Eagle Materials's Stock Falls After Q4 Profit Falls

(RTTNews) - Shares of Eagle Materials Inc. (EXP) are dropping over 7 percent on Tuesday morning after the announcement of decrease in fourth-quarter earnings due to adverse weather conditions and increased maintenance costs.

Profit declined to $77.09 million or $2.24 per share from $100.36 million or $2.79 per share last year.

On average, analysts polled by Thomson Reuters expected the company to earn $2.69 per share. Analysts' estimates usually exclude special items.

However, revenue for the period increased to $476.71 million from $470.13 million a year ago.

Currently, Eagle Materials's stock is falling 7.34 percent, to $238.11 over the previous close of $256.97. It has traded between $145.03 and $276.61 over the last one year on the New York Stock Exchange.