Short answer
Eagle Materials Inc (EXP) filed its Q2 2018 10-Q quarterly report on Jul 30, 2018 for the quarter ended Jun 30, 2018.
Eagle Materials Inc Q2 2018 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $393.8M, up 8% YoY from $366.1M, driven by pricing and volume increases
- Gross margin 23% vs 24%; net earnings $66.3M vs $54.9M
- Best segment: Recycled Paperboard operating earnings $10.0M, up 102%, margin 22% vs 11%
- Worst segment: Oil and Gas Proppants operating loss $2.7M, up 33%, including $1.6M Utica start-up costs
- Operating cash flow $81.9M vs $53.7M; capital expenditures $53.1M, share repurchases $52.3M
- Outlook: freight costs expected up 10% to 12% in fiscal 2019; fiscal 2019 capital expenditures projected at $110.0M to $125.0M
Risk Factors
- No material changes identified from the 10-K, with risks presented as carried-forward factors
- Regulatory risk: CISWI Rule compliance date reached February 7, 2018, potentially requiring cement-kiln emission reductions and capital investment
- Market risk: significant excess nameplate capacity in U.S. gypsum wallboard, pressuring product prices
- Operational risk: peak-period weather or equipment failures could disproportionately reduce annual earnings and cash flow
- Financial risk: debt covenants could accelerate outstanding borrowings following a default
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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