Eagle Materials Reports Record Fiscal 2026 Revenue Amid Growth Investments

Eagle Materials Inc. reported record fiscal 2026 revenue of $2.3 billion, up 2% year over year, while net earnings declined 9% to $423.8 million for the fiscal year ended March 31, 2026. The company also posted fourth-quarter revenue of $479.1 million, a 2% increase from the prior-year period.

The building materials manufacturer said annual adjusted EBITDA decreased 5% to $774.5 million, while diluted earnings per share fell 4% to $13.16. Fourth-quarter adjusted EBITDA declined 4% to $136.1 million, and diluted earnings per share decreased 5% to $1.91.

President and Chief Executive Officer Michael Haack said the company delivered “strong financial, operational, and strategic performance” despite geopolitical uncertainty and trade policy disruptions. He noted that cement sales volume increased 8% during the fiscal year, while organic aggregates sales volume rose 24%, supported by public infrastructure activity and private non-residential construction projects.

Eagle Materials continued investing in plant modernization projects during the year. The company said modernization of its Mountain Cement plant in Laramie, Wyoming, is approximately 60% complete, with commissioning of the new kiln line expected to begin in late calendar 2026. Construction also began on the modernization of its gypsum wallboard plant in Duke, Oklahoma, with commissioning anticipated in the second half of calendar 2027. The projects are intended to increase production capacity, reduce operating costs, and improve operational flexibility and reliability.

In its Heavy Materials segment, fiscal 2026 revenue increased 10% to $1.6 billion, driven by higher cement and aggregates sales volumes and contributions from acquired aggregates businesses. Cement revenue rose 8% to $1.3 billion, with annual cement sales volume increasing to 7.5 million tons.

The company’s Light Materials segment reported a 9% decline in annual revenue to $881.4 million, reflecting lower gypsum wallboard sales volumes and pricing amid continued softness in residential construction activity.

Eagle Materials repurchased approximately 1.7 million shares during fiscal 2026 for $382 million and reported total debt of $1.8 billion at year end, with a net leverage ratio of 1.9x adjusted EBITDA.