Short answer
Eagle Materials Inc (EXP) filed its Q2 2019 10-Q quarterly report on Jul 31, 2019 for the quarter ended Jun 30, 2019.
Eagle Materials Inc Q2 2019 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $370.6M, down 6% YoY from $393.8M
- Gross margin 20% vs 23%; net earnings $41.3M vs $66.3M
- Best segment: Cement revenue $195.3M, up 5%; worst: Oil and Gas Proppants revenue $15.2M, down 45%
- Operating cash flow $50.7M vs $81.9M; share repurchases $198.4M and capital expenditures $25.5M
- Outlook positive for 2019; proppants weakness, pricing pressure, Midwest flooding, and higher freight costs remain headwinds
Risk Factors
- Newly added separation risk: May 30, 2019 spin-off announcement triggered uncertainty over approvals, tax opinion, timing, and completion terms
- Most material operational update: Proposed separation could distract management, disrupt operations, and increase key-employee retention challenges
- Regulatory risk: 10 of 16 operating states contain areas designated nonattainment under the 70 ppb ozone standard
- Near-term market risk: Excess U.S. gypsum wallboard capacity could pressure commodity prices
- Financial risk: Debt covenant breaches could accelerate outstanding borrowings and restrict further credit
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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