26%.
Key Takeaways
Eagle Materials Inc. reported record revenue of $511 million, a 10% increase, and record EPS of $3.20, a 26% increase, for the third quarter of fiscal 2023. The company's gross margins expanded by 110 bps to 31.0%, led by the Gypsum Wallboard business, which saw margins expand by 400 bps.
Record Revenue of $511 million, up 10%.
Record Net Earnings of $117 million, up 14%, and Net Earnings per share of $3.20, up 26%.
Adjusted EBITDA of $199 million, up 14%.
Repurchased 824,000 shares of Eagle’s common stock for $103 million.
Revenue by Segment
Forward Guidance
Eagle's heartland geographic footprint is well-positioned for long-term growth, supported by population-growth trends, shortages of residential units, and a multi-year federal highway bill further enhanced by state-level infrastructure spending. In the near term, the strength in private non-residential and infrastructure construction activity is expected to lessen the impact of affordability-driven headwinds in single-family residential construction.
Positive Outlook
- Population-growth trends.
- Shortages of residential units.
- Multi-year federal highway bill.
- State-level infrastructure spending.
- Strength in private non-residential construction activity.
Challenges Ahead
- Affordability-driven headwinds in single-family residential construction.
- Cyclical and seasonal nature of the Company’s businesses.
- Fluctuations in public infrastructure expenditures.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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