Slide 1: First Quarter Fiscal 2023 Earnings Release and Conference Call
July 28, 2022 First Quarter Fiscal 2023 Earnings Release and Conference Call
Slide 2: Forward-Looking Statements
Forward-Looking Statements Forward-Looking Statements. This presentation contains forward-looking statements within the and their effects on our facilities, operations and contractual arrangements with third parties; meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities
Slide 3: Fiscal Year 2023 First Quarter Highlights
Fiscal Year 2023 First Quarter Highlights Quarter exceeded expectations Delivered another consecutive quarter of record results — Revenue up 18% to record $561 million — Gross profit margin increased 30 bps to 26.9% — Adjusted EPS up 25% to $2.82 Executed on market opportunities — Pricing action
Slide 4: Record Revenue Up 18%
Record Revenue Up 18% Revenue $600 In millions $561 $500 $476 18% INCREASE DRIVEN BY: $400 Higher Cement and Wallboard sales prices $300 Increased Wallboard sales $200 volume $100 $0 2022 2023 FISCAL Q1 4
Slide 5: Record EPS Up 22%
Record EPS Up 22% Diluted EPS $3 $2.75 INCREASE REFLECTS: $3 $2.25 22% Robust price improvement $2 across all products Reduced share count due to $2 share buybacks $1 $1 $0 2022 2023 FISCAL Q1 5
Slide 6: Heavy Materials First Quarter Results Reflect Strong Price Momentum
Heavy Materials First Quarter Results Reflect Strong Price Momentum Revenue* Operating Earnings v In millions In millions $346 $315 FIRST QUARTER CEMENT Net sales prices +10% Sales volume -2% Energy cost inflation partially offset price increases $68 $68 FY2022 FY2023 FY2022 FY2023 FIRST QUART
Slide 7: Light Materials First Quarter Results Driven by Higher Wallboard Sales Price and Volume Growth
Light Materials First Quarter Results Driven by Higher Wallboard Sales Price and Volume Growth Revenue Operating Earnings v In millions $248 In millions $191 30% FIRST QUARTER WALLBOARD Net sales prices +24% Sales volume +5% $88 $67 32% FY2022 FY2023 FY2022 FY2023 FIRST QUARTER FIRST QUARTER 7
Slide 8: Strong Cash Flow Generation
Strong Cash Flow Generation $125 million of cash flow from operations Quarter ended June 30 in millions 2021 2022 Operating Cash Flow1 $111 $125 +13% Capex, net (12) (15) Free Cash Flow $99 $110 Acquisition Spending – (121) Dividends Paid – (10) Share Repurchases (62) (110) Change in Debt – 181 Othe
Slide 9: Capital Structure Provides Significant Financial Flexibility
Capital Structure Provides Significant Financial Flexibility Net Debt-to-Cap Net Debt to Adjusted EBITDA 1 1.6x 49% 1.4x 45% 3.31.22 6.30.22 3.31.22 6.30.22 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-GAAP
Slide 10: Question & Answer
E Eagle Materials Question & Answer
Slide 11: 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 12: Appendix
E Eagle Materials Appendix
Slide 13: 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, 2022 June 30, 2022 Adjusted EBITDA to provide more consistent comparison of operating performance from period to period. EBITDA is a non
Slide 14: 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 cash flow or March 31, 2022 June 30, 2022 liquidity measures defined by GAAP. We define Net Debt as total debt minus cash and cash equivalents to indicate th