Eagle Materials saw earnings skyrocket in its gypsum materials manufacturing division for the second quarter ending Sept. 30, reporting an operating gain of $24.2 million on sales of $96.5 million. The numbers reflect a 33% increase in sales from the year-earlier period to propel the segment's operating income upward from its $1.5 million gain in the second quarter of 2011, riding on increased wallboard prices and sales volumes.
Gypsum wallboard drove the segment's gains, recovering from a year-earlier operating loss of $2.5 million to record a $16.5 million gain on sales of $77.3 million, up one-half for the same period. The average gypsum wallboard net sales price for the period was $119.44 per million square feet, 30% higher than the same period a year earlier. The second-quarter sales volume of 500 million square feet marks a 24% increase for the same period. View the full results.