Eagle Materials revenue rises slightly in first half of 2016
Eagle Materials revenue has risen by 2.6% year-on-year to US$630m in the first half of 2016 from US$614m in the same period of 2015. Its net earnings rose by 56% to US$106m from US$67.6m. Revenue from its cement business rose by 10% to US$252m from US$229m. The company singled out the strong performance of its cement business in the second quarter of 2016 with record earnings.
However, it also noted that average net cement sales price at its joint venture declined year-on-year due to the shift from oil well cement to construction-grade cement over the past year. Overall cement sales volumes remained static at 2.23Mt in the first half of 2016.
Dr. José Ignacio Alvarez Galindo, Associate Professor of Inorganic Chemistry and Materials, Science Investigador Principal Grupo MIMED, University of Navarra, Spain
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