<SEC-DOCUMENT>0001193125-23-071383.txt : 20230419
<SEC-HEADER>0001193125-23-071383.hdr.sgml : 20230419
<ACCEPTANCE-DATETIME>20230315163149
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ACCESSION NUMBER:		0001193125-23-071383
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20230315

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EAGLE MATERIALS INC
		CENTRAL INDEX KEY:			0000918646
		STANDARD INDUSTRIAL CLASSIFICATION:	CEMENT, HYDRAULIC [3241]
		IRS NUMBER:				752520779
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		5960 BERKSHIRE LANE
		STREET 2:		SUITE 900
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75225
		BUSINESS PHONE:		214-432-2000

	MAIL ADDRESS:	
		STREET 1:		5960 BERKSHIRE LANE
		STREET 2:		SUITE 900
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75225

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CENTEX CONSTRUCTION PRODUCTS INC
		DATE OF NAME CHANGE:	19940204
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<TYPE>CORRESP
<SEQUENCE>1
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>VIA EDGAR </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">March&nbsp;15, 2023 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporate Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office of Manufacturing </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, NE </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549-7010 </P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="5%" VALIGN="top" ALIGN="left">Attention:&nbsp;&nbsp;&nbsp;&nbsp;Eiko</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Yaoita Pyles </P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&nbsp;Melissa Gilmore </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">RE:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Eagle Materials Inc. </P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Form <FONT STYLE="white-space:nowrap">10-K</FONT> for Fiscal Year Ended March&nbsp;31, 2022 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Filed May&nbsp;20, 2022 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">File <FONT
STYLE="white-space:nowrap">No.&nbsp;001-12984</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On behalf of Eagle Materials Inc. (the &#147;Company&#148;), this letter responds to the comment from the staff of the Division of Corporate Finance of the
Securities and Exchange Commission (the &#147;Staff&#148;) contained in your letter dated March&nbsp;6, 2023 in connection with your review of the Eagle Materials Inc. Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the fiscal year ended
March&nbsp;31, 2022. For your convenience, we have reproduced the Staff&#146;s comment below and then set forth our response. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Form <FONT
STYLE="white-space:nowrap">10-K</FONT> for the Fiscal Year Ended March&nbsp;31, 2022 </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Management Discussion and Analysis of Financial
Condition and Results of Operations Fiscal Year 2022 vs Fiscal Year 2021 Results by Segment, page 43 </U></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><I>1.</I></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note that you present net revenue for certain of your segments, which excludes freight and delivery costs
billed to customers. This appears to be a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure that would be considered individually tailored and have the effect of changing the recognition and measurement principles applied in accordance with
GAAP. Please explain to us how you considered Question 100.04 of the <FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Financial Measures Compliance and Disclosure Interpretations.</I> </P></TD></TR></TABLE>
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<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporate Finance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">March&nbsp;15, 2023 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page 2 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Company Response</U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In the tables summarizing the results of operations of certain of its segments, the Company has historically included a line item labeled net
revenue, which represents the mathematical result of subtracting freight and delivery costs from gross revenue, as reported. The intent of this presentation has not been to change the recognition and measurement principles applied in accordance with
GAAP or to substitute an individually tailored <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure for the appropriate GAAP measure. In fact, our presentation has always shown the appropriate GAAP measure in a line item appearing above net
revenue. Moreover, the narrative discussion of segment results that follows the tables has focused solely on the GAAP measure, and has not mentioned or discussed changes in net revenue or the reasons for the same. We believe this information is
helpful in understanding the nature of our sales arrangements with customers in each segment, and we do not believe it is misleading, particularly given the context in which it is presented. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Nevertheless, in light of the Staff&#146;s comment, in future filings, the Company will no longer disclose net revenue for any of its segments.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If you have any questions or further comments, please contact me by email at ckesler@eaglematerials.com, or by phone at (214) <FONT
STYLE="white-space:nowrap">432-2013.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Very truly yours, </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">/s/ D. Craig Kesler </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">D. Craig Kesler </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">cc:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Michael Haack </P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Matt Newby </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">William R. Devlin
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