Eagle Materials Inc (EXP)

[Democritus_of_Abdera]

EXP’s Q3 Conference Call is on Thursday February 1, 2007 at 1000h Eastern Daylight time.

The Q3 conference call will reveal if there is continued strength in EXP’s wallboard revenues in face of the current slowdown in housing construction.

Wallboard accounted for 54% of EXP revenues in Q2. Last quarter Eagle’s year over year wallboard revenues increased 18%. These results were despite an 8% decline in wallboard sales volumes.

Based upon the Q2 presentation, I anticipate a decline in average wallboard pricing from $171/MSF in the second quarter to the mid $160/MSF range in the third quarter. This would still be above the $144/MSF average of the third quarter last year.

The key metrics from last quarter are shown in the following three slides obtained from EXP’s website (i.e. Webcasts & Presentations, Archive, Q2 Earnings Release, printable slides).