Short answer
Eagle Materials Inc (EXP) filed its Q3 2016 10-Q quarterly report on Oct 24, 2016 for the quarter ended Sep 30, 2016.
Eagle Materials Inc Q3 2016 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $332.7M, up 1% YoY from $329.0M
- Gross margin 27% vs 13% YoY, adjusted margin 27% vs 25%
- Best segment: Recycled Paperboard revenue $44.5M, up 14%, operating earnings $10.2M, up 26%
- Worst segment: Oil and Gas Proppants revenue $6.6M, down 64%, operating loss $4.1M
- Operating cash flow $160.2M vs $107.6M, with $18.2M capital expenditures and $60.0M stock repurchases
- Fairborn Acquisition: $400.0M expected in fourth-quarter calendar 2016 or shortly thereafter; proppant headwinds expected into calendar 2017
Risk Factors
- No material changes disclosed from the most recent 10-K; risks remain substantially carried forward
- Regulatory: EPA ozone standard lowered from 75 ppb to 70 ppb, potentially requiring significant compliance capital expenditures
- Market: frac-sand demand remains exposed to oil and natural-gas price volatility and well-completion activity
- Operational: unfavorable weather during April through November peak construction months could disproportionately reduce annual operating income
- Financial: debt covenants could trigger accelerated repayment upon default, limiting refinancing flexibility
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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