What is the market's earnings forecast for Eagle Materials next quarter?

What does Eagle Materials do and what are its main business segments?

Did Eagle Materials beat or miss consensus estimates last quarter?

What guidance did Eagle Materials's management provide for the next earnings period?

What were the key takeaways from Eagle Materials’s earnings call?

What factors drove the changes in Eagle Materials's revenue and profit?

What is Eagle Materials's latest dividend and current dividend yield?

What were the key takeaways from Eagle Materials's earnings call?

- **Revenue resilience**: $556M Q3 revenue despite challenging construction environment
- **Sustainability leadership**: 100% waste recycling in Wallboard, repurposing industrial byproducts
- **Project momentum**: Mountain Cement plant nearing commissioning, Duke Wallboard on track for 2027
- **Financial strength**: 1.8x leverage ratio, $1.2B liquidity
- **Market trends**: Cement demand strong across markets, Wallboard pricing stable in low-growth environment

**【CEO Opening Remarks】**
- Q3 2026 revenue: $556 million, EPS: $3.22, gross margin: 28.9%. 
- Emphasized operational resilience in challenging construction environment.
- Highlighted sustainability initiatives: 
  - Cement plants repurposing waste streams
  - Aggregates using fines/overburden
  - Republic Paper Mill repurposing paper waste
  - American Gypsum recycling 100% waste wallboard.
- Major projects: 
  - Mountain Cement plant (Laramie, WY) nearing commissioning
  - Duke Wallboard plant (Oklahoma) on track for 2027 completion.
- Financial discipline: 
  - Issued $750M 10-year senior notes
  - Returned $150M to shareholders (dividends + buybacks)
  - Leverage ratio: 1.8x

**【CFO Financial Commentary】**
- **Topline**: 
  - Heavy Materials (Cement + Aggregates) up 11% vs. prior year
  - Light Materials (Wallboard + Paperboard) down 16%
- **Segment Performance**: 
  - Cement sales volume +9%, Aggregates volume +81% (organic +34%, M&A +46%)
  - Wallboard volume down 14%, pricing down 5%
- **Cash Flow**: 
  - Operating cash flow: $512M (9M FY26)
  - Capital spending: $295M (9M FY26) vs. FY26 guidance of $430-450M
- **Liquidity**: 
  - Cash: $419M
  - Total committed liquidity: $1.2B
  - No near-term debt maturities

**【Q&A Highlights】**
- **Cement Strength**: 
  - Broad-based demand across markets
  - Price increases announced for Q1 2026
  - Texas market challenges due to ownership changes
- **Wallboard Dynamics**: 
  - Residential construction weakness
  - Pricing range-bound due to cost structure improvements
  - Repair/remodel segment (~33% of demand) stable
- **Operational Resilience**: 
  - Winter storm preparedness
  - Natural gas hedging (50%+ coverage)
- **Capital Allocation**: 
  - Share buybacks ($150M+ in FY26)
  - Disciplined M&A approach
  - Priority on modernization projects (Mountain Cement, Duke Wallboard)

Eagle Materials Inc. (EXP) Q3 2026 Earnings Call Transcript

- **Record Revenue Growth**: $639M Q2 revenue (+2% YoY) driven by cement and aggregates expansion.
- **Wallboard Resilience**: 14% volume decline vs. 2025, but stable pricing amid housing pullback; long-term underbuilding (26B sq ft vs. 1990s levels) signals recovery.
- **Cement Pricing Hikes**: 2026 price increases offset oil well cement softness; volume growth (+8% Q2) supports margin expansion.
- **Capital Efficiency**: $475-500M FY26 CapEx (Laramie/Duke projects) balanced with $97M Q2 shareholder returns (buybacks/dividends).
- **Aggregates Momentum**: 35% organic growth in Western PA, 103% total (incl. TX/Rocky Mtn), with 2027 margin stabilization post-integration.


**【CEO Opening Remarks】**
- Q2 FY2026 revenue reached $639M, up 2% YoY, driven by cement and aggregates growth.
- Gross margin of 31.3% and EPS of $4.23 reflect operational efficiency despite Wallboard volume headwinds.
- Strategic investments: $430M Laramie cement plant modernization (25% cost reduction) and $20M Duke wallboard upgrade (20% cost savings).
- Safety performance: Below industry average TRIR, with HSE conference focus on proactive measures.

**【CFO Financial Commentary】**
- Heavy Materials (cement/aggregates) revenue +11% YoY, offsetting Wallboard decline (-13% due to housing pullback).
- Operating cash flow $205M, capital spending $109M (Laramie/Duke projects), with FY26 CapEx $475-500M.
- Financial flexibility: 45% net debt-to-cap ratio, 1.6x debt/EBITDA, $520M committed liquidity.
- Share buybacks ($89M) and dividends ($97M total Q2) support capital return strategy.

