EXP - Earnings call transcript Q1 2025

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Operator

Good day, everyone, and welcome to Eagle Materials First Quarter Fiscal 2025 Earnings Conference Call. Today's event is being recorded. At this time, I'd like to turn the floor over to Eagle's President and Chief Executive Officer, Mr. Michael Haack. Mr. ahead. go please Haack,

Michael Haack

Good first to XXXX. quarter Michael Jamie. call This Materials for Haack. our of morning. you, Eagle Welcome conference is Thank fiscal year

Alex our today please Strategy Relations, go access click connection Development. There slide and Financial Craig with me a Corporate Vice on Kesler, to be to made Joining Officer; of eaglematerials.com are and the and the it, presentation Haddock, will Investor this Senior President To webcast. Chief link in call.

the that this note slide please slides, the accessing forward-looking during you're cautionary our made regarding call. first disclosure While covers statements

These that those statements to are discussed subject cause from to risks and differ could uncertainties during call. the results

refer end For please to further the disclosure, included of which information, release. is press at also our this

XXXX Today, I'm pleased to discuss our year. fiscal a to good start

The $XXX include increase first a XX% share. of earnings record and revenue in million per results quarter

consistent, Our and led our We approach efforts employees. disciplined to performance managing results conditions. of by by positive weather reflects during characterized quarter operating shifting was achieved our largely businesses solid quarter performance challenging this through our operational our and our the conditions,

our maintain consistent to businesses regardless running we of the Eagle, At our challenges presented. approach

aspects revolves as hold Our around that standards. approach several we

is safe focus operational on is first that It a area The financial results. belief operation our superior to leads safety. and

job efforts through As each another, safely. impressive to also most committed maintaining I country, to demonstrated the all with averages, consistently can their but travel always our our to working interactions one below through which businesses stay are the done Their our it see environment. across is are facilities importantly, safety ensuring across industry possible of our be statistics, employees safest

possible. efficiently on operating Second, we are as as focused relentlessly

customers. our accordingly. our like-new navigate We with us proactive and able to manage programs This challenges this benefited the to enabling facilities our quarter. approach costs efficiency high We are us our and maintenance regarding weather quarter maintenance support well always last in proactive perform with were condition, keep to

we sustainability. on maintain Third, continuously our focus

like quarter, others, I have want highlights to several mention. This

including our to nearing We continue economic make slag Lehigh Texas our completion progress facility, slag and is have environmental providing venture grinding joint Texas. in will customers meaningful and organic investments, several benefits by to on which

and reach Cement upgrade continue also this project not project our has only as recently producer less, upgrade but other our to milestones. more facility. our and of more sustainability on low-cost work This expansion provide efficient, position. will plant by this Mountain with the announced with we make focus expanding on also we on will We Dirt doing aligning begun, updates this

regards this Currently, we A the to are: blended area to are Limestone focused Cement, our Another on cement. with sustainability area our work regarding ]. [ COX XX% our reduce produce. highlights intensity and transition our is in of to products Portland continue around blended products or production PLC, we or is other few we PLC

in also to are alternative process usage of fuel We installing these fuels. expand systems of the X

in to mid at year. project mill our cut scheduled half usage capital is continues our completed water Our be to next and paper

for observations financial the me some let Now quarter. to turn

our demand to continuing businesses, each drivers to our timing and our but upside. Regarding skew vary, see for the also for business the of business outlook cadence outlook the see we we demand

are Nonresidential strong. to typically manufacturing the remains driven largely demand of projects should In years. relates the it nonresidential heavy especially projects ahead, [ confidence our around data provide by Cement, at the levels. remain visibility Both public construction, years coming infrastructure spend continue visibility picture multiyear that projects, to bill. infrastructure ] shows and as over elevated PBO IIJA

average. generally the geographic national our from and We markets footprint, outperform also our benefit

stay is in the U.S. supply performance, limited -- it season If to will response demand pushed and see especially think magnitudes the we strong Cement the out so our impacted did varying manufacturing place, our do regions, given the more different see degrees. cycle. weather in While continue construction other than all fundamentals business at to we any

