Moody's Assigns 'Ba1 Rating to Eagle Materials (EXP)
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Eagle Materials Announces Commencement of Public Offering of $300 Million of Senior Notes
July 25, 2016 8:52 AM EDTDALLAS--(BUSINESS WIRE)-- Eagle Materials Inc. (NYSE: EXP) announced today a registered public offering, subject to market and other conditions, of $300 million aggregate principal amount of senior notes due 2026 (the Notes). The interest rate and other terms of the Notes will be determined at pricing.
The Notes will initially be guaranteed by each of Eagles majority-owned subsidiaries. Eagle intends to use the net proceeds from the offering, after underwriting discounts and estimated offering expenses, to repay approximately $295 million of borrowings under its revolving credit facility and to pay certain fees relating to such repayment.... More
Eagle Materials Reports First Quarter EPS up 24% on Record Revenues
July 25, 2016 6:00 AM EDTDALLAS--(BUSINESS WIRE)-- Eagle Materials Inc. (NYSE: EXP) today reported financial results for the first quarter of fiscal 2017 ended June 30, 2016. Notable items for the quarter include (all comparisons, unless otherwise noted, are with the prior years first quarter):
Company First Quarter Results
Record revenues of $297.5 million, up 4% Earnings before interest and income taxes of $71.2 million, up 18% Net Earnings of $45.3 million, up 20% Net earnings per diluted share of $0.93, up 24%Other Highlights
Eagle repurchased 525,000... More