Eagle Materials Inc · NYSE:EXP

Eagle Materials — Q4 2023 Earnings Presentation

17 slides from Eagle Materials's earnings presentation, May 18, 2023

  1. Slide 1: Fiscal Year and Fourth Quarter 2023 Earnings Release and Conference Call

    MAY 18, 2023 Fiscal Year and Fourth Quarter 2023 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 2023 Financial Highlights

    Fiscal Year 2023 Financial Highlights Consistently strong performance despite economic uncertainty  Delivered record results for the full year — Revenue up 15% to record $2.1 billion — Net Earnings up 23% to $461.5 million — Diluted EPS up 36% to record $12.46 — Gross profit margin expanded 190 bps

  4. Slide 4: Fiscal Year 2023 Strategic Highlights

    Fiscal Year 2023 Strategic Highlights Continued progress on all strategic initiatives  Invested in strategic growth opportunities — Expanded footprint with an acquisition of aggregates-led business in northern Colorado — Improved Cement operating footprint and enhanced low-cost producer position wi

  5. Slide 5: Steady Progress on ESG Initiatives

    Steady Progress on ESG Initiatives  Comprehensive in-depth Environmental and Social Disclosure report released in February Fiscal Year 2023  Portland Limestone Cement made up >25% of Cement sales ESG Highlights for the full year, >30% by fiscal year end  Best safety performance in company history

  6. Slide 6: Favorable Business Conditions

    Favorable Business Conditions Underlying economic fundamentals support both sectors  Strong demand outlook — Federally funded multi-year infrastructure projects beginning — State DoT budgets running well above prior decade averages, with high allocations to fund Cement infrastructure; skewing favor

  7. Slide 7: Record Annual and Q4 Revenue

    Record Annual and Q4 Revenue Revenue In millions 15% ANNUAL INCREASE $2,148 REFLECTS: $1,862 +15%  Higher Cement prices $470  Record Wallboard sales volume and prices +14% $413 2022 2023 2022 2023 FISCAL YEAR FISCAL Q4 7

  8. Slide 8: Annual EPS Up 36%

    Annual EPS Up 36% Diluted EPS $12.46 36% ANNUAL INCREASE REFLECTS: +36% $9.14  Strong fundamentals $2.79 in both Cement and Wallboard +47% $1.90  Reduced share count 2022 2023 2022 2023 FISCAL YEAR FISCAL Q4 8

  9. Slide 9: Heavy Materials Annual Results Driven Primarily by Price Increases

    Heavy Materials Annual Results Driven Primarily by Price Increases Revenue* Operating Earnings In millions In millions $1,314 $1,184 FISCAL 2023 CEMENT  Net sales prices +13% $297  Sales volume -5% $278 FY2022 FY2023 FY2022 FY2023 * Includes Cement, Concrete and Aggregates and Cement Intersegment

  10. Slide 10: Light Materials Annual Results Driven by Higher Sales Volume and Prices

    Light Materials Annual Results Driven by Higher Sales Volume and Prices Revenue Operating Earnings In millions In millions $981 FISCAL 2023 WALLBOARD $804 $378  Sales volume +4%  Net sales prices +22% $274 FY2022 FY2023 FY2022 FY2023 10

  11. Slide 11: Strong Cash Flow Generation

    Strong Cash Flow Generation $542 million of cash flow from operations, up 5% Fiscal Year ended March 31 in millions 2022 2023 Operating Cash Flow1 $517 $542 Capex, net (74) (110) Free Cash Flow $443 $432 Acquisitions – (158) Dividends Paid (31) (38) Share Repurchases (590) (388) Change in Debt (71)

  12. Slide 12: Leverage Profile Provides Significant Financial Flexibility

    Leverage Profile Provides Significant Financial Flexibility Net Debt-to-Cap Net Debt to Adjusted EBITDA 48% 45% 1.4x 1.4x 3.31.22 3.31.23 3.31.22 3.31.23 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 more consistent March 31, 2022 March 31, 2023 comparison of operating performance from period to period.

  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 cash flow or March 31, 2022 March 31, 2023 liquidity measures defined by GAAP. We define Net Debt as total debt minus cash and cash equivalents In millions t

Eagle Materials — Q4 2023 Earnings Presentation on 6ix