Eagle Materials notes record cement sales in 1Q

US-based Eagle Materials Inc has reported a six per cent YoY fall in revenue to US$370.5m for the quarter ending 30 June 2019. 

However, revenue in the Heavy Materials (cement, concrete and aggregates) segment saw a three per cent improvement to US$234.7m. Operating earnings decreased five per cent to US$40.6m, which has been attributed to increased fixed and freight costs alongside poor weather.

“Our cement sales volume was up three per cent to a record 1.6Mt in the first quarter despite challenging weather conditions and was considerably stronger during periods when the weather was favourable,” said Michael Hack, president and CEO.