Thank you. for Materials' call to morning. second fiscal Welcome the Eagle quarter conference Good of XXXX.
you We glad could us with are today. be
Joining Development and Financial our Executive me President Communications. Craig Bob Vice Corporate and Stewart, Chief Strategy, of today are Officer; Kesler,
access on be To the the slide link this a to go will made in to please There with www.eaglematerials.com connection presentation call. it and click webcast.
statements cautionary made please note the that first disclosure accessing regarding are you're our forward-looking cause results statements and the slides, These those to While risks differ call. uncertainties during the could slide call. the to from covers subject during discussed that
For at information, is refer of which disclosure, also the further included to the please this end press release.
be by to in announced you morning track calendar is sides on me expected and can still then publicly brief two light half that developments and there be process begin separate and are heavy you of our companies. If assured updating XXXX. timely plan businesses we complete occur now manner. of into on is a important will traded to independent this that our between you in separation the The the first Let
business Paperboard The long business of Light its record comprised stand-alone has owned Cement Materials Heartland independently. cement supply Eagle's recycled assets owned and a be operations performance. superior the reserves company's excellent These prospects. cement margin track Wallboard scale have the substantial this future system The long-term. largest producer will their separation, business and a Gypsum the of capacity will operate as raw U.S. the plant pure-play. After distinct to will also ample and give we'll productive material over that business
to business with plan, are separation distinct driven industry reserves. raw independent material and distinguished and our that markets each leading levels satisfaction. business short, long-lived existing by positions businesses. has previously These Businesses and customer In we Sunbelt of based itself announced industry new financial future benchmark financial able two has sustainable businesses through uniquely are cycles achieved per prospects. as the The value be on producer creating U.S. in and low-cost results will results operational investors
or outstanding half to press of that value remain We stated confidence through the continue that create our fully our fiscal shares opportunities and we we to of our and businesses during our value underscore in arise to illustrating of any creation release that million over to noting worth committed their that year, prospects. the also this first shares to $XXX returned is nearly evaluate may dividends, We repurchases and the separation. a completion intention. X% of these about million share combination X.X shareholder repurchased in prior shareholders shareholder our commitment To additional
the end We jeopardizing the able all will made opportunities improvement financial matters that to of regarding repurchases and nor may is today about these attractive to flexibility at or we call these That questions comments without upon our prepared repurchases answer growth be pursue share today. emerge. the separation any
for bottom and our of our both for year the lines, of and was Now outlook the for turn rest a positive. in terms quarter business to remains results let record top me quarter. the Eagle It the
XX% the were First, were up X.X over earnings sales prior quarter a for XX%. volumes the and record side. tonne, year heavy the Cement million
of high demand positive. capacity levels operating outlook We're at remains and utilization
to plans states come. Heartland supply spending by – We in approvals over U.S. recent should U.S. infrastructure are the our level footprint, especially which across the for key further encouraged U.S. state attention years
we most cement recently, complementary Concrete footprint. past to This states acquired Wyoming. small quarter, these our operation Notably a and and Illinois include Aggregates
This general was to for not tend we integration. downstream favor unique in While us. a opportunity
in our both opportunities acquisition met. of growth primary located types be and our operations strategic these are Cement investment can at favorably geographies and for financial look where always will criteria We
strategy in and growth would emphasis a growth have intentions. We improvement Cement supports improvement. of on balanced actually I our our add strategic much
a consistent our cycles have our full track reinvestment in our more value assets. potential realize costs, lower create and through business customers record We of earnings of for the to
need is grinding the we Three on that have our with greatest. storage of that are product of serve capacity Cement customers clinker reach demand volumes to seasonal the optimize available specific our ways we a by basis do investing with capacity terminal to this the to match and ensuring they having ensure is when our timely capacity
to in the completion mill customer these priorities customer for better provide Illinois a our personally. All increased loading opportunities support. Identifying Altoona, top the vertical me pursuing are our opportunities, doing project improvement rail increased and sales of and distribution expansion investments support of saleable and these are network better investments cost, safely lower all recent few of in that these Our examples. a of Sugar the Creek, lead most the volumes and in recent and volume importantly Iowa in
I We of you position, operational in strong want exciting. very to achieve and us are the find but recognized we of for still front assure well runway have the are to performance here earnings a prospects improvement a lot
line. the a business low trend markets been single-digit activity, have mixed. see net end-use the feet, reflect this X% made continued hurricanes Volumes prices housing we side. XXX and about and but more up still light in recognizing the for Results that sales Wallboard Turning to light XX%. was declined We notably in to remodeling. in discussing, its Volume pre-buy the repair Gypsum on that quarter strength square million the growth were growth the straight and seldom
– fairly market optimism. simply would coming to the Wallboard with I coming since look add to construction the pricing the performance Wallboard been reflects with demand today. market a and a clearly in has year flat on fundamentals of environment. that We market close we pressures share price U.S. remain the June. commodity Our of drives here Residential forward upswing, XX% degree
foreseeable in the currently enjoying for tailwind market stabilized we exist that for future. remain China's the recycled cost also is Wallboard paper for U.S. recycled that Paperboard We lower the costs. OCC outlook due with to operating supports development near-term from the an costs a to fiber our us expect are
our are that explore way. alternatives meantime, this alternatives. the are In to us that also exploring had periods Light business strategic indicated business where we In under we business while cost during challenged to we neutrality are the our strategic adjustments that making Heavy roughly enable is and like operate separation conditions sand cash for will continue announcement and process at we
the as That's all as far from me introductory remarks.
the go financials over for it let to quarter. Now through me the turn Craig to