**【Q&A Highlights】**
- **Wallboard Volatility**: Q2 volume down 14% vs. 2025, but stable pricing reflects supply-demand balance. Long-term underbuilding (26B sq ft vs. 1990s levels) supports recovery.
- **Cement Pricing**: Announced 2026 price hikes in most markets, with volume growth (+8% Q2) offsetting oil well cement softness.
- **Aggregates Growth**: 35% organic volume growth (Western PA acquisition) and 103% total (including TX/Rocky Mtn). Margins expected to stabilize post-acquisition integration.
- **Capital Allocation**: 2027 CapEx ~$400M (down from 2026 peak), with Mountain Cement completion and Duke wallboard ramp-up. IRS 199A tax benefits accelerate depreciation for 2027 tax savings.
- **Demand Signals**: Private nonres construction (data centers, warehouses) driving cement demand, with IIJA infrastructure spending (~60% unused) supporting aggregates outlook.


Eagle Materials Inc. (EXP) Q2 2026 Earnings Call Transcript

- **Record Q1 Revenue**: $634.7M (+4%) with EPS of $3.76, despite weather challenges.\n- **Operational Excellence**: TRIR below industry average; $79M share buybacks and $87M dividends.\n- **Sustainability Milestone**: Met 2030 CO2e goal early; $430M investment in low-carbon cement.\n- **Wallboard Resilience**: Outperformed market with stable volumes, despite housing weakness.\n- **Cement Growth**: Volumes up YoY for first time since Q4 2023, driven by infrastructure spending.\n- **Strategic Investments**: $475M-$525M capex for plant modernization and tax-optimized projects.

**【CEO Summary Section】**
- Q1 2026 revenue reached **$634.7 million**, a 4% increase, with diluted EPS of **$3.76** despite challenging weather.\n- Operational focus on safety: Total Recordable Incident Rate (TRIR) below industry average.\n- Sustainability progress: Met 2030 cement CO2e intensity goal early; invested in Terra CO2 for low-carbon materials.\n- Business environment: Aggregates volumes up 117% (29% organic), cement volumes up YoY for first time since Q4 2023.\n- Wallboard volumes remain subdued due to housing affordability, but at historically low levels.\n- Capital allocation: $79M share buybacks, $87M dividends, and $475M-$525M capex for plant modernization.\n\n**【CFO Financial Commentary】**\n- GAAP net income: $234.3 million (down 5% vs. prior year).\n- Heavy Materials: Revenue +5% (cement volumes up, aggregates +21%), but operating earnings -5% due to lower production absorption.\n- Light Materials: Wallboard revenue +1%, operating earnings slightly down due to price declines.\n- Cash flow: $137M operating cash flow, $76M capex (Mountain Cement modernization, Duke Wallboard equipment).\n- Capital structure: Net debt/EBITDA 1.6x, $60M cash, $525M committed liquidity.\n\n**【Q&A Highlights】**\n1. **Wallboard Outperformance**: Geographic positioning and stable volumes despite housing weakness; margins resilient with no near-term cost swings.\n2. **JV Challenges**: Slag facility ramp-up drag and Texas weather; volumes down 12%.\n3. **Cement Volumes**: Consistent Q1 performance driven by infrastructure; no regional disparities.\n4. **Wallboard Outlook**: Affordability headwinds persist, but long-term housing demand positive.\n5. **Cement Pricing**: Short-term cautious, but potential for improvement in fall with tighter supply-demand.\n6. **Tax Impact**: Accelerated depreciation to reduce cash taxes; Mountain Cement project ($430M) to significantly lower future tax payments.

Eagle Materials Inc. (EXP) Q1 2026 Earnings Call Transcript

- **Record Financials**: FY2025 revenue and EPS hit all-time highs, underpinned by price increases and disciplined capital allocation.
- **Strategic Investments**: $330M Duke Wallboard and $195M Mountain Cement projects target 50% capacity growth and 25% cost savings.
- **Safety & Sustainability**: Lowest TRIR in company history and $22M wastewater upgrade reducing water consumption by 50%.
- **Market Recovery**: Cement volumes improving post-weather, with FY2026 outlook driven by infrastructure spending and private non-res demand.
- **Wallboard Pricing**: Spring price hikes underway, with long-term margin expansion tied to housing starts rebound.

**【CEO Summary Section】**
- Fiscal 2025 revenue reached a record $2.3 billion, with EPS of $13.77, driven by price increases across all business lines.
- Safety performance improved with the lowest TRIR in company history and a 25% rise in hazard reporting.
- Major investments include $330M Duke Wallboard modernization and $195M Mountain Cement expansion, targeting 50% capacity growth.
- Acquired two aggregates businesses, boosting production capacity by 50%, and completed alternative fuel projects to reduce costs and emissions.

