Eagle Materials Q4 Profit Rises; Revenue Up 20%

(RTTNews) - Eagle Materials Inc. (EXP) reported fourth quarter net earnings of $74.3 million, up 13% from prior year. Earnings per share from continuing operations was $1.90, up 22%. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $1.73, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA from continuing operations was $132.2 million, up 7%.

Revenue was $413.1 million, up 20%. Analysts on average had estimated $401.15 million in revenue.

Eagle's Board has authorized the repurchase of an additional 7.5 million shares of its common stock. The total new authorization plus remaining authorization is approximately 10.3 million shares and represents nearly 25% of company shares outstanding.