Gypsum industry news
Eagle Materials reports first-half results 02 November 2020
US: Eagle Materials recorded sales of US$875m in the six months between 1 April 2020 and 30 September 2020, the first half of its 2020 financial year, up by 16% year-on-year from US$756m in the first half of the 2019 financial year. Gypsum wallboard sales were 132Mm2, up by 6% from 125Mm2, while net earnings rose by 70% to US$192m from US$113m.
President and chief executive officer (CEO) Michael Haack said, “We are pleased to have delivered another quarter of record revenue and net earnings growth while further strengthening our balance sheet. Our end markets remain resilient as Covid-19-related uncertainty persists.” He added that, “the housing market continued its strong rebound” and that wallboard shipments rose by 6% in the second quarter. Good operating cash flow and a tax refund helped the company increase its earnings ‘significantly’ in the reporting period.
National Gypsum increases nine-month sales by 82% 02 November 2020
Saudi Arabia: National Gypsum’s net sales in the first nine months of 2020 were US$22.0m, up by 82% year-on-year from US$12.1m in the corresponding period of 2019. Net profit rose significantly to US$8.60m from US$416,000.
