Followers | 8 |
Posts | 744 |
Boards Moderated | 0 |
Alias Born | 07/16/2006 |
Wednesday, May 07, 2008 8:42:59 PM
EXP’s average net sales price for gypsum wallboard of $92.42/MSF in Q4 2008 was 35% less than the $142.39/MSF for the same quarter last year (per 8-K filed 5/6/2008). ..David Sachs of Trident Capital (I think) guessed that the average industry cost for wallboard is in the $110-120 range during the question and answer session.
One of the things that I like about EXP is that it is a low cost producer. It is remarkable that they are making money in this dismal market, largely from the cement side of the business (i.e. $0.07/share in this past quarter vs. $0.76/share in the same quarter last year). Even EXP’s Wallboard division is breaking even at today’s prices. ...And, EXP continues to actively lower its break-even point. During the last quarter they finished construction of the Georgetown Wallboard plant which will reduce their average wallboard costs. They reconfigured their Illinois Cement facility to process lower cost petroleum coal in the calciner. These changes should lead to increased profitability even on a modest uptick in the construction and housing markets.
EXP has paused its aggressive share buyback program to conserve cash for additional capital investments (primarily to enhance their Nevada and Mountain Cement facilities). In the first three quarters of FY2008, they had purchased 4.8M shares (10% of outstanding); no substantial repurchasing was done in the 4th quarter. EXP has board authorization to purchase an additional 0.7M shares should the cash flow become more certain. They expect FY2009 Capex to be about $115M, primarily for the Nevada plant with an 18-24 month build out. The Mountain Cement Capex will probably startup in FY2010. FY2008 Capex was $96.9M and FY2007 Capex was $152.1. So, the anticipated Capex expenses are nothing out of the ordinary.
Recent EXP News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/19/2024 08:35:30 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/17/2024 09:16:36 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/09/2024 08:06:36 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/07/2024 08:30:32 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 08/07/2024 08:14:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/05/2024 08:45:55 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/05/2024 08:44:04 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/05/2024 08:42:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/05/2024 08:41:17 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/05/2024 08:39:50 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/05/2024 08:38:41 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/05/2024 08:36:53 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/05/2024 08:35:28 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/05/2024 08:33:09 PM
- Eagle Materials Declares Quarterly Dividend • Business Wire • 08/05/2024 08:15:00 PM
- Form 144/A - Report of proposed sale of securities: [Amend] • Edgar (US Regulatory) • 08/02/2024 09:15:34 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/02/2024 08:19:32 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/02/2024 08:14:55 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/31/2024 08:02:59 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/31/2024 07:59:26 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/30/2024 08:51:46 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/30/2024 10:45:30 AM
- Eagle Materials Reports Record First Quarter Results With 16% EPS Growth • Business Wire • 07/30/2024 10:30:00 AM
- Eagle Materials Schedules First Quarter Fiscal 2025 Earnings Release and Conference Call with Senior Management • Business Wire • 07/17/2024 08:15:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/17/2024 08:10:04 PM
FEATURED Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • Sep 24, 2024 8:50 AM
FEATURED Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM