Rock Products

JUN 2019

Rock Products is the aggregates industry's leading source for market analysis and technology solutions, delivering critical content focusing on aggregates-processing equipment; operational efficiencies; management best practices; comprehensive market

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ROCKproducts • June 2019 • 15 IN THE KNOW FAST FACT Cemex's operaƟons in the United States reported net sales of $878 million in the first quarter of 2019, an in- crease of 3% from the same period in 2018. reported net sales of $878 million in the first quarter of 2019, an increase of 3% from the same period in 2018. Operating EBITDA decreased by 1% to $130 million from $131 million in the same quarter of 2018. • Operating earnings before other expenses, net, decreased by 14% in the first quarter, to $294 million. • Controlling interest net income during the quarter was $39 million, from $20 million in the same period of 2018. • Operating EBITDA decreased by 3%, on a like-to-like basis, during the quarter on a year-over-year basis, to $562 million. • Operating EBITDA margin during the quarter decreased to 17.4% from 17.9% in the same period in the previous year. • Free cash flow after maintenance capital expenditures for the quarter was negative $337 million. Fernando A. Gonzalez, chief execu- tive officer of Cemex, said, "We are pleased with the 1% top-line growth we achieved during the first quarter, despite important volume declines in our two most important markets: Mexico and the United States. During the quarter, we enjoyed improved pric- ing performance in all our regions with favorable volume dynamics in Europe. In the United States, ready-mixed and aggregates volumes also grew despite adverse weather in part of our foot- print. In addition, operating cash flow performance was bolstered by the ongoing successful implementation of our A Stronger Cemex initiatives." Eagle Materials Inc. reported financial results for fiscal year 2019 and the fiscal fourth quarter ended March 31. For 2019, the company is reporting: • Revenue of $1.4 billion, flat with the prior year. •  Net earnings per diluted share of $1.47, down 72%. • Adjusted net earnings per share of $5.05. For the fiscal fourth quarter, the com- pany is reporting: • Revenue of $284.7 million, flat with prior year. • Net loss per diluted share of $2.82, down 471%. •  Adjusted net earnings per share of $0.87. Commenting on the financial results, Dave Powers, chief executive officer, said, "In fiscal 2019, our businesses continued to generate strong earn- ings and cashflow, despite challenging weather trends that depressed sales opportunities throughout much of our fiscal year. Importantly, we contin- ued to improve our already low-cost position throughout the year, making meaningful investments to further improve our operational efficiency, while continuing to repurchase shares in line with our capital allocation strat- egy. In fiscal 2019, we purchased more than 3.3 million shares, or 7% of our outstanding shares, and we returned nearly $300 million to shareholders, through a combination of share repur- chases and dividends." Powers continued, "Looking ahead, a strong jobs market, coupled with real wage growth and low interest rates, FAST FACT Revenue in the Heavy Mate- rials sector, which includes Cement, Concrete and Ag- gregates, and joint venture and intersegment cement revenue, declined 1%. Eagle Materials Heavy Materials Business Down

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