Eagle Materials reports Q3 adjusted EPS $3.59, consensus $3.96

Reports Q3 revenue $558.0M, consensus $575.41M. Commenting on the Q3 results, Michael Haack, President and CEO, said, “Eagle’s portfolio of businesses continued to perform well despite ongoing adverse weather in our Midwest and Great Plains markets, where rainfall in November was 250% higher than normal. The excessive rainfall affected sales volume in our Cement and Concrete and Aggregates businesses, although we achieved higher sales volume in Gypsum Wallboard and Recycled Paperboard. On a company-wide basis, we generated revenue of $558M and achieved a gross profit margin of 31.9%. We also continued advancing our long-term growth and value-creation strategies: during the quarter, we announced the acquisition of Bullskin Stone and Lime, a pure-play aggregates business in Western Pennsylvania; returned $63M of cash to shareholders through share repurchases and dividends; and maintained our balance sheet strength, ending the quarter with debt of $1.0B and a net leverage ratio of 1.2x.”