Eagle Materials Inc. reported record revenue of $639 million for the second quarter of fiscal 2026, a 2 % year‑over‑year increase from $623.62 million in the same period a year earlier. Earnings per share were $4.23, and the company’s gross margin rose to 31.3 %. The company repurchased 395,500 shares for $89 million, underscoring its disciplined capital‑allocation policy.
Segment results showed heavy‑materials revenue of $466.5 million, up 11 % from the prior year, with operating earnings of $127.7 million. Light‑materials revenue fell 13 % to $212.6 million, with operating earnings down 20 % to $78.3 million. Cement sales volume increased 8 %, aggregates volume jumped 35 %, and wallboard volume declined 14 % as residential construction remained constrained by high mortgage rates.
Management explained that the earnings miss was largely due to lower wallboard sales volume, partially offset by a 4 % reduction in fully diluted shares from the share‑buyback program. Gross margin was maintained through pricing strategies and cost‑management initiatives. The company’s Laramie, Wyoming cement plant modernization is on schedule and within budget, and foundations for a new Duke, Oklahoma wallboard facility have begun.
Financially, Eagle Materials ended the quarter with $1.3 billion of debt and a net leverage ratio of 1.6×. Free cash flow remained strong. The company expects capital expenditures for fiscal year 2026 to be between $475 million and $500 million and announced price increases across most markets effective January 1, 2026.
Management indicated that continued investment in plant upgrades and strategic projects will support sustained growth, while infrastructure spending remains supportive. Residential construction headwinds are expected to persist, but the company remains confident in its ability to navigate the cyclical industry.
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