Eagle Materials saw its net earnings drop 12% from a year ago to $45.8 million in Q3 of fiscal 2016 (ended 31 December 2015).
Its net earnings for each diluted share fell by 11% to $0.92 while revenue decreased by 5% to $277.4 million. Operations’ cash flow increased by 66% to $108.7 million.
Moreover, earnings from its cement business rose by 11% to USD 41.8 million. Cement sales grew by 1% to 1.2 million tons and revenue expanded by 9% to $135.4 million. Also, earnings for its aggregates and concrete division decreased by 7% to $1.5 million.
Meanwhile, revenue from Eagle Materials’ gypsum wallboard and paperboard unit dropped by 9% to $131.7 million.
Operating earnings declined by 8% to $45.2 million. Also, revenue from its oil and gas proppants business fell by 73% to $8.5 million.