Eagle Materials reports big gains for the fiscal year
Dallas-based building materials manufacturer and distributor Eagle Materials reported big sales and earnings gains for the fiscal year ended March 31.
The maker and distributor of cement, gypsum wallboard and other materials reported full year revenues of $642.6 million, an increase of 30%. Net earnings for the year were $57.7 million, up from $18.7 million a year ago.
Fiscal 2013 operating earnings from gypsum wallboard and paperboard were $94.9 million, an increase of 308% compared to fiscal 2012, the company said. Revenues from gypsum wallboard and paperboard were $382.1 million for fiscal 2013, 29% higher than last year’s revenues.
Eagle operates 40 facilities across the U.S.
Fourth quarter revenues increased 36% to $159.1 million. Net income for the quarter declined 13% to $7.8 million.
Fourth quarter sales volumes improved across all businesses, reflecting improving construction fundamentals in the US and the addition of recent acquisitions, the company said.
The compay also saw prices improve in all businesses other than paperboard. Gypsum Wallboard experienced the most significant improvement, with an increase in average net sales prices of 23% as compared with the prior year’s fourth quarter.