CRH Q1 2024 Earnings Report
Key Takeaways
CRH reported a solid start to the year with a 2% increase in total revenues to $6.5 billion and a 15% increase in Adjusted EBITDA to $445 million. Net income increased to $114 million, and EPS was $0.16. The performance was driven by positive pricing, early-season activity, and favorable weather in key markets.
Performance driven by positive pricing, early-season activity & benign weather in key markets
Integrated solutions strategy delivering further growth in key financial metrics
$2.1bn materials acquisition in Texas complete; $60m run-rate synergies identified
Reaffirming FY24 guidance; Net income $3.55bn to $3.80bn; Adjusted EBITDA* $6.55bn to $6.85bn
CRH
CRH
Forward Guidance
CRH reaffirmed its previous guidance for 2024, expecting a favorable market backdrop and continued positive pricing momentum.
Positive Outlook
- Favorable market backdrop expected in 2024.
- Continued positive pricing momentum anticipated.
- North America operations expected to benefit from significant infrastructure activity.
- Increased investment in key non-residential segments expected in North America.
- Good underlying demand in infrastructure and key non-residential markets expected in Europe.
Challenges Ahead
- Residential construction, particularly new-build activity, is expected to remain subdued across markets in the near-term.
- Potential for changes in interest rates.
- Inflation.
- Price volatility.
- Labor and materials shortages.