Regarding frankly, demand much to fares, now, the harder will is of policymakers how term, data. the on our the in economy depend response the Wallboard business, react well right predict near in cycle side the how economic and our as to as

As over characteristics supply the come we've Wallboard the the to said structural to last believe especially our many several times, in offline continued as we continue has of years. business,

believe time. believe demand to to This -- underlying are: led housing key that for a been homes a facts the has Some shortage to of household while underbuilding long have we this lead led against us us in underbuilding expand. U.S. formations

housing backdrop existing is demand medium- for us continues business. age for the financials industry wallboard as and profile this has further U.S. cycle and proved create demand both the believe long-term confidence our an than the addition, business. performance giving in [ ] Wallboard to already older supply and In now, our stock ever, appealing we of But

of industry for with confident our As of we uncertainties some producer I continue position. benchmark the even the are we setting low-cost record can performance, look mentioned, we margin track our superior forward,

that I'll the comments opening of that conditions. economic our on running mirror To end, shifting consistency exceptionally conclude with in largely some our approach well businesses remarks my to

we Heavy M&A. years both investments looking both through Light to core our the ahead, to forward and opportunities the and even As strengthen segments committed Materials for we quarters, are and to organically across businesses look cycles through

strategy the history believe company, Our our these investment with over the returns criteria, has coupled will superior of strategic and and similar returns consistent shareholder strict we financial generate to our investments, in unique future. led outstanding

our core strong a maintaining balance sheet to tenet is healthy. keeping key Another

years. our at flexibility flow allows the the gives free on opportunities. This or generally to our execute return investment us through to several share have But excess it mostly X.Xx below also last leverage us to buybacks. shareholders, through We cash kept

our equally but stronger core make operationally. executing Finally, by business we'll important,

in excellent communities record As this track while the stewards we and operate people keeping of environmental in. performance our safe long shows, achieve will we our being

our over details it for turn financials. I'll that, With to on more Craig

D. Kesler

you, Thank Michael.

record Paperboard offset I'll partially revenue a an reflects prices by quarter Cement discussion. first comment The lower was on and Cement primarily of volume, increase and sales the volume, during higher sales which sales $XXX Wallboard increase segment million, mentioned, As X%. record

First earnings was by increase record driven quarter earnings a The share XX% X% reduction to year. and buyback higher $X.XX. That's increase fully a shares was the from a our program. per share due prior in diluted

volume Higher sales revenue construction and delayed the price increases our the year. primarily X%, Cement which Cement Turning implemented prices as Aggregates earlier projects, during now next In by wet quarter. up Concrete partially volume on driven sector, weather Cement Cement, by was Concrete and sales Cement performance to segment Heavy our Aggregates lower this offset Materials includes were hampering segments, slide. and

were X In addition, maintenance costs during up outages. our XXXX last June maintenance had cement costs XX%, of shipping primarily increased lower June. of because annual within the and fuel Operating planned days earnings prices, than Cement lower fewer business

results quarterly approximately acquisition. year's of costs last related associated in addition, the step-up In terminal included million Stockton with the values $X.X to inventory

Light costs, the net $XXX the Moving sales X%, sales prices next Revenue sector lower prices sector in to input primarily sales X% slide. million, recycled Operating increased increased the in reflecting earnings and energy. reflecting to Paperboard volume. sector on higher freight the Materials and record for and higher Wallboard

flow. cash our at now Looking

by In offset a flow million, and cash increased line earnings substantial the flow continue quarter, decreased to in working to reflecting way, X% operating in allocate strategic generate first with improved capital. capital We $XXX cash priorities. by disciplined our

spending we $XX shares for shareholders. our stock million XXX,XXX to our million, quarterly of to returning $XX Capital and decreased and million common repurchased paid $XX.X dividend,

current under authorization. remaining have repurchase X.X our million shares We

cash ended million $XXX Finally, XXXX, We a the look at was liquidity continues end million, quarter our which June to XX%, was with net we XX, no near-term our X.Xx. Total debt-to-cap committed ratio debt the remained of capital at significant net and leverage us hand. at the quarter and our give At have of structure, maturities. debt-to-EBITDA $XX meaningful flexibility. financial ratio on approximately

Thank you attending session. call. for question-and-answer the We'll Jamie? now move to today's

Operator

[Operator Instructions].

