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Eagle Materials reports cement earnings up by 11% to US$41.8m in Q3

Eagle Materials has reported that its earnings from its cement business rose by 11% year-on-year to US$41.8m in the third quarter of 2015. The earnings increase was attributed to a 4% increase in average net cement sales prices and record quarterly cement sales volumes.

Cement revenues for the third quarter rose by 9% to US$97.1m. Cement sales reached 1.2Mt, a rise of 1% year-on-year. Eagle also reported that its cement businesses in Texas and Oklahoma was impacted by heavy rains in October and December 2015 which resulted in lower sales volumes in both of those markets. Additionally, in Texas, increased demand for construction grade cement continues to offset much of the impact from lower oil well cement demand.

Source: global cement