NYSE$EXP

Eagle Materials Inc. · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Eagle Materials reported record revenue and strong market demand across its business lines.

Eagle Materials reported record revenue of $476 million, up 11% year-over-year. Net earnings per diluted share were $2.25, a decrease of 3%. The company's Wallboard business benefited from strong residential construction, and the Cement business benefited from infrastructure spending.

  • Achieved record revenue of $476 million, an 11% increase year-over-year.
  • Net earnings per diluted share were $2.25, down 3% compared to the prior year.
  • Gross margin increased to 26.6%, a 260 basis point improvement.
  • Completed the issuance of $750 million of 10-year senior notes and restarted the share repurchase program.

Headline financials

Total Revenue

$476M

Previous: $428M+11.2%
EPS (adj)

$2.25

Previous: $1.57+43.3%
Concrete Avg Net Sales Price

$118.19

Previous: $113.61+4.0%
Aggregates Avg Net Sales Price

$9.93

Previous: $9.77+1.6%
Gypsum Wallboard Avg Price

$176.79

Previous: $146.28+20.9%
Paperboard Sales Volume

84.0K

Previous: 77.0K+9.1%
Paperboard Avg Net Sales Price

$498.49

Previous: $461.87+7.9%
Cement Avg Net Sales Price

$116.34

Previous: $109.10+6.6%
Gypsum Wallboard Volume

763.0M

Previous: 704.0M+8.4%
Cement Sales Volume

2

No prior period
Capital Expenditures

-$11.9M

Previous: -$26M+54.1%
Free Cash Flow

$83.4M

Previous: $70.2M+18.8%
Net Income

$95.3M

Previous: $96.2M-0.9%
Operating Income

$134M

Previous: $109M+23.6%
Gross Profit

$127M

Previous: $101M+25.3%
Cash & Equivalents

$307M

Previous: $199M+53.7%
Total Assets

$2.89B

Previous: $3.02B-4.1%
Stock-Based Comp

$2.46M

Previous: $4.76M-48.4%

Revenue & EPS history

Eagle Materials · Revenue · Quarterly

$476M

Q1 2022+11.2%vs Q1 2021
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Revenue by segment

Eagle Materials · $506M total across 4 segments · Q1 2022

  • Cement (Wholly Owned)
    $270M+5.8%
  • Gypsum Wallboard
    $166M+27.8%
  • Concrete and Aggregates
    $44.8M+1.6%
  • Recycled Paperboard
    $25M+10.3%

Forward guidance

Eagle Materials expects underlying market conditions to remain strong as the US economy recovers and is well-positioned to benefit from this growth.

Tailwinds

  • Underlying market conditions are expected to remain strong.
  • The US economy is recovering.
  • The company is well-positioned to benefit from growth.
  • Completed the issuance of $750 million of 10-year senior notes.
  • Share repurchase program restarted.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

+1.2%

Avg return

Earnings day

+1.1%

Avg return

5 days after

+2.5%

Avg return

30 days after

59%

39 / 66 earnings

Positive

+12.2%

Q2 2019

Best reaction

-8.9%

Q4 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q4 2026+1.7%+1.6%+14.3%
Q3 2026-2.9%+0.8%+2.7%
Q2 2026-8.0%-10.6%-4.0%
Q1 2026+2.8%-0.2%+4.3%
Q4 2025-8.9%-11.4%-19.2%
Q2 2025-0.2%-0.5%+5.8%
Q1 2025+9.5%+2.0%+2.4%
Q4 2024-7.1%-7.3%-15.6%
Q3 2024+4.1%+10.3%+19.9%
Q2 2024-2.9%+1.2%+17.9%
Q4 2023+4.1%+3.8%+6.1%
Q3 2023-2.5%+0.9%-4.1%
Q2 2023-1.0%-0.2%+9.8%
Q1 2024+0.4%-2.1%-2.8%
Q1 2023+0.4%-2.1%-2.8%
Q4 2022-1.2%+1.3%-11.2%
Q3 2022+0.7%+3.2%-3.9%
Q2 2022+7.5%+12.9%+15.4%
Q1 2022+7.0%+5.5%+17.7%
Q4 2021-4.0%-1.8%-7.8%
Q3 2021+1.5%+6.8%+15.7%
Q2 2021+2.7%+11.1%+12.0%
Q1 2021-1.0%+1.6%+4.1%
Q4 2020+5.5%+10.7%+22.8%
Q3 2020-1.1%-7.0%-11.6%
Q2 2020+3.4%+1.5%+0.4%
Q1 2020-5.4%-6.3%-4.4%
Q4 2019+3.2%+3.4%-0.6%
Q3 2019+2.6%+6.5%+11.1%
Q2 2019+12.2%+17.8%+11.3%
Q1 2019-8.3%-8.0%-13.7%
Q4 2018+1.8%+3.4%+6.1%
Q3 2018-4.1%-10.4%-13.8%
Q2 2018-3.9%-4.2%-4.1%
Q1 2018-0.7%-0.6%-5.1%
Q4 2017+3.4%+2.8%-2.6%
Q3 2017+7.3%+4.5%+1.3%
Q2 2017+3.1%+4.0%+23.2%
Q1 2017+2.4%+0.0%-0.5%
Q4 2016-4.0%
Q3 2016+11.8%
Q2 2016+1.1%
Q1 2016+3.0%
Q4 2015-5.3%
Q3 2015+4.1%
Q2 2015+0.7%
Q1 2015+7.3%
Q4 2014-0.1%
Q3 2014-1.8%
Q2 2014-2.6%
Q1 2014+1.6%
Q4 2013+3.8%
Q3 2013-2.6%
Q2 2013+9.9%
Q1 2013+12.2%
Q4 2012+4.4%
Q1 2010-0.1%
Q4 2009-0.1%
Q1 2012+2.7%
Q4 2011+1.0%
Q3 2010+1.1%
Q3 2011+1.1%
Q2 2011+1.9%
Q2 2010+1.9%
Q1 2011-0.6%
Q4 2010-0.6%

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