Eagle Materials Inc · NYSE:EXP

Eagle Materials — Q2 2024 Earnings Presentation

15 slides from Eagle Materials's earnings presentation, Oct 26, 2023

  1. Slide 1: Second Quarter Fiscal 2024 Earnings Release and Conference Call

    October 26, 2023 Second Quarter Fiscal 2024 Earnings Release and Conference Call

  2. Slide 2: Forward-Looking Statements

    Forward-Looking Statements Forward-Looking Statements. This presentation contains forward-looking statements hurricanes) and their effects on our facilities, operations and contractual arrangements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the with third parties

  3. Slide 3: Fiscal Year 2024 Second Quarter Highlights

    Fiscal Year 2024 Second Quarter Highlights Strong first half of year; well-positioned for second half  Delivered another consecutive quarter of record results — Revenue up 3% to record $622 million — Gross profit margin increased 150 bps to 33.6% — Adjusted EPS up 14% to $4.28  Made progress on st

  4. Slide 4: Eagle Positioned to Capitalize on Strong Demand and Supply Constraints in Both Sectors

    Eagle Positioned to Capitalize on Strong Demand and Supply Constraints in Both Sectors Resilient market for construction materials despite high interest rates  Robust federal, state, and local spending on infrastructure — Public highway and infrastructure awards in states Eagle serves outpace natio

  5. Slide 5: Record Revenue Up 3%

    Record Revenue Up 3% Revenue $700 In millions $650 $622 $605 $600 +3% INCREASE DRIVEN BY:  Higher Cement sales prices $550  Recently acquired cement $500 import terminal $450 $400 $350 2023 2024 FISCAL Q2 5

  6. Slide 6: Record EPS Up 15%

    Record EPS Up 15% Diluted EPS $5 $5 $4.26 $4 $3.72 +15% INCREASE REFLECTS: $4  Margin expansion across major $3 business lines $3  Reduced share count due to $2 share buybacks $2 $1 $1 $0 2023 2024 FISCAL Q2 6

  7. Slide 7: Heavy Materials Second Quarter Results Driven By Continued Strong Pricing Momentum

    Heavy Materials Second Quarter Results Driven By Continued Strong Pricing Momentum Revenue1 Operating Earnings In millions In millions $427 $389 $126 SECOND QUARTER CEMENT $106  Net sales prices +15%  Sales volume -1% FY2023 FY2024 FY2023 FY2024 SECOND QUARTER SECOND QUARTER 1 Includes Cement, Con

  8. Slide 8: Light Materials Second Quarter Results Reflect Lower Wallboard Sales Volume

    Light Materials Second Quarter Results Reflect Lower Wallboard Sales Volume Revenue Operating Earnings In millions In millions SECOND QUARTER $253 WALLBOARD $234  Net sales prices flat  Sales volume down 6% $95 $93  Reduced operating costs partially offset impact of lower sales volume FY2023 FY20

  9. Slide 9: Continued Strong Cash Flow Generation

    Continued Strong Cash Flow Generation $313 million of cash flow from operations Six months ended September 30 in millions 2022 2023 Operating Cash Flow1 $300 $313 +4% Capex, net (43) (66) Free Cash Flow $257 $247 Acquisition Spending (159) (55) Dividends Paid (19) (18) Share Repurchases (210) (151)

  10. Slide 10: Capital Structure Provides Significant Financial Flexibility

    Capital Structure Provides Significant Financial Flexibility Net Debt-to-Cap Net Debt to Adjusted EBITDA1 48% 1.4x 1.3x 45% 3.31.23 9.30.23 3.31.23 9.30.23 1 “Net Debt to Adjusted EBITDA” is defined as Net Debt divided by Adjusted EBITDA. Net Debt to Adjusted EBITDA and Adjusted EBITDA are non-GAAP

  11. Slide 11: Question & Answer

    E Eagle Materials Question & Answer

  12. Slide 12: Thank you for participating in today's conference call web cast

    Thank you for participating in today’s conference call web cast. An archive of this web cast will be available at eaglematerials.com later today.

  13. Slide 13: Appendix

    E Eagle Materials Appendix

  14. Slide 14: Reconciliation of EBITDA and Adjusted EBITDA

    Reconciliation of EBITDA and Adjusted EBITDA Fiscal Year ended TTM We present Earnings Before Interest, Taxes, March 31, 2023 September 30, 2023 Depreciation and Amortization (EBITDA) and Adjusted EBITDA to provide additional measures of In millions operating performance and allow for more consisten

  15. Slide 15: Reconciliation of Net Debt to Adjusted EBITDA

    Reconciliation of Net Debt to Adjusted EBITDA GAAP does not define “Net Debt” and it should not As of As of be considered as an alternative to cash flow or March 31, 2023 September 30, 2023 liquidity measures defined by GAAP. We define Net Debt as total debt minus cash and cash equivalents to indica

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