Our from from comes Inc. Grooms first question today Stephens Trey

Trey Grooms

on have compression a maybe on But improvement of margins little in the both I rising, OCC the Paperboard up, Wallboard. nice and margins in off, costs bit been Cement guess quarter. first Wallboard. First

be here near maybe So directional given and between timing should Wallboard the then of differences term? about Wallboard kind impact business, we thinking how the to in Paperboard the the

And you stand where still then could you low, pretty help hedging if offset? gas update that your an nat with Craig, And there again, on also us with pulling with back could then gas. efforts maybe give nat

D. Kesler

up OCC of prices significantly will fiber Yes. the early From Paper costs June, half costs, Thanks, we calendar recycled May and material the for which I business, raw second and Trey. have you, those 'XX. flat. saw tell April, OCC into been primary 'XX calendar an the are

couple bit the in earlier it in stay would little part through have through we the that where right around business gone the -- year that here to given September Wallboard pass of will higher So a to of that of quarter. months, seem little of over last pricing. inflation will the in see But prices the pass the mill there Wallboard, paper But a kind level. whereas you'll

lower right around natural of few from that for month. fiscal last in market the right a look these low did the just XX% rest But We're you're to prices. lower forward the right, as hedged in isn't And down the ] as gas, in see prices. mind, the prompt We XXXX, nice right that area. we're again, curve remainder you around XX% forward year-over-year days. curve, gas at benefit Keep at hedged the here [ -- as

Trey Grooms

Could All more there. That's little bit bit Cement. for maybe a right. you Got Again, the great a of same give us margin then it. improvement little kind detail? helpful. And

I the talk sustainability kind you the about that? lower could if think fuel maybe you of of mentioned cost,

us the you maintenance. just the cost quarter? Cement, seen of margin outlook rundown then if you kind here nice kind give also there in the could with given But of touched on improvement And on you've a

D. Kesler

solid talked now the into fuel We cost, Yes. some around fuels had good year. that's largely quarters. The or of for we fuel and lower the for we the visibility about purchased remainder costs of use, several committed that it

costs did good projects, pointed those we then and good that and we the And the managing think needed what job ways during you get to a found looking our weather maintenance a this well-chronicled, experienced And of be to were costs, I given and as did really at quarter. done out, needed. of job we done that quarter mentioned projects teams

Trey Grooms

guys all you is to the put maybe for you on Yes. that. quarter improvement, can the up with you nice number give the me Is in ASP? relative Wallboard -- Good as of kind there the a you us sequential then last about and one call. pricing And mentioned the work ending talked that prior had guys for reported

D. Kesler

of benefit consistent but during the quarter pretty March which had average for throughout throughout haven't quarter. consistent the the quarter. was increase, The a pretty We price was the the full quarter, we average March Yes. the seen implemented

Operator

Our from next question comes Stanley from Stifel. Elliott

Stanley Elliott

mentioned in were Nice tough a because playing off, pushed being side a resi extent did less see out. work of end of how operating very projects I guys residential that's financing what terms costs? environment. starting going up curious, you kind in of to I'm little you to out certain guess getting

And builder that then, your ] seeing in about customers markets concerned secondly, the any [ of guess, I were levels you any you operate? inventory of rising

