Eagle Materials Inc · NYSE:EXP

Eagle Materials — Q1 2024 Earnings Presentation

15 slides from Eagle Materials's earnings presentation, Jul 27, 2023

  1. Slide 1: First Quarter Fiscal 2024 Earnings Release and Conference Call

    July 27, 2023 First Quarter Fiscal 2024 Earnings Release and Conference Call

  2. Slide 2: Forward-Looking Statements

    Forward-Looking Statements Forward-Looking Statements. This presentation contains forward-looking statements with third parties; competition; cyber-attacks or data security breaches; increases in within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the capacity in the gyps

  3. Slide 3: Fiscal Year 2024 First Quarter Highlights

    Fiscal Year 2024 First Quarter Highlights Strong quarter  Delivered another consecutive quarter of record results — Revenue up 7% to record $602 million — Gross profit margin increased 240 bps to 29.3% — Adjusted EPS up 26% to $3.55  Executed on market opportunities — Pricing actions helped mitiga

  4. Slide 4: Eagle Positioned to Capitalize on Strong Demand and Supply Constraints in Both Sectors

    Eagle Positioned to Capitalize on Strong Demand and Supply Constraints in Both Sectors Favorable economic conditions  Robust federal, state, and local spending on infrastructure — Increased federal funding from Infrastructure and Jobs Act — Infrastructure awards reaching multi-decade highs in state

  5. Slide 5: Record Revenue Up 7%

    Record Revenue Up 7% Revenue In millions $602 $561 7% INCREASE DRIVEN BY:  Higher Cement and Wallboard sales prices  Improved Cement sales volume 2023 2024 FISCAL Q1 5

  6. Slide 6: Record EPS Up 24%

    Record EPS Up 24% Diluted EPS $4 $4 $3.40 INCREASE REFLECTS: $3 $2.75 24%  Margin improvement across all $3 business lines  Reduced share count due to $2 share buybacks $2 $1 $1 $0 2023 2024 FISCAL Q1 6

  7. Slide 7: Heavy Materials First Quarter Results Reflect Strong Price Momentum

    Heavy Materials First Quarter Results Reflect Strong Price Momentum Revenue* Operating Earnings In millions In millions $396 FIRST QUARTER CEMENT  Net sales prices +15% $346  Sales volume +1%  Increased maintenance costs partially offset $81 price increases $68 FY2023 FY2024 FY2023 FY2024 FIRST Q

  8. Slide 8: Light Materials First Quarter Results Driven by Higher Wallboard Sales Price

    Light Materials First Quarter Results Driven by Higher Wallboard Sales Price Revenue Operating Earnings v In millions In millions $248 $242 FIRST QUARTER WALLBOARD  Net sales prices +8%  Sales volume -4% $98 $88 FY2023 FY2024 FY2023 FY2024 FIRST QUARTER FIRST QUARTER 8

  9. Slide 9: Strong Cash Flow Generation

    Strong Cash Flow Generation $140 million of cash flow from operations, up 12% Quarter ended June 30 in millions 2022 2023 Operating Cash Flow1 $125 $140 +12% Capex, net (15) (36) Free Cash Flow $110 $104 Acquisition Spending (121) (55) Dividends Paid (10) (9) Share Repurchases (110) (74) Change in D

  10. 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 1.4x 1.4x 48% 47% 3.31.23 6.30.23 3.31.23 6.30.23 1 “Net Debt to Adjusted EBITDA” is defined as Net Debt divided by Adjusted EBITDA. Net Debt to Adjusted EBITDA and Adjusted EBITDA

  11. Slide 11: Question & Answer

    E Eagle Materials Question & Answer

  12. 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.

  13. Slide 13: Appendix

    E Eagle Materials Appendix

  14. 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, 2023 June 30, 2023 Depreciation and Amortization (EBITDA) and Adjusted EBITDA to provide more consistent In millions comparison of operating performance from period to period. EBI

  15. 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 cash flow or March 31, 2023 June 30, 2023 liquidity measures defined by GAAP. We define Net Debt as total debt minus cash and cash equivalents to indicate th

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