Eagle Materials Inc. reported financial results for the second quarter of fiscal 2016 ended Sept. 30, 2015. The quarter included quarterly revenues of $329.0 million, up 16 percent, compared to the prior-year period, as well as record cement earnings of $48.6 million, up 26 percent.
Eagle’s construction products and building materials businesses continued to perform exceptionally well during the second quarter, with the cement and paperboard businesses reporting record quarterly operating earnings and wallboard and concrete and aggregates businesses reporting year-over-year improvements. Demand for building materials and construction products remains strong in each of the company’s regional markets.
Operating earnings from cement for the second quarter were a record $48.6 million, and 26 percent higher than the same quarter a year ago. The earnings increase was driven primarily by an 8 percent increase in average net cement sales prices and record quarterly cement sales volumes.
Cement revenues for the second quarter, including joint venture and intersegment revenues, totaled $164.8 million, 13 percent greater than the same quarter last year. The average net cement sales price for the quarter was $97.21 per ton, 8 percent higher than the same quarter last year. Cement sales volumes were a quarterly record of 1.5 million tons, 1 percent higher than the same quarter a year ago.