US: Eagle Materials’ revenue rose slightly to US$1.11bn in the nine months to 31 December 2018. Revenue from its Light Materials business, including gypsum wallboard, grew by 3% to US$479m from US$467m. Gypsum wallboard production dropped slightly to 185Mm2. Operating earnings increased by 13% to US$166m from US$146m.
“Adjusting for the effects of unusual weather trends during 2018 and a shift in the timing of wallboard price increases and related buying activity, we estimate that the overall market demand for our building materials, notably cement and wallboard, remained in positive territory in 2018, with growth rates in the low single digits,” said chief executive officer (CEO) Dave Powers.
