UPDATE: Texas Industries FQ4 Profit Declines 27%
Texas Industries (NYSE: TXI) reported a 27% drop in its fiscal fourth-quarter profit.
Texas Industries's quarterly profit fell to $44.1 million or $1.52 per share, from $60.2 million, or $2.15 per share, in the year-ago period.
Its revenue rose 35% to $213.5 million. However, analysts were expecting earnings of $0.20 per share on revenue of $199.7 million.
Its gross margin narrowed to 13.1% from 14.7%.
Texas Industries shares closed at $64.99 yesterday.
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