D. Kesler

said it it's relates product. in a to Wallboard always I've particular, as perishable inventory,

see or at distribution the don't either level inventory tremendous you So of level. manufacturer a amount at the

in a store it way. outside can't You meaningful

of South wet comes Texas think of of indoor we've sport. the there's as once than market get more this we we've an Texas, market, especially rain seen, if you and South because the weather that a extreme we amount morning, it delay look, goes. And said I in don't But has faced. -- doubt, that and no think Wallboard into weather rain, So

of factors not build to the supply the construction nicely here So activity. in Interest country, to But there, of low a They've again has over resilient tomorrow that. obviously come of rates down one pretty of but bit last outlook, given terms that again, there's We'll little you lot of support that maybe a the a weeks. of them. what X overall, the residential X level significant. And are continued it's in inventory influence here homes brings. see and tomorrow

Stanley Elliott

the the later one And you on any quarter? was impact in impacting nice. very I on weather. or to Do pricing you the 'XX. maybe we've do more just of pricing of that into what Obviously, early But any of that pressures too in To has extent see it's -- seen guess in think disruptions year I the pricing guess think some sort the weather? about even weather because momentum

D. Kesler

extended rainfall, slow very construction several to with markets a I cetera. mean, no et the got doubt, start off season the in

And continues determined yes, when of the the bit. business little timing go and tight position. and to So that does cycle. a maybe things, scheme a fairly be prices over Cement in cadence in change through, be a grand how But will exactly

Stanley Elliott

balance And then manageable. lastly, I sheet, mean, very

You coming [ in project have Wyoming larger 'XX do up the ].

on of still or ahead plan build You to front that the it. opportunistic the remain Is kind on started even cash the support continue repurchases? to that of M&A share to or

D. Kesler

put Michael so I a we've that think expansion. Cement organic position the and sheet Mountain investments, it make good in position, absolutely. We've that's No, continue well, the -- modernization we with as said can to whether talked about balance

balance of that being the preclude make there. return to continuing continue even us active and from doesn't -- to There's free good flow we the sizable, market. pipeline But and it us though in M&A sheet have doesn't cash preclude is and shareholders investments. to the good it activity to capital a

Stanley Elliott

of and Congrats luck. best

Operator

comes question Thielman next from D.A. from Davidson. Our Brent

Brent Thielman

had I Cement. again question Just on a

any in at increases been price a clarifier. issues? impacted markets those April. just had sort curious, for your by thoughts maybe Just I with increases all calendar price half? for the there. then, I'm Would plans the Craig, weather-related second of of some realization And mean price cement increases you

D. Kesler

No.

even we through. cement I that's as the pricing think had do But second extremely has and faced price wet There part And year. here is we of April forward today. again, extended as for into the Texas hurricane of about they moved May, have increases second the came it sit -- a with in in that out. that weather, here July we round here market But some the expected.

Brent Thielman

Okay. going your you mean, of next about do just years, some a comments follow-up, mix Michael, sort of the the you're just seeing presumably And over the and as in then sort it's of I with and years? some I infrastructure that mean, momentum forward? of your anticipate few market of than sector been sector of more know higher infrastructure towards exposure see skew and sort you -- I we heavily to it of XX%, Do XX%. the coming in as move projects sort

Michael Haack

it. regionally this, items really where these at look you depends It with

it. these As of see as take the give as said I out, those projects the too, in and projects visibility. of we comments, extending -- us we also multiyear kind some opportunistic We're us great we with with when

We that we support. have a customer base

of strong. projects projects pick you And those to great keep and see our as looking demand aspects up, profile certain them

our network, just across as visibility we Cement side multiyears see for a good to So the come. this for of the business

Operator

Our next question Anthony from Citi. comes from Pettinari

Anthony Pettinari

there is year, first the volumes that something tailwind then magnitude volumes, some way not the do about Cement, you weather an On Or that And talk of in calendar to second impacted a very kind year? or that expect? quantify the opportunity really to you customers make of that either the something poor half just industry? Is in maybe up given be maybe the half of for to in is of could the quarter? were of the weather that a your the by

