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