Eagle Sets the Pace

Jan. 28, 2021 – The first quarterly reports of the year are starting to come in, and Eagle Materials has set the pace with a strong quarter. Given the influence of the pandemic and the economic roller coaster we have seen over the past three months, the company’s performance is quite impressive. Excluding the results from business units sold in its first fiscal quarter, the company’s Concrete and Aggregates revenue was up 13%. (The company sold its Western Aggregates and Mathews Readymix operations for $93.5 million to Teichert.) Third quarter operating earnings for Concrete and Aggregates increased 52% to $5.1 million, primarily reflecting improvements in organic Concrete sales volume, Concrete sales prices and operating efficiencies, as well as lower diesel fuel costs, the company stated. Overall for the quarter, the company saw record revenue of $404.7 million, up 18%.