D. Kesler

whether Anthony, ] got to it quantify it's of significant, impact you've little market question, really that. first of to quantify exact No markets [ that start. the a winter your in bit northern weather the last, really market that but is Yes, will certainly the because that terms hard the doubt, was weather to tough had. And to part

going a or your get You overall and if into we can just near were that's to not the this your in the January. winter, South, into think you're more. But they're It canceled, and that out. real you don't means that point can. then be -- have long the fall these December given don't know little you November, But busy just they're winter still pushed as bit is projects delayed, right as you're -- where maybe I

And of busy you'll second be so remains you a be it what should up? half is see. all of that seen, it make year. That but to the Can

Anthony Pettinari

or Got that to exit Was in touch it. similar a ahead cement follow-up. the maybe And your sort was one quarter I rate on prices average or... Got just, of the guess, it. quarter, then

D. Kesler

Yes, pretty with much in average. the line

Operator

next Our comes from Goldman from Sachs. Jerry Revich question

Jerry Revich

strong performance. are ask, the margins from normal the business seasonality I on want Cement up September quarter. Congratulations quarter to is so in about X the your points for June

seasonality, to as about Craig, need we really we And results? so keep strong think that mind that anything this June year, normal to quarter the in relative

D. Kesler

and you maintenance by Sitting that know, here is our spends, Those in today, improvement, see September I the as June margin doesn't driven quite and to don't anything annual happen unique. programs then completed are quarter. are during December heavy the that That mostly quarters. expect

Jerry Revich

Got it.

benefit from other fully the ] all moving the in pieces full the energy results? quarter So June and costs baked [ improved the there strong

D. Kesler

Right.

Jerry Revich

update And X% of years, from selling past X about years? terms you rollovers sequential timing coming give year, up price June this Okay. we've September of that then prices versus the and in given cadence, look are mix September just the sequential volumes couple mix of seen to is over us an you're on part in selling contract the price quarter. over average X of X versus can business? how that the your and versus so points Cement How from the the were rollovers. But here, average contract know I where thinking of to X% move June quarter should

D. Kesler

a Yes, of area, year, bit later the announcements Texas few Jerry, than as point. don't incremental at other in any got little a where we that, markets the for have earlier, price slated But a this out we've given that timing. we've we just got talked increase mostly push this

from see in to more the of quarter. we expect something And like sequential you'd a price here June so saw absent what that, consistent

Jerry Revich

increases in can the to in markets, customers discussions what price of then those wallboard, the going additional are have Cement potential you roll those the you conversations you how talk had range on out just cement ahead as of wonder time increase comes, you terms could color give and both to in just of I price know I can indications about 'XX? particularly future if comment? any that to folks us And Okay. headed, in you're some but of extent

D. Kesler

and calendar to customers hard a That's with having months always timing and go exact it's ahead weeks price next magnitude of Jerry, the certainly Yes. increases. the discussion be few we'll over we of as 'XX. predict

being pretty in So I lead be constrained,for Cement now those reasons cycle much I to if announced. But with as higher will that Wallboard, and prior about climates, the a variety not high in demand, in and expect and have the we've much cycles, businesses, changes to in both the given do on quarters, around increases which we've don't want has different cycle, look, our seen of talked speculate think rates outlooks through supply utilization given to how both when price occurred or just we too should in Michael pricing economic remain for good than see mentioned, this years; industries. both dynamics the and backdrop several

getting specifics us. for And in we so into opportunity timing, that without see continue of just pricing front do to

Operator

Thalhimer comes Our Adam from next from question Davis. Thompson,

Adam Thalhimer

start strong margins. on want I quarter. Congrats on the Wallboard to

XX quarterly something years. Wallboard I that margin the was like think best in

what thoughts are Just are that? curious, what on sustainability? drove your And

D. Kesler

of again, structure did a Yes. maintenance being of that worth really look, our talked like a primary times the materials, or teams managing need our that raw job a are material projects from years about prices reserves did raw lower in, to and for the that, cost the to gas surety gypsum. we've Adam, material raw either supply and well. And synthetic around this Cement fantastic contract positioned, many spend. -- certainly environment as gypsum just assets did They quarter, well we've group natural the the our contributed long been with

years but this hallmark And business a business positioned so now. it's yes, performance, And very for we well. really very, good of been margin many that a that's

Adam Thalhimer

now? did the a jumped capacity it's you think a do is volume a expansion you And annual capacity business, smaller but Paperboard normalized What I Craig, know little And your there. bit.

