Eagle Materials, Inc. (NYSE:EXP) Q2 2024 Results Conference Call October 26, 2023 9:00 AM ET

Company Participants

Michael Haack - President & CEO

Craig Kesler - CFO

Alex Haddock - Vice President of Investor Relations, Strategy and Corporate Development

Conference Call Participants

Trey Grooms - Stephens

Stanley Elliott - Stifel

Brent Thielman - D.A. Davidson

Anthony Pettinari - Citi

Jatin Khanna - Goldman Sachs

Adam Thalhimer - Thompson, Davis

Operator

Good day, everyone, and welcome to Eagle Materials Second 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, MJ. Good morning. Welcome to Eagle Materials conference call for our second 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 off by saying that I'm excited to highlight another quarter of record operating and financial performance for Eagle Materials. In the second quarter of fiscal 2024, Eagle generated record revenue of $622 million, up 3%. Eagle expanded gross margins to 33.6%, up 150 basis points, and we achieved record net earnings per diluted share of $4.26, up 15%.

A key reason for our superior margin performance is our commitment to our long-term sustainability of our plants, our businesses and our employees. On the employee front, I want to highlight an event that we conducted this past quarter, one that I always look forward to attending and participating in. Our Seventh Annual Health, Safety and Environment Conference. This conference brings together our operations and HSE leaders from across all of Eagle. We have an open and honest discussion about where Eagle is currently and where we will be going with regards to HSE.