Eagle Materials Inc · NYSE:EXP
Eagle Materials — Q1 FY2006 Earnings Presentation
16 slides from Eagle Materials's earnings presentation, Aug 2, 2005
Slide 1: First Quarter Fiscal Year 2006 Earnings Release and Conference Call
Eagle Materials Inc. First Quarter Fiscal Year 2006 Earnings Release and Conference Call August 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) First Quarter 2005 2006 Revenues $150.3 $204.8 36% Operating Earnings $38.0 $54.6 44% Earnings Per Share Basic $1.25 $1.93 54% Diluted $1.23 $1.91 * 55% * Includes $0.03 per share impact of early adoption of FAS123R – Share Based Payments.
Slide 4: Cash Flow Information
Eagle Materials Cash Flow Information ($ Millions) First Quarter FY 2005 FY 2006 Operating Cash Flow* $35.4 $54.9 +55% Capex, net (5.1) (16.2) +218% Free Cash Flow $30.3 $38.7 Dividends Paid (5.6) (5.5) Purchase of Common Stock (15.5) (36.5) +135% (Repayment of) Addition to Debt (8.4) 9.6 Other 0.7
Slide 5: Debt vs. Capitalization
Eagle Materials Debt vs. Capitalization ($ Millions) Ratio 15% 16% 600 500 $485 $482 400 300 200 $85 $94 100 0 3/31/05 6/30/05 Debt Equity -Purchased approximately 415,000 shares of Eagle Materials in the 1st quarter of Fiscal 2006. 5
Slide 6: Industry Highlights
Eagle Materials Industry Highlights Construction - YTD total value of construction put in place is up approximately 7% through May - Mortgage rates remain near 6% Wallboard - Shipments for the first half of calendar 2005 up 4% to a record 17.8 bsf. - Price increases continue to be implemented - June
Slide 7: Wallboard Revenues
Wallboard Revenues ($ Millions) 110 $104.8 $82.3 55 27% + 0 Q1 2005 Q1 2006 7
Slide 8: Wallboard Operating Earnings
Wallboard Operating Earnings ($ Millions) 30 $27.9 $17.0 15 4 % + 6 0 Q1 2005 Q1 2006 8
Slide 9: Wallboard Quarterly Net Sales Price Trend
Wallboard Quarterly Net Sales Price Trend $/MSF $120 $119 $115 $110 $109 $110 $101 $100 $95 $90 $86 $80 $70 12/31/03 3/31/04 6/30/04 9/30/04 12/31/04 3/31/05 6/30/05 9
Slide 10: Cement Revenues
Cement Revenues ($ Millions)* 80 $75.8 $56.5 40 4 % + 3 0 Q1 2005 Q1 2006 * Proportionately includes interest in 50/50 Joint Ventures. 10
Slide 11: Cement Operating Earnings
Cement Operating Earnings ($ Millions)* 20 $16.0 $13.0 10 3% +2 0 Q1 2005 Q1 2006 * Proportionately includes interest in 50/50 Joint Ventures. 11
Slide 12: Paperboard Results
Paperboard Results ($ Millions) First Quarter 2005 2006 Sales Volume (Tons) 70,000 73,000 +4% Revenues (including intersegment) $31.8 $34.0 +7% Operating Earnings $6.7 $6.2 -8% 12
Slide 13: Concrete and Aggregates Results
Concrete and Aggregates Results ($ Millions) First Quarter 2005 2006 Sales Volume: Concrete (cubic yards) 188,000 233,000 +24% Aggregates (tons) 1,211,000 1,572,000 +30% Revenues (including intersegment) $17.2 $22.9 +32% Operating Earnings $2.1 $3.5 +62% 13
Slide 14: Guidance
Guidance Earnings per Diluted Share: FY 2006E FY 2005 2Q – 9/30 $2.10 $2.30 $1.62 Fiscal Year $7.30 $7.60 $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