Eagle Materials’ earnings rise by 26% as it expands proppants business
Published: Wednesday, 29 October 2014
Oilfield minerals yielded the slimmest profits of Eagle Materials’ three business segments during the three months to 30 September, but the company has identified this area as a target for expansion having opened a new mine in Illinois and acquired another frac sand company during the quarter.
Eagle Materials Inc., the Texas,
US-based proppants and gypsum producer,
has reported a 26% rise in September quarter net earnings
year-on-year to $50.3m, thanks to higher sales volumes and
prices across almost all of its businesses.
The New York-listed company, which also produces cement and
aggregates, reported record revenues...