Eagle Materials reported third-quarter fiscal revenues for its concrete and aggregate segments at $38.5 million, a 5 percent decline compared with the same period one year ago.
In addition, third-quarter earnings were $3.4 million, which is 26 percent below the same period one year ago. According to Eagle Materials, the decrease reflects lower concrete and aggregate sales volumes partially offset by record third-quarter concrete and aggregate sales prices.
Sales volumes at the Eagle Materials’ Austin, Texas, concrete and aggregate business were impacted by wet weather in the latter portion of the quarter, the company adds.
Cement revenues, including joint-venture and intersegment revenues, totaled $161.6 million in the third quarter, which was a 17 percent increase compared with the same quarter last year. The average net sales price for the quarter was $106.83 per ton.
As a whole, the company reported revenues of $359.4 million in the third quarter. That’s a 19 percent increase compared with the same quarter last year. In addition, Eagle Materials’ record net earnings per diluted share was $2.08, up 78 percent, and its third-quarter gross profit improved 8 percent.
