Stock Track | Eagle Materials Plummets 5.13% Intraday as Q1 Earnings Miss Estimates, Profit Falls 17%

Stock Track07-30

Eagle Materials (EXP) shares tumbled 5.13% during intraday trading on Wednesday after the construction materials company reported fiscal first-quarter results that fell short of Wall Street expectations.

The company posted earnings per share of $3.29, missing analyst consensus estimates of $3.36 to $3.43 per share. Net earnings declined 17% year-over-year to $102.1 million, while gross profit slipped 13% to $161.25 million. Although revenue rose 3% to $651 million and beat the $619.9 million consensus estimate, the bottom-line miss weighed heavily on investor sentiment.

Adding to the pressure, the company disclosed an approximately $6 million earnings impact from an unexpected equipment failure at its Mountain Cement Facility during the quarter. Both the Heavy Materials and Light Materials segments saw operating earnings decline, falling 11% and 15% respectively, as adjusted EBITDA decreased 11% to $190.5 million.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment