Eagle Materials Inc., Dallas, has announced that it is lowering its annual earnings guidance for 2007 to $3.80-$4.20 per diluted share from $4.40-$4.70 per diluted share.
The reduction in annual earnings is primarily attributed to the accelerated decline in housing starts, which has led to weakened business conditions in its gypsum wallboard and associated paper business, according to a news release from Eagle Materials.
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