Eagle Materials : 1Q27 webcast slides FINAL

About this update from Eagle Materials Inc

July 29, 2026 First Quarter Fiscal 2027 Earnings Conference Call Fiscal Year 2027 First Quarter Highlights Strong financial and strategic execution in midst of ongoing macroeconomic uncertainty Delivered solid financial results Revenue up 3%, to record $651 million Gross profit margin of 24.8% EPS of $3.29 Advanced strategic goals: Employee safety, asset efficiency Increased hazard observation and first-aid reporting Excellent progress on Laramie, WY cement and Duke, OK wallboard plant modernization and expansions, which will further advance low-cost position Continued effort to convert waste streams across businesses to higher-margin revenue streams Generated $154 million of operating cash flow, up 13% Returned $92 million to shareholders Repurchased 406,5000 shares for $84 million Paid quarterly dividend End Markets Remain Resilient Eagle remains strongly positioned, even in dynamic market conditions Cement State and Federal infrastructure budgets remain healthy, with robust pipeline of multi-year infrastructure projects Strong growth in large private non-residential construction projects, e.g., data centers Continued high-return investments in plants meaningfully advancing Eagle's low-cost competitive position Gypsum Wallboard Relatively stable demand, even as high mortgage rates remain Eagle's low-cost structure, supported by unique raw-materials reserve position and continuous disciplined investments in plant efficiency, provides strong advantage in less clear interest-rate environment Record Revenue Up 3% Revenue $635 $651 In millions INCREASE DRIVEN BY: Higher Cement and Recycled Paperboard sales volumes Higher Aggregates sales volume and prices EPS Down 13% Q1 RESULTS REFLECT: Lower Cement and Wallboard earnings resulting from higher freight costs and equipment downtime at Mountain Cement Partially offset by reduced share count due to share buybacks Diluted EPS $3.29 $3.76 Heavy Materials First Quarter Results Reflect Increased Cement Sales Volume and Higher Operating Costs FIRST QUARTER HIGHLIGHTS Cement sales volume +8% Net Cement sales prices -2% Aggregates sales volume +1% Higher freight & raw materials costs and downtime at Mountain Cement Revenue * In millions $454 $421 FY2026 FY2027 Operating Earnings In millions $87 $78 FY2026 FY2027 FIRST QUARTER FIRST QUARTER * Includes Cement, Concrete and Aggregates and Cement Intersegment revenue, and our proportionate share of the Joint Venture Light Materials Results Driven by Lower Wallboard Sales Volume and Higher Freight Costs Revenue In millions $238 $251 Operating Earnings In millions FIRST QUARTER HIGHLIGHTS Wallboard sales volume -2% Wallboard net sales prices -10% Higher freight costs $86 $102 FY2026 FY2027 FIRST QUARTER FY2026 FY2027 FIRST QUARTER Continued Strong Cash Flow Generation $154 million of cash flow from operations Quarter ended June 30 In millions 2025 2026 Operating Cash Flow 1 $137 $154 +13% Capex, net (76) (121) Free Cash Flow $61 $33 Dividends Paid (8) (8) Share Repurchases (79) (84) Debt Borrowings/(Repayments) 71 (4) Other (6) (2) Net Change in Cash Balance $39 $(64) 1 Includes depreciation of $41 million for quarters ended June 30, 2025 and 2026, respectively. Due to rounding, numbers may not add up precisely to the total provided. 9 Capital Structure Provides Significant Financial Flexibility Supporting Growth Strategy Net Debt-to-Cap Net Debt to Adjusted EBITDA 1 50% 51% 3.31.26 6.30.26 2.1x 1.9x 3.31.26 6.30.26 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 financial measures and are described in the Appendix. 10 Question & Answer 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. Appendix Reconciliation of EBITDA and Adjusted EBITDA Net Earnings, as reported Income Tax Expense Interest Expense Depreciation, Depletion and Amortization EBITDA Stock-based Compensation Adjusted EBITDA Fiscal Year ended March 31, 2026 TTM June 30, 2026 In millions $424 118 46 165 753 21 $774 $403 113 48 165 729 21 $750 We present Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) and Adjusted EBITDA to provide additional measures of operating performance and allow for more consistent comparison of operating performance from period to period. EBITDA is a non-GAAP financial measure that provides supplemental information regarding the operating performance of our business without regard to financing methods, capital structures or historical cost basis. Adjusted EBITDA is also a non-GAAP financial measure that excludes the impact from non-routine items (Non-routine Items) and stock-based compensation, in each case if applicable during the relevant fiscal quarter or fiscal year. Management uses EBITDA and Adjusted EBITDA as alternative bases for comparing the operating performance of Eagle from period to period and for purposes of its budgeting and planning processes. Adjusted EBITDA may not be comparable to similarly titled measures of other companies because other companies may not calculate Adjusted EBITDA in the same manner. Neither EBITDA nor Adjusted EBITDA should be considered in isolation or as an alternative to net income, cash flow from operations or any other measure of financial performance in accordance with GAAP. The table beside shows the calculation of EBITDA and Adjusted EBITDA and reconciles them to net earnings in accordance with GAAP for the fiscal year ended March 31, 2026, and the trailing twelve-month period ended June 30, 2026. Reconciliation of Net Debt to Adjusted EBITDA Cash and cash equivalents 298 234 Net Debt $1,483 $1,544 Total debt, excluding debt issuance costs Trailing Twelve Months Adjusted EBITDA Net Debt to Adjusted EBITDA As of March 31, 2026 As of June 30, 2026 In millions $1,781 $774 1.9x $1,778 $750 2.1x GAAP does not define "Net Debt" and it should not be considered as an alternative to debt as defined by GAAP. We define Net Debt as total debt minus cash and cash equivalents to indicate the amount of total debt that would remain if the Company applied the cash and cash equivalents held by it to the payment of outstanding debt. The Company also uses "Net Debt to Adjusted EBITDA," which it defines as Net Debt divided by Adjusted EBITDA, as an alternative metric to assist it in understanding its leverage position. We present this metric for the convenience of the investment community and rating agencies who use such metrics in their analysis, and for investors who need to understand the metrics we use to assess performance and monitor our cash and liquidity positions. Attention : This is an excerpt of the original content. To continue reading it, access the original document here .

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