Eagle Materials (NYSE: EXP) stock plummeted 5.48% in pre-market trading on Thursday following the release of its second-quarter fiscal 2026 earnings report. The construction materials company posted mixed results, with earnings per share falling short of analyst expectations.
Eagle Materials reported earnings per share (EPS) of $4.23, missing the consensus estimate of $4.35. This represents a 1.86% decrease from the $4.31 per share reported in the same quarter last year. While the company's revenue of $638.9 million slightly beat analyst estimates of $634.96 million, growing 2.45% year-over-year, investors seemed to focus on the earnings miss and challenges in certain segments.
The company's performance was weighed down by weakness in its Light Materials segment, where wallboard sales volume decreased by 14% due to constrained new residential construction activity. Additionally, net cement sales prices in the Heavy Materials segment declined by 1%, despite an 8% increase in cement sales volume. These factors, combined with the earnings miss, appear to have disappointed investors, leading to the sharp pre-market decline in Eagle Materials' stock price.
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