Eagle Materials Concrete and Aggregates Revenue Spikes 30%

Eagle Materials Inc. reported financial results for the third quarter of fiscal 2023 ended Dec. 31, 2022. The company is reporting record revenue of $511 million, up 10%.; and record net earnings of $117 million, up 14%. Revenue in the Heavy Materials sector, which includes Cement, Concrete and Aggregates, as well as Joint Venture and intersegment Cement revenue, was up 3%…

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Michigan Aggregate Audit Concerns

Dec. 22, 2022 – The Michigan Department of Transportation reportedly failed to provide documentation showing proper inspections of aggregates and aggregate suppliers used in road construction projects, according to an audit report. The Detroit News said overall, the audit conducted on department records dated between October 2018 and June 2021 found three material conditions, but also said the department’s operations…

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Single-Family Housing Starts Continue to Fall

Single-family housing starts continued to fall in November, with the pace of construction down 32% since February when mortgage rates began to rise. The housing market continues to weaken because stubbornly high construction costs, elevated interest rates and flagging demand are harming housing affordability. And with the count of multifamily units under construction reaching a near 50-year high, multifamily permit…

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Holcim US Makes Colorado Acquisition; Green Power Commitment

Holcim US announced it has acquired a new aggregate operation from J-2 Contracting Co., one of Colorado’s premier general contractors. With this strategic transaction, Holcim gains a large volume of high-quality aggregate reserves and strengthens its place as a long-term, reliable aggregate supplier in Colorado, one of its fastest-growing markets in the United States.

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NSSGA Member Testifying at Upcoming EPW Hearing

Nov. 28, 2022 – On Wed., Nov. 30 at 10:00 a.m. EST, National Stone, Sand & Gravel Association (NSSGA) member Gary W. Johnson, vice president of land and quarry operations at Granite Construction Co., will participate in a hearing held by the Committee of Environment and Public Works on the Bipartisan Infrastructure Law Implementation, examining private sector perspectives. He will share a first-hand perspective on the value aggregates…

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Single-Family Housing Contraction Continues in October

Overall housing starts decreased 4.2% to a seasonally adjusted annual rate of 1.43 million units in October, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The October reading of 1.43 million starts is the number of housing units builders would begin if development kept this pace for the next 12…

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Chaney Enterprises Announces New Concrete Plant in Virginia

Aggregates and ready-mix concrete ready-mix concrete producer Chaney Enterprises announced the opening of its Norfolk concrete plant in Virginia. Chaney Enterprises’ new ready-mix concrete plant in southeastern Virginia is tactically placed in proximity to downtown Norfolk, the Norfolk Naval Shipyard, the Naval Operations Base (NOB), Norfolk International Airport, Little Creek Amphibious Base and the southside shipyards. The Norfolk concrete plant,…

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