Slide 1: Second Quarter Fiscal 2025 Earnings Release and Conference Call
October 29, 2024 Second Quarter Fiscal 2025 Earnings Release and Conference Call
Slide 2: Forward-Looking Statements
Forward-Looking Statements Forward-Looking Statements. This press release contains forward-looking statements or its customers are engaged; competition; cyber-attacks or data security breaches, within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the together with the cost
Slide 3: Fiscal Year 2025 Second Quarter Highlights
Fiscal Year 2025 Second Quarter Highlights Strong execution in a challenging environment Delivered solid financial results — Record revenue of $624 million — Gross profit margin of 32.7% — Adjusted EPS of $4.31, up 1% Increased operating cash flow 35% to $233 million Advanced long-term growth
Slide 4: Constructive Macroeconomic Environment, Favorable Medium-to-Long-Term Demand Outlook
Constructive Macroeconomic Environment, Favorable Medium-to-Long-Term Demand Outlook Favorable market conditions for construction materials support pricing and demand State and Federal infrastructure spending should remain healthy 75% of IIJA funds remaining to be spent, pointing to multiple yea
Slide 5: Record Revenue Up Slightly
Record Revenue Up Slightly Revenue $700 In millions $650 $622 $624 $600 INCREASE DRIVEN BY: Higher Cement sales prices $550 Higher Wallboard sales prices $500 and volume $450 $400 $350 2024 2025 FISCAL Q2 5
Slide 6: EPS of $4.26
EPS of $4.26 Diluted EPS $5 $5 $4.26 $4.26 $4 $4 SECOND QUARTER REFLECTS: $3 Lower net earnings $3 Reduced share count due to $2 share buybacks $2 $1 $1 $0 2024 2025 FISCAL Q2 6
Slide 7: Heavy Materials Second Quarter Results Reflect Continued Pricing Momentum
Heavy Materials Second Quarter Results Reflect Continued Pricing Momentum Revenue1 Operating Earnings In millions In millions $427 $419 $126 SECOND QUARTER CEMENT $115 Net sales prices +3% Sales volume -5% FY2024 FY2025 FY2024 FY2025 SECOND QUARTER SECOND QUARTER 1 Includes Cement, Concrete and
Slide 8: Light Materials Second Quarter Results Driven By Higher Wallboard Sales Volume and Prices
Light Materials Second Quarter Results Driven By Higher Wallboard Sales Volume and Prices Revenue Operating Earnings In millions In millions $244 $234 SECOND QUARTER WALLBOARD $98 Net sales prices up 1% $93 Sales volume up 3% FY2024 FY2025 FY2024 FY2025 SECOND QUARTER SECOND QUARTER 8
Slide 9: Continued Strong Cash Flow Generation
Continued Strong Cash Flow Generation $233 million of cash flow from operations Three months ended September 30 In millions 2023 2024 Operating Cash Flow1 $172 $233 +35% Capex, net (29) (66) Free Cash Flow $143 $167 Acquisition Spending - (25) Dividends Paid (9) (8) Share Repurchases (77) (61) Chang
Slide 10: Strong Capital Structure Further Enhances Financial Flexibility
Strong Capital Structure Further Enhances Financial Flexibility Net Debt-to-Cap Net Debt to Adjusted EBITDA 1 1.3x 1.2x 45% 41% 3.31.24 9.30.24 3.31.24 9.30.24 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-G
Slide 11: Question & Answer
E Eagle Materials Question & Answer
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.
Slide 13: Appendix
E Eagle Materials Appendix
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, 2024 September 30, 2024 Depreciation and Amortization (EBITDA) and Adjusted EBITDA to provide additional measures of In millions operating performance and allow for more consisten
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 debt as defined by March 31, 2024 September 30, 2024 GAAP. We define Net Debt as total debt minus cash and cash equivalents to indicate the amount of total d