Eagle Materials Inc · NYSE:EXP
Eagle Materials — Q2 FY2006 Earnings Presentation
16 slides from Eagle Materials's earnings presentation, Nov 2, 2005
Slide 1: Second Quarter Fiscal Year 2006 Earnings Release and Conference Call
Eagle Materials Inc. Second Quarter Fiscal Year 2006 Earnings Release and Conference Call November 2, 2005 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified
Slide 3: Eagle Materials Results
Eagle Materials Results ($ millions, except per share data) Second Quarter Six Months 2005 2006 2005 2006 Revenues $163.1 $221.8 +36% $313.4 $426.6 +36% Operating Earnings $49.6 $71.2 +44% $87.6 $125.8 +44% Earnings Per Share Basic $1.64 $2.44 * +49% $2.88 $4.36 +51% Diluted $1.62 $2.41 * +49% $2.85
Slide 4: Cash Flow Information
Eagle Materials Cash Flow Information ($ Millions) Six Months FY 2005 FY 2006 Operating Cash Flow* $86.1 $90.7 Capex, net (9.6) (39.6) Free Cash Flow $76.5 $51.1 Dividends Paid (11.2) (10.9) Purchase of Common Stock (31.2) (46.5) (Repayment of) Addition to Debt (33.0) 8.4 Other 1.7 1.7 Increase in C
Slide 5: Debt vs. Capitalization
Eagle Materials Debt vs. Capitalization ($ Millions) Ratio 15% 15% 600 $485 $511 500 400 300 200 $85 $93 100 0 3/31/05 9/30/05 Debt Equity -Purchased approximately 104,000 shares of Eagle Materials in the 2nd quarter of Fiscal 2006 and approximately 519,000 shares year-to-date. 5
Slide 6: Industry Highlights
Eagle Materials Industry Highlights Construction - YTD total value of construction put in place is up approximately 6% through August - Mortgage rates remain near 6% Wallboard - Shipments for the first nine months of calendar 2005 up 5.5% to a record 27.1 bsf. - Price increases continue to be implem
Slide 7: Wallboard Revenues
Wallboard Revenues ($ Millions) Second Quarter Six Months 250 250 $221.9 $174.1 125 $117.1 125 27% $91.8 + 2 8% + 0 0 2005 2006 2005 2006 7
Slide 8: Wallboard Operating Earnings
Wallboard Operating Earnings ($ Millions) Second Quarter Six Months 70 70 $64.9 $37.1 $39.9 35 35 $22.9 63% + 2 +6 0 0 2005 2006 2005 2006 8
Slide 9: Wallboard Quarterly Net Sales Price Trend
Wallboard Quarterly Net Sales Price Trend $132 $/MSF $119 $120 $115 $110 $109 $110 $101 $100 $95 $90 $86 $80 $70 03 04 04 04 04 05 05 05 1/ 1/ / / / / / / 31 30 30 31 30 30 /3 /3 3/ 3/ 6/ 9/ 6/ 9/ 12 12 9
Slide 10: Cement Revenues
Cement Revenues ($ Millions) Second Quarter Six Months 160 160 $153.9 $112.9 $78.1 80 80 36% + $56.4 3 8% + 0 0 2005 2006 2005 2006 - Includes intersegment and joint venture revenues. 10
Slide 11: Cement Operating Earnings
Cement Operating Earnings ($ Millions) Second Quarter Six Months 40 40 $38.7 $29.8 $22.6 20 20 30% $16.8 + 3 5% + 0 0 2005 2006 2005 2006 11
Slide 12: Paperboard Results
Paperboard Results ($ Millions) Second Quarter Six Months 2005 2006 2005 2006 Sales Volume (Tons) 70,000 69,000 -1% 140,000 142,000 +1% Revenues including $32.8 $33.4 +2% $64.6 $67.4 +4% intersegment Operating Earnings $7.2 $7.1 -2% $13.9 $13.3 -5% 12
Slide 13: Concrete and Aggregates Results
Concrete and Aggregates Results ($ Millions) Second Quarter Six Months 2005 2006 2005 2006 Sales Volume: Concrete (cubic yds) 229,000 240,000 +5% 417,000 473,000 +13% Aggregates (tons) 1,673,000 1,616,000 -3% 2,884,000 3,188,000 +11% Revenues including $21.3 $24.6 +15% $38.5 $47.4 +23% intersegment
Slide 14: Guidance
Guidance Earnings per Diluted Share: FY 2006E FY 2005 3Q – 12/31 $1.80 $2.00 $1.40 Fiscal Year $7.60 $7.90 $5.73 14
Slide 15: Question & Answer
Eagle Materials Inc. Question & Answer 15
Slide 16: Thank you for participating in today's conference call webcast
Eagle Materials Inc. Thank you for participating in today’s conference call webcast. An archive of this webcast will be available at http://www.eaglematerials.com later today. 16