Eagle Materials Inc. (NYSE:EXP) delivered stronger-than-expected financial results for the first quarter of fiscal 2026, reporting record revenue of $634.7 million. The figure beat analyst projections of $610.96 million and represented a 4% year-over-year increase. Adjusted earnings per share came in at $3.76, just above the consensus estimate of $3.73, though slightly below last year’s result.
Following the earnings release, the company’s stock edged up 0.70% in pre-market trading.
Michael Haack, Eagle’s President and CEO, acknowledged the challenges the company faced in the quarter, citing “ongoing macroeconomic and policy uncertainty as well as adverse weather conditions across many of our markets.” Still, he emphasized the company’s resilience: “Eagle had a solid start to fiscal 2026. Our portfolio of businesses continued to perform well, and our end markets remained resilient.”
Revenue from the Heavy Materials division rose 5% to $421.3 million, driven by increased cement volume and contributions from recent acquisitions in the aggregates space. In the Light Materials segment, revenue improved 1% to $250.6 million. Gypsum Wallboard sales volume climbed 4%, although the average selling price dropped by 3%.
Despite the revenue growth, net income declined 8% to $123.4 million. The company attributed the decrease to rising cement-related operating costs and higher corporate expenses. However, Eagle maintained a healthy balance sheet, ending the quarter with a net leverage ratio of 1.6x. It also bought back roughly 358,000 shares at a cost of $79 million.
Looking ahead, Haack expressed optimism about Eagle’s long-term outlook. “The nation’s aging infrastructure continues to need renovation and expansion, which should benefit us as a U.S. domestic-only manufacturer of construction products and buildings materials.”
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