Eagle Materials Q4 Profit Slips, Misses View
(RTTNews) - Eagle Materials Inc. (EXP) Tuesday announced a decline in fourth quarter earnings, while revenues were slightly higher than the prior year. Both topline and bottomline were below analysts' view.
The quarterly earnings for the manufacturer of heavy construction products and light building materials were $77.09 million or $2.24 per share compared to $100.36 million or $2.79 per share last year.
On average, 11 analysts polled by Thomson Reuters expected the company to earn $2.69 per share. Analysts estimates usually exclude special items.
Revenue for the period increased to $476.71 million from $470.13 million a year ago. Wall Street expected $484.69 million.
The company said: "the fourth quarter both Cement and Concrete and Aggregates results were affected by adverse weather conditions and Cement results by increased maintenance costs."
