Capacity ExpansionEXP announced it's modernizing its Laramie, WY, cement facility with a $430 mil investment, which will increase capacity and reduce its production costs.
Infrastructure DemandUnderlying demand for cement remains strong, with EXP seeing good strength in infrastructure (~50% of demand) & should be a multi-year tailwind.
Share RepurchaseShare repurchases have been a meaningful part of the capital allocation story, with EXP buying back ~30% of its shares outstanding since F4Q18 for ~$1.9 bil.