Short answer
Eagle Materials Inc (EXP) filed its Q3 2017 10-Q quarterly report on Oct 25, 2017 for the quarter ended Sep 30, 2017.
Eagle Materials Inc Q3 2017 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $376.3M, up from $332.7M YoY, driven by Fairborn Acquisition contribution of $25.3M
- Gross margin 26% vs 27% YoY, net earnings $63.4M vs $60.2M
- Best segment: Oil and Gas Proppants revenue $22.0M, up 232%; worst: Recycled Paperboard earnings $6.5M, down 36%
- Operating cash flow $152.7M vs $160.2M; capital expenditures $44.9M and Wildcat Acquisition spending $36.8M
- Outlook: construction demand promising; Utica buildout expected to cost $70.0M, with recycled fiber costs remaining elevated
Risk Factors
- Regulatory risk: CISWI Rule compliance expected in early 2018, potentially requiring significant capital expenditures
- Environmental risk: Ozone standard lowered to 70 ppb, potentially triggering costly controls in nonattainment areas
- Market risk: Excess U.S. gypsum wallboard capacity could pressure product prices
- Operational risk: Peak-period weather or equipment failures could disproportionately reduce full-year operating income and cash flow
- Financial risk: Debt covenant breaches could accelerate outstanding indebtedness and terminate further credit commitments
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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