D. Kesler

fantastic Again, mentioned team tons The that, incrementally output, record that when these always more couple And And the just volume we're is get Yes. see running all have that of mill. many, looking able for we the that. really you annualize a years years very project mill the expansion just to well. of quarter decent that We get been doing starting is is That to improvement. we is continue of through could team to do job. We to -- gone rate. XX,XXX a if you the mill to pretty we've going ago, debottleneck paper the and a ago, taken a many and facilities. acquired run it we've benefit

Operator

Jefferies. Our next Ng comes from Phil from question

Philip Ng

June, I I days. had weather in cleared track a shipping question. June X less has especially How did intra-quarter, July? Cement got volumes know when perhaps out

get I of If infrastructure. of about up per from ] basis, it want just look to little [ it's kind color up? And it a was you since on Volumes how a up outlook and Cement spring. your Are on upbeat half? at a you in kind thinking I you're Michael, think, qualitatively, set wet how there, very the growth volume day certainly the back then was on progressed more volumes put stable. to

D. Kesler

question. Phil, Yes. good

you at I would some actually more last comparison look this up say quarter part issues we're question, do with to and first the had that We your prior around business, year. Texas, our last The that. of year. had of versus year

but did good look the just overall less we for barometer to of is volumes we better days. which issues a X as we've those saw weather have across some with. hard you And weather much at dealt market, the said, in necessarily most month shipping down, the of as that June of the country, So given

meet And the itself, dealt good to And but of the real coming of gauge our that to demand. about network. feel presents with, get do forward an we when inventory the customers' opportunity May needs. in and the we're hard going out you're Cement a as So April we look, view have

Philip Ng

I that there seen we a mean, was earlier pushed recapture you demand. -- Have one and snap to like in of kind back deferred -- your August? I demand and kind think question look to look some catch-up the about of orders customers of thus of out far, of some questions out July as Craig, kind of And

D. Kesler

Yes. to they When as the have see earth push To you the happens. as going work hard they can. extent much you a can, know in that that they're overall delay I weather, do just

up And so of busy I they're the know a gearing for half year. second

Philip Ng

a Okay. margin a both really impressive standpoint, And then quarter, from on Wallboard and Cement.

You guys called on here. and freight. materially unless change out energy good things pretty some sticky, Those feel

Were could think will -- there Wallboard we off trending as other what any about the that rest putting would of because off seasonality? accounting pricing well, just that one-off you should is cadence where the Cement? were year in the this, But for I costs that on roll margin of up, build for how you're imagine based or or

D. Kesler

between ] [ Yes. million some quite these levels gas at been a down, sequentially, $X.X natural $X, it's while down for is time. Look,

there. significant a sequentially, see So I don't change

As quarter. I of will beginning upward some here the September the see mentioned in we OCC prices, tick in the call,

will higher. a up bit little So sequentially, that be

puts So there's concerned. where and margins going to are takes, be some

with to well. business Cement the see we're costs continue very fuel maintenance large the again, through programs. expect we'd low, being In largely business, to And that perform

Philip Ng

correct housing starts around. ] I little commentary ] and The bounced been to little for contingent a last have have completions. Wallboard then one Okay. [ tie But kind of on tends And me outlook if a your more just [ more was rates to terms macro. mean, business the me. one Craig. wrong, I'm choppier, And on

So about Because industry. demand? think how that the should lagging with quarter, you volumes next decent your lagged see Is completions the Wallboard? start we still do

if don't related, helpful. was For any be more but that I [ would Smidge, ] perspective know

D. Kesler

coming we're quarter, to of you as But impact a generally, feel And volatility I we Phil, around trying given, the the the rates about. now down help. from think other said, get environment, lot on factors think talked rates that with guessing demand little a that trend. bit, good volume seemingly some away that of given we've things and the I about the next should

of forecast. exact and tougher. that is But to certainly, than timing gauge last us harder to The the months flows even have always -- through how X X hard to been for it's

