EXP - Eagle Materials Inc. (EXP) Q3 2024 Earnings Call Transcript
2024-01-25 11:58:04 ET
Eagle Materials Inc. (EXP)
Q3 2024 Earnings Conference Call
January 25, 2024 08:30 AM ET
Company Participants
Michael Haack - President & Chief Executive Officer
Craig Kesler - Chief Financial Officer
Conference Call Participants
Trey Grooms - Stephens
Anthony Pettinari - Citi
Jatin Khanna - Goldman Sachs
Kevin Gainey - Thompson Davis
Phil Ng - Jefferies
Keith Hughes - Truist
Presentation
Operator
Good day, everyone, and welcome to Eagle Materials' Third Quarter of Fiscal 2024 Earnings Conference Call. This call is being recorded. At this time I would like to turn the call over to Eagle's President and Chief Executive Officer Mr. Michael Haack. Mr. Haack, please go ahead, sir.
Michael Haack
Thank you. Good morning. Welcome to Eagle Materials Conference Call for our Third Quarter of Fiscal Year 2024. This is Michael Haack. Joining me today are Craig Kesler, our Chief Financial Officer; and Alex Haddock Vice President of Investor Relations Strategy and Corporate Development. There will be a slide presentation made in connection with this call. To access it please go to eaglematerials.com and click on the link to the Webcast. While you're accessing the slides, please note that the first slide covers our cautionary disclosure regarding forward-looking statements made during this call. These statements are subject to risks and uncertainties that could cause results to differ from those discussed during the call. For further information, please refer to this disclosure, which is also included at the end of our Press Release.
Let me start out by saying that I'm excited to report on another quarter of superior execution at Eagle Materials. A few financial results that I want to highlight from our third quarter are record revenue of $559 million, up 9%. Gross profit margin increased 130 basis points to 32.3%. Adjusted EPS was up 16% to $3.72 and we returned $106 million to shareholders through stock repurchases and the quarterly dividend.
These results would not be attainable without the over 2,600 fantastic employees at Eagle Materials that make the company successful through their safe, hard work and dedication to customer satisfaction. Each of you contributes to the results I'm proud to report on. Thank you.
Because of these impressive results, Eagle Materials continued to produce strong cash flows. Over the years, we have been very clear as to how we will use the free cash flow generated from our operations. Our investment priorities have been consistent for years and will continue to remain so. They consist of three main components. First is to maintain or widen our low-cost producer strategy by keeping our facilities in like new condition....
Eagle Materials Inc. (EXP) Q3 2024 Earnings Call Transcript