Weak oil and gas market pulls Eagle Materials' Q4 earnings down 12%

By Kasia Patel
Published: Monday, 01 February 2016

Reflecting similar declines for other North American suppliers to the oil and gas sector, Eagle Materials saw earnings and revenue decline in the fourth quarter of 2015, as a slowdown in drilling activity resulted in lower demand for proppants and well cement.

US-headquartered Eagle Materials Inc. has reported a 12% decrease in net earnings for the quarter ended 31 December 2015, due to lower demand for oil well cement and proppants as a result of the downturn in the oil and gas sector.

Net earnings totalled $45.8m for the quarter, while revenue...

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