Eagle Materials reported financial results for the second quarter of its fiscal 2026 ending Sept. 30, detailing that revenue and earnings in its heavy materials sector were up.
Revenue in the sector, which includes aggregates, cement, ready-mixed concrete and joint-venture and intersegment cement revenue, increased 11 percent to $466.5 million. Additionally, heavy materials operating earnings increased 11 percent to $127.7 million.
Eagle says higher sales volumes and the contribution from recently acquired aggregate businesses in western Pennsylvania and northern Kentucky contributed to the increases.
Revenue from aggregates and concrete in the quarter was up 24 percent to $81.6 million. Operating earnings in the two areas also increased, skyrocketing 896 percent to $7.9 million.
This is in contrast to Eagle’s second quarter of fiscal year 2025, when the company lost $995,000 in earnings. The quarter’s increase reflects record aggregate sales (2 million tons, up 103 percent), increased concrete and aggregate sales prices, and the contribution from recently acquired aggregate businesses.
Excluding recently acquired aggregate businesses, Eagle says its quarterly aggregate sales volumes were up 35 percent and its revenue increased 6 percent.
“We enter the second half of fiscal 2026 well-positioned to capitalize on near- and longer-term growth opportunities, including the future recovery of the housing market, given our strong balance sheet and continued investments in upgrading our assets and network,” says Michael Haack, president and CEO of Eagle. “During the second quarter, we continued to make good progress on modernizing and expanding our Mountain Cement plant, and the project remains on time and within budget.
“Our strong balance sheet and free cash flow should position us to favorably pursue additional high-return investments and deliver attractive shareholder value consistently through economic cycles,” he adds.