**【CFO Financial Commentary】**
- Q4 2025 revenue was $470M, down 1% YoY due to lower cement and wallboard volumes, offset by price increases.
- Operating earnings in Heavy Materials fell 11% to $311M, impacted by adverse weather and maintenance costs.
- Light Materials revenue rose 3% to $969M, driven by higher wallboard prices and paperboard volume.
- Capital spending for FY2026 is projected at $475M-$525M, with a focus on high-return projects like Mountain Cement and Duke Wallboard.
- Net leverage ratio remained strong at 1.5x, with $560M total liquidity.

**【Q&A Key Takeaways】**
- **Capital Allocation**: Projects like Mountain Cement and Duke Wallboard target 15%+ return on invested capital, with no impact on M&A flexibility.
- **Market Outlook**: Cement demand recovery expected in FY2026, with infrastructure spending lagging but improving.
- **Wallboard Pricing**: Spring price increases underway, with long-term margin expansion tied to housing recovery.
- **Tariffs**: No material impact on U.S. operations, as imports from Mexico/Canada are tariff-exempt.
- **Aggregates Pipeline**: Open to further acquisitions if they meet financial return criteria and integrate with existing networks.

Eagle Materials Inc. (EXP) Q4 2025 Earnings Call Transcript

- **Strategic Expansion**: Bullskin acquisition bolsters aggregate presence in high-growth PA market.
- **Sustainability Gains**: 50% water reduction at Republic Paperboard; CO2 intensity improvements in cement.
- **Resilient Margins**: Wallboard operating earnings up 18% to $97M; heavy materials costs offset by price hikes.
- **Cash Power**: $486M operating cash flow; $201M share buybacks and $226M total returns to shareholders.
- **Market Outlook**: Optimism on federal infrastructure spending and housing recovery driving long-term growth.

**【CEO Strategic Initiatives】**
- **Safety Excellence**: Achieved lowest TRIR in company history, with ongoing investments in safety protocols and leading indicators.
- **Sustainability Progress**: Completed cement plant modernizations (e.g., Mountain Cement) reducing CO2 intensity; 50% water usage reduction at Republic Paperboard facility.
- **Acquisition of Bullskin Stone & Lime**: Expanded aggregate footprint in Western Pennsylvania, aligning with regional growth trends and DOT spending.

**【CFO Financial Highlights】**
- **Q3 Revenue**: $558M, down 4% YoY due to cement volume decline, offset by wallboard price hikes.
- **EPS**: $3.56, driven by 3% share reduction via buybacks.
- **Segment Performance**: 
  - **Heavy Materials**: Cement sales down 7% YoY due to extreme weather; operating earnings -20% vs. prior quarter.
  - **Light Materials**: Wallboard volume +2%, recycled paperboard +7%; operating earnings +18% to $97M.
- **Cash Flow & Capital Allocation**: 
  - Operating cash flow: $486M (first 9 months); capex $147M (Laramie plant modernization).
  - Share buybacks: $201M (800K shares); dividend payments: $226M total returns.
  - Bullskin acquisition funded via cash and credit facility.

**【Q&A Key Takeaways】**
- **Aggregates Strategy**: Bullskin acquisition fits long-term heavy materials growth; open to future M&A for high-return assets.
- **Wallboard Demand**: Resilient despite housing headwinds; 2024 consumption at 27.3B sq ft, near decade lows, suggesting upside with affordability improvement.
- **Cement Pricing**: Price increases for Q1-Q2 2025; weather-related volume challenges expected to ease in spring.
- **Tariffs Impact**: Potential cement import tariffs could raise marginal costs, but Eagle's domestic focus mitigates direct risk.


Actual											1.28	1.57	2.02	1.94	1.56	2.25	2.73	2.53	1.9925	2.82	3.72	3.2	2.79	3.55	4.28	3.8454	2.3721	3.94	4.3133	3.59	2.08	3.907	4.3984	3.3923
Forecast											0.8705	1.1157	1.8557	1.7325	1.2312	2.0635	2.7077	2.457	1.7256	2.7981	3.5761	3.233	2.296	3.5715	4.2551	3.5549	2.6698	3.5452	4.6732	3.9069	2.4779	3.6777	4.3536	3.4077
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+47.04%	+40.72%	+8.85%	+11.98%	+26.71%	+9.04%	+0.82%	+2.97%	+15.47%	+0.78%	+4.02%	-1.02%	+21.52%	-0.60%	+0.59%	+8.17%	-11.15%	+11.14%	-7.70%	-8.11%	-16.06%	+6.23%	+1.03%	-0.45%

EXP

EXP fundamentals

EXP Q3 2026 Earnings

Earnings Call

You can ask Aime

EXP

EXP fundamentals

EXP Q3 2026 Earnings

Earnings Call

EXP Earnings Call Summary for Q3/20268:30 AM on Jan 29, 2026

EXP Earnings Call Summary for Q2/20268:30 AM on Oct 30, 2025

EXP Earnings Call Summary for Q1/20268:30 AM on Jul 29, 2025

EXP Earnings Call Summary for Q4/20258:30 AM on May 20, 2025

EXP Earnings Call Summary for Q3/20258:30 AM on Jan 29, 2025

You can ask Aime