Eagle Materials Reports Q4 Beat, Increases Repurchase Authorization


Eagle Materials (NYSE:EXP) reported its Q4 results, with EPS coming in at $1.90, beating the Street estimate of $1.77. Revenue was $413.1 million, compared to the Street estimate of $400.62 million. The company also increased its repurchase authorization to 10.3 million (25% of outstanding share count).
Despite broader concerns around energy cost inflation and a decelerating/declining housing backdrop, the company continued to deliver strong pricing gains and margin expansion across both its Heavy and Light Materials segments.
Moreover, the company has enacted mid-year price increases across the majority of its business lines to further offset any inflationary pressures (particularly in energy/freight), which should embed some margin resilience in the upcoming fiscal year.


Follow us on Google news for more updates and News










Full Disclaimer








>

FREE

Get the most important news and analyses for Free.

Thank you for subscribing.

Something went wrong.