Eagle Materials reports a 5% revenue increase

US-based Eagle Materials has reported a five per cent YoY increase in revenue to US$350.2m for the quarter ending 31 December 2019. However, the company posted a net loss of US$114.6m, compared to a profit of US$57.7m in the year-ago period. Adjusted EBITDA advanced six per cent to US$118.7m in the 3QFY19-20.

"We are pleased that during the third quarter of fiscal 2020 we capitalised on robust underlying demand across our geographic footprint to achieve a five per cent revenue improvement. Notably, our cement sales volume was up seven per cent to a record 1.4Mt," said Michael Haack, president and CEO.

Cement revenue, including joint venture and intersegment revenue, increased 12 per cent YoY to US$183m in the December quarter, reflecting improved net sales prices and sales volume. The average net sales price advanced two per cent to US$110.09/t. Operating earnings from the segment climbed 15 per cent to US$54.2m, on the back of higher sales volume and net sales prices.