Eagle Materials Files 2024 10-K

TL;DR

Eagle Materials filed its 2024 10-K, covering performance through March 31, 2024. Check financials for Cement, Aggregates, and Gypsum.

AI Summary

Eagle Materials Inc. filed its 10-K for the fiscal year ending March 31, 2024, reporting on its performance across its Cement, Concrete & Aggregates, and Gypsum Wallboard segments. The company's fiscal year concluded on March 31, 2024, with the filing submitted on May 22, 2024. Key financial data and operational details for the periods ending March 31, 2024, and prior years are included.

Why It Matters

This filing provides investors and analysts with a comprehensive overview of Eagle Materials' financial health, operational performance, and strategic direction for the fiscal year 2024.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks.

Key Numbers

• FY 2024 — Fiscal Year End (The reporting period for the 10-K filing.)
• 0331 — Fiscal Year End Month/Day (Indicates the end of the company's fiscal year.)
• 20240522 — Filing Date (The date the 10-K was officially submitted to the SEC.)
• 20240331 — Period of Report (The end date of the reporting period covered by the 10-K.)

Key Players & Entities

• EAGLE MATERIALS INC (company) — Filer of the 10-K
• 20240331 (date) — Fiscal year end date
• 20240522 (date) — Filing date
• DALLAS (location) — Company headquarters city
• CENTEX CONSTRUCTION PRODUCTS INC (company) — Former company name

FAQ

Key Financial Figures

• $2.4 billion — ce 2012, we have invested approximately $2.4 billion to expand the Heavy Materials sector. T
• $912.9 million — n the past five years, we have invested $912.9 million in acquisitions, $485.9 million in orga
• $485.9 million — nvested $912.9 million in acquisitions, $485.9 million in organic capital expenditures, and ap
• $1.8 billion — capital expenditures, and approximately $1.8 billion in share repurchases and dividends. Sin
• $3.6 billion — 51%, and we have returned approximately $3.6 billion to our shareholders through a combinati
• $2.3 b — 3 include: Achieved record Revenue of $2.3 billion, up 5%. Increased Net Earnings
• $477.6 million — p 5%. Increased Net Earnings by 3% to $477.6 million. Expanded gross profit margin by 50 b
• $13.61 — sed diluted earnings per share by 9% to $13.61. Repurchased approximately 1.9 millio
• $343.3 million — ely 1.9 million shares of our stock for $343.3 million. Strategic Highlights During fiscal
• $430.0 million — yoming We are investing approximately $430.0 million to modernize and expand our Mountain Ce

Filing Documents

• exp-20240331.htm (10-K) — 4314KB
• exp-ex19_1.htm (EX-19.1) — 77KB
• exp-ex21.htm (EX-21) — 64KB
• exp-ex23_1.htm (EX-23.1) — 8KB
• exp-ex31_1.htm (EX-31.1) — 14KB
• exp-ex31_2.htm (EX-31.2) — 14KB
• exp-ex32_1.htm (EX-32.1) — 8KB
• exp-ex32_2.htm (EX-32.2) — 8KB
• exp-ex95.htm (EX-95) — 80KB
• exp-ex97_1.htm (EX-97.1) — 41KB
• img31364689_0.jpg (GRAPHIC) — 63KB
• img31364689_1.jpg (GRAPHIC) — 97KB
• img31364689_2.jpg (GRAPHIC) — 157KB
• img31364689_3.jpg (GRAPHIC) — 222KB
• img52899888_0.jpg (GRAPHIC) — 5KB
• img140779686_0.jpg (GRAPHIC) — 5KB
• 0000950170-24-063523.txt ( ) — 18890KB
• exp-20240331.xsd (EX-101.SCH) — 1907KB
• exp-20240331_htm.xml (XML) — 4008KB

Business

Business 1 Overview 1 Fiscal 2024 Highlights 4 Human Capital 5 Industry Segment Information 6 Where You Can Find More Information 25 Item 1A.

Risk Factors

Risk Factors 26 Item 1B. Unresolved Staff Comments 41 Item 1C. Cybersecurity 41 Item 2.

Properties

Properties 43 Item 3.

Legal Proceedings

Legal Proceedings 44 Item 4. Mine Safety Disclosures 44 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 45 Item 6.

Selected Financial Data

Selected Financial Data 47 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 47 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 63 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 64 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 99 Item 9A.

Controls and Procedures

Controls and Procedures 99 Item 9B. Other Information 101 Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 101 PART III Item 10. Directors, Executive Officers and Corporate Governance 102 Item 11.

Executive Compensation

Executive Compensation 102 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 103 Item 13. Certain Relationships and Related Transactions, and Director Independence 103 Item 14. Principal Accounting Fees and Services 103 PART IV Item 15. Exhibits and Financial Statement Schedules 103 INDEX TO EXHIBITS 104 Item 16. Form 10-K Summary 109

SIGNATURES

SIGNATURES 110 P ART I I TEM 1. Business O verview Eagle Materials Inc., through its subsidiaries (the Company, which may be referred to as we, our, or us), is a leading manufacturer of heavy construction materials and light building materials in the United States. Our primary products, portland cement and gypsum wallboard, are commodities that are essential in commercial and residential construction; public construction projects to build, expand, and repair roads and highways; and repair and remodel activities. Demand for our products is generally cyclical and seasonal, depending on economic and geographic conditions. We distribute our products throughout most of the United States, except the Northeast, which provides us with regional economic diversification. The Company was founded in 1963 as a building materials subsidiary of Centex Corporation (Centex). It operated as a public company under the name Centex Construction Products, Inc. from April 19, 1994, to January 30, 2004, at which time Centex completed a tax-free distribution of its shares to its shareholders, and the Company was renamed Eagle Materials Inc. (NYSE: EXP). Competitive Strengths We benefit from several competitive strengths that have enabled us to deliver consistently strong operating results and profitable growth. Strategically located plant network O ur plants are located near both our raw material reserves and customers in high-growth U.S. markets. The proximity to raw materials and customers lowers our transportation costs and carbon footprint. The location of our plants across several high-growth regions within the United States provides geographic diversification, reducing our exposure to individual regional construction cycles, and enabling us to move product between different plants in our network as needed. The integrated nature of our plant network enables us to supply customers from more than one plant when desirable. Low-cost producer position Our modern prod

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View this 10-K filing on SEC EDGAR