Eagle Materials (EXP) stock soared 6.60% during intraday trading on Tuesday, following the release of its fourth-quarter financial results that significantly exceeded analyst expectations.
The construction materials maker reported Q4 earnings per share of $1.91, surpassing both the consensus estimate of $1.54 and the FactSet estimate of $1.57. Revenue for the quarter was $479.1 million, beating the consensus estimate of $451.8 million. The strong performance was primarily driven by higher cement sales volume, supported by public infrastructure and private non-residential construction activity.
Additionally, the company repurchased $71.5 million worth of its shares during the quarter, which contributed to investor optimism. Despite noting some near-term demand uncertainty due to evolving geopolitical and policy conditions, the better-than-expected quarterly results fueled the stock's upward movement.