Operator

question from comes Tyler Raymond next Brown Our James. from

Patrick Brown

transportation is is largely you think when loosening make I a you mentioned Wallboard. a on I to and it of the certainly on a tightened bit transportation in market was But good cost transportation, environment? market a the way loosening, side little on do get Craig, it's move and tend would truck guy pass-through. the the that other money

D. Kesler

Yes.

freight been change tailwind As and of market. in us, tailwind for be the I that don't last you a a headwind expect or the can adjusts, as certainly a say, And it's to in trucking couple quarters. significantly that

Patrick Brown

assume so curious, just truck rail? you're then the versus And have I'm I mix? helpful. That's it, I Okay. just but is what rail heavy truck to

D. Kesler

rail, rail. pretty the to move inefficient little Yes. Wallboard, on very commodity In

Patrick Brown

it, if a slow Laramie or to, I any to guiding quarter. good curious spent CapEx, in just Just million, the there? under And full you you ] feel color Okay. $XX $XXX allotment [ I'm off then million in think you're million the call is still spending start? about $XXX but

D. Kesler

a strat, Yes, are payments say timing slow made. just I when it's wouldn't of

we mentioned, started Michael have work. to some do As dirt

site will And so the start up that construction part work second here into summer, pick really the of to fall. the

exact still our and expect the see tick as would I to year unfolds. timing we'll up But for now, CapEx and determined. of to starting range that's the that to So see be

Patrick Brown

then What But on a tax was bit. modeling And last a driving the my Was small out And other was couple a just one, corporate of rate accruals? just was then thoughts any guide. Okay. how that? pans SG&A bonus up that for the Good. questions. other the good income The year?

if should a Appreciate it. Just think that curious was that how about Just line? gain? we

D. Kesler

Yes.

for the I'd last range SG&A, to In [ $XX has be or the several of number it, million corporate same see that in ], minus. plus that continue range. quarters, call terms in that to been expect it

think was XQ a little bit I higher. fact, In

that -- for would income, pretty sales, a with. Tax minor third to other to I range the range a the asset -- little things the quarter. and that's for bound. same And here that may a and I bit don't could flows stick But but of it ebbs But in I it predict. expect are rate, part hard level be second So little other second, much it be year, fourth little again, the would to at tick that up continue bit.

Operator

And from our from question Truist. Keith next comes Hughes

Keith Hughes

are back Getting price term? markets getting you like to what prices. the increases but Or you sound earlier, to cadence think the increasing got to a a where back know mentioned you're had cement going year? a of just doesn't like few do it your look think lot. in you is -- I sort medium once you Do

D. Kesler

Yes, hard Keith, I've go timing. There's that that. into predict that a of factors to exact said, always lot it's

couple increases, For seen I'm just season. not a the starts increases, surprised if to given the got frankly we've year March. extended. delayed of normally of last construction limited see of to some second season this But multiple years, start round the in construction

from But of timing. how doesn't or just We seen of year mean goes second unfolds got year the to in and terms this through. doesn't the see remains preclude next -- being increases. X that half year be That to how exact

Operator

the gentlemen, that, for turn and any with session. over Haack to to floor today's be ladies I'd question-and-answer like comments. concluding back we'll And closing Michael

Michael Haack

you, Jamie. Thank

the by their want directly our to quarter. quarter fiscal first through on back year resilience employees conclude our XXXX, for thanking Looking for I

Your set today. our everyone again and once discussing and us consistent to with joining fiscal again steadfast next We start year. Thanks quarter. to forward to standard results help positive results achieve the also call superior us on execution look you industry the focus our operational

Operator

We call thank with and you conference conclude that, today's we'll presentation. for gentlemen, and attending. Ladies

You disconnect lines. may your now

Eagle Materials (EXP) 30 Jul 242025 Q1 Earnings call transcript