US: Eagle Materials has blamed falling sales from its Heavy Materials sector, including cement, concrete and aggregates, on ‘unusually’ wet weather. Its revenue from this market fell by 1% year-on-year to US$677m in the year to 31 March 2019 from US$685m in the same period in 2018. Cement sales volumes dropped slightly to 5.34Mt and concrete volumes by 12.5% to 0.8Mm3. Its operating earnings decreased by 10% to US$177m. Overall, the company’s sales and earnings grew slightly boosted by sales from its gypsum division.
Eagle Materials blames slipping heavy materials sales on the weather
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