Eagle Materials posts growth in Q1

Eagle Materials posts growth in Q1

Eagle Materials has reported 7 per cent growth in its revenues in the first quarter of its 2016 fiscal year to $285 million. First quarter net sales prices improved across nearly all businesses, with a notable increase in the cement and concrete businesses. Extraordinarily wet weather in many of its cement markets, including Texas, Oklahoma and Colorado, adversely impacted the timing of cement sales volumes during the first quarter.

However, Eagle Materials reported that its underlying demand for its cement continues to remain strong. In addition, all of its cement facilities completed their planned annual outages during the first quarter and cement maintenance costs were approximately $3 million higher than the previous year´s first quarter.

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