Displaying items by tag: US

US: Lowe's has concluded a deal to acquire Foundation Building Materials for US$8.8bn. Foundation Building Materials is a distributor of gypsum wallboard and other building products. Baystreet News has reported that the deal marks Lowe's second acquisition in the residential construction segment so far in 2025.

US: Alternative wallboard developer Xeriant has scheduled a limited production run of its recycled plastic and fibre-based Nexboard with a contract producer. Construction & Demolition Recycling News has reported that the production run will take place in August 2025.

Xeriant CEO Keith Duffy said "We are very pleased with the performance of Nexboard's fire resistance and other properties after incorporating our proprietary nanotechnology. We continue to receive strong interest from global construction leaders who are actively seeking non-toxic, fire- and water-resistant alternatives to gypsum wallboard, wood-based and cementitious panels. The latest formulation's success validates years of research and development investment, positioning Xeriant to capture market share in both traditional construction and emerging smart building applications, where performance and sustainability are paramount."

US: Eagle Materials reported revenues of US$635m in the first quarter of the 2026 Fiscal Year (FY2026), up by 4% year-on-year. The group’s adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA), however, fell by 4%, to US$215m. Its net earnings fell by 8%, to US$123m.

In its gypsum business, the company noted ‘steady’ single-family residential construction demand amid a ‘less clear’ interest rate environment. Revenues rose by 1%, to US$251m, and net earnings remained level year-on-year, at US$102m. Gypsum wallboard sales volumes rose by 4%, to 72.8Mm², while prices dropped by 3%, to US$2.50/m². During the quarter, Eagle Materials commenced the purchase of equipment for its upcoming Duke, Oklahoma, gypsum wallboard plant upgrade and expansion.

Michael Haack, president and CEO, said "Eagle had a solid start to FY2026. Against the current backdrop of ongoing macroeconomic and policy uncertainty as well as adverse weather conditions across many of our markets, our portfolio of businesses continued to perform well, and our end markets remained resilient.”

US: The United States Geological Survey (USGS) has published its first-quarter 2025 gypsum market data, showing a 9% year-on-year decline in domestic gypsum wallboard deliveries, to 574Mm². The data did not include figures for gypsum wallboard production. Gypsum wallboard exports rose by 30% to 24.8Mm², 23.8Mm² (96%) of which went to Canada. Imports totalled 21.4Mm², up by 6%, 20.5Mm² (96%) of which came from Mexico.

The US produced 4.96Mt of natural gypsum during the quarter, down by 1% year-on-year from the first quarter of 2024. Imports remained level at 1.7Mt. Spain supplied 680,000t (40%), Canada 527,000t (31%) and Mexico 425,000t (25%).

US: Roofing products distributor QXO has offered to acquire GMS for US$5bn and said it will proceed with a hostile takeover if GMS rejects or does not engage with the offer by 24 June 2025. In a letter submitting the offer, QXO said that the proffered sum is 27% above GMS's current 60-day volume-weighted average value. GMS distributes gypsum wallboard, other gypsum products and steel framing from 300 distribution centres.

If the acquisition proceeds, it will bring QXO into the interior building materials production business for the first time. In the roofing distribution segment, it acquired Beacon Roofing Supply for US$11bn earlier in 2025.

US: GMS recorded sales of US$5.35bn in the 2025 financial year, down by 6% year-on-year. Its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 19%, to US$501m. The group noted a fourth-quarter decline in its gypsum wallboard sales of 10%, to US$527m, 40% of group quarterly sales of US$1.33bn.

President and CEO John Turner noted the ‘solid results,’ despite the ‘deterioration in end-market conditions as we moved through the year.’ Looking ahead to the current, 2026 financial year, he said “The ongoing challenging interest rate environment and general market uncertainty continue to be a headwind for the business, contributing to reduced levels of activity in each of our major end markets. We are cautiously optimistic that we are nearing the bottom of this cycle and believe pent-up demand will materialise as the macro-environment improves. Once this market demand returns, we will be well-positioned to capture the opportunity as a leaner and more efficient organisation."

US: USG plans to make a US$4.5m expansion to a mill building at its Jacksonville gypsum wallboard plant in Florida. The plant also produces ceiling tiles and panels and flooring and roofing materials. The Jacksonville Business Journal newspaper has reported that the company has applied to city authorities for a permit for the expansion.

US: The US construction industry is reportedly bracing for heightened labour shortages amid on-going federal enforcement actions against suspected illegal immigrants. Forbes has reported that sections of the workforce are ‘shaken,’ with some builders at one San Francisco firm avoiding certain tasks or not coming to work at all. Authorities have already deported three of the firm’s workers.

The National Association of Home Builders has proposed a new visa programme for construction workers and supportive pathways to legal residency for those already working in the industry. 61% of gypsum wallboard installers in the US were born in other countries.

The on-going US construction labour shortage reportedly cost the industry US$10.8bn in 2024, reducing new single-family homebuilding by 19,000 units.

US: The Gypsum Association has appointed Christian Chinsio as its new Director of Codes, Standards and Research. Chinsio has 28 years’ experience in management and technical roles in the building materials industry. He is Technical Development Manager at CertainTeed Gypsum, with responsibility over product rationalisation, competitive testing and quality improvements across plants nationwide. He previously represented CertainTeed Gypsum on the Gypsum Association's Building Code and Technical Committee. Other prior management roles include positions at Continental Building Products and Lafarge North America.

Gypsum Association Executive Director Steve Meima said "Christian's 28 years of building products manufacturing experience, the past 25 being specific to gypsum panel and gypsum products manufacturing, is sure to serve well the interests of our members and the technical information needs of architectural, engineering and construction professionals."

US: Eagle Materials recorded sales of US$2.3bn in the 2025 financial year, which ended on 31 March 2025. This corresponds to a rise of less than 1% year-on-year. Group net earnings were US$463m, down by 3%.

In the Light Materials segment, revenues rose by less than 1% to US$2.26bn. This was driven by increased recycled paperboard sales volumes and prices. Gypsum wallboard sales volumes were 279Mm², up slightly year-on-year. They rose in price by 1%, to US$2.54/m². As a result, revenues from gypsum wallboard reached US$846m, up by 0.8% from US$840m in the 2024 financial year.