Eagle Materials’ earnings rise by 26% as it expands proppants business

By Laura Syrett
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...

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