Slide 1: First Quarter Fiscal 2026 Earnings Conference Call
July 29, 2025 First Quarter Fiscal 2026 Earnings Conference Call
Slide 2: Forward-Looking Statements
Forward-Looking Statements Forward-Looking Statements. This presentation contains forward-looking statements economic conditions or the nature or level of activity in any one or more of the markets or within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the industries in w
Slide 3: Fiscal Year 2026 First Quarter Highlights
Fiscal Year 2026 First Quarter Highlights Solid quarter despite challenging weather conditions Delivered solid financial results — Revenue up 4% to record $635 million — Gross profit margin of 29.2% — EPS of $3.76 Continued disciplined execution on strategic initiatives — Maintained industry-lea
Slide 4: Outlook Remains Favorable, With Stable Demand Fundamentals
Outlook Remains Favorable, With Stable Demand Fundamentals Eagle well-positioned currently and for anticipated demand upswing over medium-long term State and Federal infrastructure budgets remain healthy, infrastructure awards accelerating Two-thirds of IIJA funds remaining to be spent, supporti
Slide 5: Record Revenue Up 4%
Record Revenue Up 4% Revenue In millions $635 $609 4% INCREASE DRIVEN BY: Higher Cement and Wallboard sales volumes Contribution from acquired aggregates businesses 2025 2026 FISCAL Q1 5
Slide 6: EPS Down 5%
EPS Down 5% Diluted EPS $5 $3.94 $4 $3.76 $4 Q1 RESULTS REFLECT: $3 Lower Cement earnings $3 Reduced share count due to $2 share buybacks $2 $1 $1 $0 2025 2026 FISCAL Q1 6
Slide 7: Heavy Materials First Quarter Results Reflect Increased Cement Sales Volume and Higher Operating Costs
Heavy Materials First Quarter Results Reflect Increased Cement Sales Volume and Higher Operating Costs Revenue* Operating Earnings In millions In millions FIRST QUARTER HIGHLIGHTS Cement sales volume $421 +2% $400 Net Cement sales prices flat Aggregates sales volume $92 $87 +117% FY2025 FY2026
Slide 8: Light Materials Results Driven by Higher Wallboard Sales Volume
Light Materials Results Driven by Higher Wallboard Sales Volume Revenue Operating Earnings In millions In millions $248 $251 FIRST QUARTER HIGHLIGHTS Wallboard sales volume +4% $102 $102 Wallboard net sales prices -3% FY2025 FY2026 FY2025 FY2026 FIRST QUARTER FIRST QUARTER 8
Slide 9: Substantial Cash Flow Generation
Substantial Cash Flow Generation $137 million of cash flow from operations Quarter ended June 30 In millions 2024 2025 Operating Cash Flow1 $133 $137 +3% Capex, net (33) (76) Free Cash Flow $100 $61 Dividends Paid (9) (8) Share Repurchases (85) (79) Debt Borrowings 8 71 Other (2) (6) Net Change in C
Slide 10: Capital Structure Continues to Provide Significant Financial Flexibility
Capital Structure Continues to Provide Significant Financial Flexibility Net Debt-to-Cap Net Debt to Adjusted EBITDA 1 1.6x 1.5x 46% 46% 3.31.25 6.30.25 3.31.25 6.30.25 1 “Net Debt to Adjusted EBITDA” is defined as Net Debt divided by Adjusted EBITDA. Net Debt to Adjusted EBITDA and Adjusted EBITDA
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 We present Earnings Before Interest, Taxes, Fiscal Year ended TTM Depreciation and Amortization (EBITDA) and March 31, 2025 June 30, 2025 Adjusted EBITDA to provide additional measures of operating performance and allow for more consistent comparison of o
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 As of As of not be considered as an alternative to debt as March 31, 2025 June 30, 2025 defined by GAAP. We define Net Debt as total debt minus cash and cash equivalents to indicate the amount of total debt t