Eagle Materials Inc · NYSE:EXP

Eagle Materials — Q4 2024 Earnings Presentation

17 slides from Eagle Materials's earnings presentation, May 21, 2024

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

    MAY 21, 2024 Fiscal Year and Fourth Quarter 2024 Earnings Release and Conference Call

  2. Slide 2: Forward-Looking Statements

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

  3. Slide 3: Advances in Long-Term Sustainability

    Advances in Long-Term Sustainability Fiscal Year 2024 Sustainability Highlights  Safety performance continues to outpace the industry  Advanced portfolio transition to less carbon-intensive product: sales of Portland Limestone Cement and other blended cement products reached 75%  Reduced water co

  4. Slide 4: Fiscal Year 2024 Financial Highlights

    Fiscal Year 2024 Financial Highlights Third consecutive year of record results  Achieved record performance for the full year — Revenue up 5% to record $2.3 billion — Net Earnings up 3% to $477.6 million — Gross profit margin expanded 50 bps to 30.3% — Diluted EPS up 9% to record $13.61  Generated

  5. Slide 5: Favorable Business Conditions

    Favorable Business Conditions Underlying economic fundamentals support both sectors  Strong demand outlook — Federal infrastructure spending expected to increase through 2025, adding to already healthy state and local funding Cement — High levels of manufacturing construction offsetting slightly we

  6. Slide 6: Fiscal Year 2024 Strategic Highlights

    Fiscal Year 2024 Strategic Highlights Strong progress on all strategic initiatives  Completed acquisitions, integration of complementary operations — Acquired Stockton cement terminal — Took full ownership of Battletown, KY aggregates business  Initiated organic growth projects — New Houston slag-

  7. Slide 7: Record Annual and Q4 Revenue

    Record Annual and Q4 Revenue Revenue In millions $2,259 5% ANNUAL INCREASE $2,148 +5% REFLECTS:  Higher Cement prices $477 $470  Acquired cement import terminal 2023 2024 2023 2024 FISCAL YEAR FISCAL Q4 7

  8. Slide 8: Record Annual EPS Up 9%

    Record Annual EPS Up 9% Diluted EPS $13.61 $12.46 ANNUAL INCREASE REFLECTS:  Cement and Paperboard $2.79 margin expansion  Reduced share count due to $2.24 share buybacks 2023 2024 2023 2024 FISCAL YEAR FISCAL Q4 8

  9. Slide 9: Heavy Materials Annual Results Driven by Continued Strong Pricing Momentum

    Heavy Materials Annual Results Driven by Continued Strong Pricing Momentum Revenue* Operating Earnings In millions In millions $1,466 $351 $1,314 FISCAL 2024 CEMENT  Net sales prices +12% $297  Sales volume +2% FY2023 FY2024 FY2023 FY2024 * Includes Cement, Concrete and Aggregates and Cement Inter

  10. Slide 10: Light Materials Annual Results Reflect Lower Wallboard Sales Volume

    Light Materials Annual Results Reflect Lower Wallboard Sales Volume Revenue Operating Earnings In millions In millions $981 $941 FISCAL 2024 WALLBOARD  Sales volume -3% $378 $366  Net sales prices up slightly FY2023 FY2024 FY2023 FY2024 10

  11. Slide 11: Continued Strong Cash Flow Generation

    Continued Strong Cash Flow Generation $564 million of cash flow from operations, up 4% Fiscal Year ended March 31 in millions 2023 2024 Operating Cash Flow1 $542 $564 +4% Capex, net (110) (120) Free Cash Flow $432 $444 Acquisitions (158) (55) Dividends Paid (38) (35) Share Repurchases (388) (343) Ch

  12. Slide 12: Capital Structure Provides Significant Financial Flexibility

    Capital Structure Provides Significant Financial Flexibility Net Debt-to-Cap Net Debt to Adjusted EBITDA1 48% 45% 1.4x 1.3x 3.31.23 3.31.24 3.31.23 3.31.24 1 Net Debt to Adjusted EBITDA and Adjusted EBITDA are non-GAAP financial measures and are described in the Appendix. 12

  13. Slide 13: Question & Answer

    E Eagle Materials Question & Answer

  14. Slide 14: 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.

  15. Slide 15: Appendix

    E Eagle Materials Appendix

  16. Slide 16: Reconciliation of EBITDA and Adjusted EBITDA

    Reconciliation of EBITDA and Adjusted EBITDA We present Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) and Fiscal Year ended Fiscal Year ended Adjusted EBITDA to provide additional measures of March 31, 2023 March 31, 2024 operating performance and allow for more consistent

  17. Slide 17: Reconciliation of Net Debt to Adjusted EBITDA

    Reconciliation of Net Debt to Adjusted EBITDA As of As of GAAP does not define “Net Debt” and it should not be considered as an alternative to debt as defined by March 31, 2023 March 31, 2024 GAAP. We define Net Debt as total debt minus cash and cash equivalents to indicate the amount of total In mi

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