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News Eagle Materials increases first-half sales, earnings and cement shipments

Eagle Materials increases first-half sales, earnings and cement shipments

Written by Global Cement staff 02 November 2020
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US: Eagle Materials recorded sales of US$875m in the six months between 1 April 2020 and 30 September 2020, the first half of its 2020 financial year, up by 16% year-on-year from US$756m in the first half of the 2019 financial year. Net earnings were US$192m, up by 70% from US$113m. Total cement shipments rose by 28% to 4.27Mt from 3.33Mt.

President and chief executive officer (CEO) Michael Haack said, “We are pleased to have delivered another quarter of record revenue and net earnings growth while further strengthening our balance sheet. Our end markets remain resilient as Covid-19-related uncertainty persists: the housing market continued its strong rebound, cement demand remained robust, despite wet weather in the first half of September.” He added that the company shipped a record 2.2Mt of cement during the quarter.

Last modified on 04 November 2020
Published in Global Cement News
Tagged under
  • US
  • Eagle Materials
  • Results
  • coronavirus
  • GCW480

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