Eagle Materials Inc. Files Q1 2024 10-Q

TL;DR

Eagle Materials Q1 2025 10-Q is in. Check segment performance for Gypsum Wallboard & Concrete.

AI Summary

Eagle Materials Inc. reported its first quarter results for the period ending June 30, 2024. The company's filing indicates financial activities and segment reporting, including details on its Gypsum Wallboard and Concrete & Aggregates segments for both the current and prior year periods. Specific financial figures and segment performance data are detailed within the report.

Why It Matters

This 10-Q filing provides investors with an update on Eagle Materials' financial performance and operational segments for the first quarter of fiscal year 2025, offering insights into the company's current business health.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing financial updates and does not contain significant new risks.

Key Numbers

• Q1 2025 — Fiscal Quarter (Reporting period ending June 30, 2024)
• 2023-04-01 to 2023-06-30 — Prior Year Period (Comparison period for segment reporting)
• 2024-04-01 to 2024-06-30 — Current Year Period (Reporting period for segment reporting)

Key Players & Entities

• EAGLE MATERIALS INC (company) — Filer
• 20240630 (date) — Conformed Period of Report
• 20240730 (date) — Filed as of Date
• DALLAS (location) — Business Address City
• 214-432-2000 (phone_number) — Business Phone
• Gypsum Wallboard (business_segment) — Operating Segment
• Concrete & Aggregates (business_segment) — Operating Segment

FAQ

Filing Documents

• exp-20240630.htm (10-Q) — 1844KB
• exp-ex10_1.htm (EX-10.1) — 97KB
• exp-ex10_2.htm (EX-10.2) — 121KB
• exp-ex10_3.htm (EX-10.3) — 40KB
• exp-ex10_4.htm (EX-10.4) — 39KB
• exp-ex10_5.htm (EX-10.5) — 709KB
• exp-ex31_1.htm (EX-31.1) — 12KB
• exp-ex31_2.htm (EX-31.2) — 12KB
• exp-ex32_1.htm (EX-32.1) — 7KB
• exp-ex32_2.htm (EX-32.2) — 7KB
• exp-ex95.htm (EX-95) — 86KB
• img31367571_0.jpg (GRAPHIC) — 8KB
• img122124523_0.jpg (GRAPHIC) — 77KB
• 0000950170-24-087945.txt ( ) — 9542KB
• exp-20240630.xsd (EX-101.SCH) — 1058KB
• exp-20240630_htm.xml (XML) — 1581KB

FINANCIAL INFORMATION (unaudited)

PART I. FINANCIAL INFORMATION (unaudited) Page Item 1. Consolidated Financial Statements Consolidated Statements of Earnings for the Three Months Ended June 30, 2024 and 2023 1 Consolidated Statements of Comprehensive Earnings for the Three Months Ended June 30, 2024 and 2023 2 Consolidated Balance Sheets as of June 30, 2024, and March 31, 2024 3 Consolidated Statements of Cash Flows for the Three Months Ended June 30, 2024 and 2023 4 Consolidated Statements of Stockholders' Equity for the Three Months Ended June 30, 2024 and 20 23 5 Notes to Unaudited Consolidated Financial Statements 6 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 31 Item 4.

Controls and Procedures

Controls and Procedures 31

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 32 Item 1a.

Risk Factors

Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 Item 4. Mine Safety Information 33 Item 5. Other Information 33 Item 6. Exhibits 34

SIGNATURES

SIGNATURES 35 EAGLE MATERIALS INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (unaudited) For the Three Months Ended June 30, 2024 2023 (dollars in thousands, except share and per share data) Revenue $ 608,689 $ 601,521 Cost of Goods Sold 421,821 425,526 Gross Profit 186,868 175,995 Equity in Earnings of Unconsolidated Joint Venture 7,716 3,159 Corporate General and Administrative Expense ( 15,649 ) ( 11,679 ) Other Non-Operating Income (Expense) 2,683 213 Interest Expense, net ( 10,684 ) ( 12,239 ) Earnings before Income Taxes 170,934 155,449 Income Taxes ( 37,092 ) ( 34,600 ) Net Earnings $ 133,842 $ 120,849 EARNINGS PER SHARE Basic $ 3.97 $ 3.43 Diluted 3.94 3.40 AVERAGE SHARES OUTSTANDING Basic 33,734,280 35,274,753 Diluted 33,993,023 35,532,284 CASH DIVIDENDS PER SHARE $ 0.25 $ 0.25 See Notes to Unaudited Consolidated Financial Statements. 1 EAGLE MATERIALS INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (unaudited) For the Three Months Ended June 30, 2024 2023 (dollars in thousands) Net Earnings $ 133,842 $ 120,849 Net Actuarial Change in Defined Benefit Plans Amortization of Net Actuarial Loss 60 63 Tax Expense ( 15 ) ( 15 ) Comprehensive Earnings $ 133,887 $ 120,897 See Notes to Unaudited Consolidated Financial Statements. 2 EAGLE MATERIALS INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (unaudited) June 30, March 31, 2024 2024 (dollars in thousands) ASSETS Current Assets Cash and Cash Equivalents $ 46,540 $ 34,925 Accounts and Notes Receivable, net 278,428 202,985 Inventories 371,619 373,923 Income Tax Receivable 2,605 9,910 Prepaid and Other Assets 13,797 5,950 Total Current Assets 712,989 627,693 Property, Plant, and Equipment, net 1,676,041 1,676,217 Investment in Joint

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View this 10-Q filing on SEC EDGAR