Eagle Materials today reported financial results for fiscal year 2016 and the fiscal fourth quarter ended March 31, 2016. Highlights for the fiscal year include:
- Record revenues of $1.1 billion, up 7%
- Cash flow from operations of $265.8 million, up 14%
- Net earnings per diluted share of $3.05, down 18%
Eagle Materials Inc. manufactures and distributes Cement, Aggregates, Concrete, Gypsum Wallboard, Recycled Paperboard and Frac Sand from 40 facilities across the U.S.
Eagle’s construction products and building materials businesses performed well during the quarter, with the Cement business reporting record fourth quarter operating earnings of $21.8 million. Additionally, in Texas, increased demand for construction grade cement continues to offset much of the impact from lower oil well cement demand.
Fiscal 2016 cash flow from operations improved 14% and was used to fund capital improvements, pay dividends, reduce debt and repurchase shares. Eagle ended the quarter with a net debt-to-capitalization ratio of 33%.
