US: Eagle Materials Lowers 2007 Revenue Forecast
2006-09-28 00:00:00
< DIV > DALlas, Dallas, 26, Eagle Materials announced on 26 that the company will reduce its 2007 annual revenue forecast, and the company's stock is expected to fall from the current $4.4- $4.70 per share to $3.8- $4.20 per share. The sharp decline in the U.S. housing construction industry has directly led to a weaker economic environment for gypsum wallboard and related paper, resulting in a reduction in annual revenue. In addition, the company reiterated its guidance for the second quarter of fiscal 2007 ending September 30, 2006, with the company's stock in the range of $1.3 to $1.4 per share.
Eagle Materials, based in Dallas, is one of the leading building materials companies in the United States, producing and selling cement, gypsum wallboard, recycled paperboard, and concrete and aggregate. (Please indicate the source for reprinting by China Cement Net)
Correlation
In the long term, the Portland Cement Association (PCA) has predicted that cement consumption in the United States will increase by 9.7% in 2014 and 2015, reaching 86 million tons in 2014. Cement consumption in the United States is expected to rise by 11% in 2016. PCA also expects cement consumption in the United States to reach 119 million tons by 2018.
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Due to the recovery and expansion of the economy, the industrial infrastructure of the United States has been strengthened, which has led to an increase in domestic product shipments in the United States, but also stimulated product consumption. The Portland Cement Association of America believes that by 2008, the volume of cement in the United States will exceed 117 million tons.
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