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Dec 31, 2025
Eagle Materials Q3 2026 Earnings Report
Eagle Materials reported a mixed performance in the third quarter of fiscal 2026, with strong growth in Heavy Materials offset by declines in Light Materials.
Key Takeaways
Eagle Materials Inc. reported third-quarter fiscal 2026 revenue of $556.0 million and net earnings of $102.9 million, or $3.22 per share. The Heavy Materials sector saw significant growth, with Cement sales volume up 9% and organic Aggregates sales volume up 34%, driven by public infrastructure projects and private non-residential construction. Conversely, the Light Materials sector experienced a decline in revenue due to lower Wallboard and Paperboard sales volumes and prices.
Revenue for the third quarter was $556.0 million, a slight decrease from the prior year.
Net earnings were $102.9 million, with diluted EPS at $3.22.
Heavy Materials revenue increased by 11% to $390.2 million, driven by higher Cement and Aggregates sales volumes.
Light Materials revenue decreased by 16% to $203.5 million due to lower Wallboard and Paperboard sales volumes and prices.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Eagle Materials anticipates continued strong cash flow generation and strategic investments to enhance operational efficiency and competitive positioning, despite a mixed construction environment. The company expects to leverage its financial flexibility for disciplined capital allocation and long-term growth.
Positive Outlook
- Continued strong cash flow generation from low-cost operations.
- Ongoing investments in modernizing Laramie Cement plant and Duke Gypsum Wallboard plant to lower costs and improve reliability.
- Strengthened financial position with the issuance of $750 million in 10-year senior notes, extending debt maturity and increasing liquidity.
- Significant return of cash to shareholders through dividends and share repurchases.
- Strong market position, advantaged capital structure, and rigorous operating discipline supporting continued success.
Challenges Ahead
- Mixed construction environment, with challenges in the residential construction market.
- Decline in Light Materials revenue due to lower Wallboard and Paperboard sales volumes and prices.
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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