Displaying items by tag: Texas Lehigh Cement Company

US: Eagle Materials Inc has reported financial results for fiscal year 2014, which ended on 31 March 2014. Company revenues were up by 40% year-on-year to US$898.4m and net earnings grew by 50% year-on-year to US$200m, reflecting improved sales volumes and stronger sales prices across all business lines. Annual revenue and earnings improvement also reflects the acquisition of assets, including cement plants in Missouri and Oklahoma on 30 November 2012.

Fiscal 2014 operating earnings from cement were up by 94% year-on-year to US$89.5m, while revenues from cement, including joint venture (the Texas Lehigh Cement Company LP) and intersegment sales, grew by 44% year-on-year to US$438.2m. Cement sales volumes reached a record 4.6Mt for the year.

Operating earnings from cement during the fourth quarter of fiscal 2014 were up by 422% year-on-year to US$12.0m. The earnings were impacted by US$4.5m associated with the annual maintenance outage at the Illinois cement plant, whereas 2013's fourth quarter cement earnings were impacted by US$14m, associated with maintenance costs at the recently acquired cement plants cement plants in Missouri and Oklahoma. Cement revenues for the quarter, including joint venture and intersegment revenues, grew by 10% year-on-year to US$81.7m. Cement sales volumes for the fourth quarter were up by 4% year-on-year at 803,000t.