Eagle Materials Inc. (EXP) has reported a 7.44 percent fall in profit for the quarter ended Mar. 31, 2017. The company has earned $36.25 million, or $0.75 a share in the quarter, compared with $39.16 million, or $0.80 a share for the same period last year.
Revenue during the quarter grew 10.52 percent to $278.66 million from $252.13 million in the previous year period. Gross margin for the quarter contracted 68 basis points over the previous year period to 22.07 percent. Total expenses were 82.04 percent of quarterly revenues, up from 81.36 percent for the same period last year. That has resulted in a contraction of 68 basis points in operating margin to 17.96 percent.
Operating income for the quarter was $50.04 million, compared with $46.98 million in the previous year period.
Debt increases substantially
Eagle Materials Inc. has witnessed an increase in total debt over the last one year. It stood at $686.47 million as on Mar. 31, 2017, up 35.21 percent or $178.75 million from $507.71 million on Mar. 31, 2016. Total debt was 30.55 percent of total assets as on Mar. 31, 2017, compared with 27.03 percent on Mar. 31, 2016. Debt to equity ratio was at 0.57 as on Mar. 31, 2017, up from 0.49 as on Mar. 31, 2016. Interest coverage ratio improved to 7.28 for the quarter from 12.52 for the same period last year.
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