Eagle Materials reports cement revenues up 3% in 1QFY22
30 July 2021
Eagle Materials Inc's financial results for the first quarter of FY22, ended 30 June 2021 saw revenue in the Heavy Materials sector, which includes cement, concrete and aggregates, joint venture and intersegment cement revenue, reach US$315m, a three per cent YoY improvement. Heavy Materials operating earnings also increased three per cent to US$67.9m primarily because of improved cement sales prices.
Cement revenue, including Joint Venture and intersegment revenue, was up three per cent to US$270.3m. Operating earnings were also up three per cent to a record US$62.5m. These increases reflect improved cement quarterly sales prices, partially offset by lower cement sales volume. The average net cement sales price for the quarter was up seven [er cent to US$116.34 per tonne. Cement sales volume for the quarter was down two per cent to 2Mt, mainly because of heavy rainfall in Texas during the quarter.