CRH Public Limited Company - CRH STOCK NEWS

FIDO AI, a software company specializing in AI-led non-revenue water reduction and water data insights, has secured Series B funding led by CRH Ventures, the venture capital unit of CRH. This investment will help FIDO AI scale its business, consolidate its position in the global water management sector, and expand into the smart infrastructure market.

The funding will accelerate FIDO AI's commercial success in global water management and corporate water stewardship, while also pursuing strategic opportunities in adjacent building, equipment, and infrastructure delivery markets. FIDO's unique volumetric AI technology, developed in 2019, has become a leading solution in smart water management, providing data insights on hidden water leaks and broader watershed management.

FIDO Plus, the company's corporate water stewardship model, enables corporations to support the deployment of FIDO's AI on local utility networks, contributing to water availability through watershed replenishment. Microsoft is among the multinational companies using FIDO Plus for their global water stewardship programs.

Sublime Systems, a low-carbon cement technology leader, has secured $75 million in investments from global building materials majors CRH and Holcim. This funding includes equity investments and multi-year pre-paid offtake of Sublime Cement™. The partnerships aim to accelerate the scale-up of Sublime's true-zero cement manufacturing technology.

The investment will fund the construction of Sublime's first commercial facility in Holyoke, Mass, expected to open as early as 2026. This follows an up to $86.9 million investment from the U.S. Department of Energy's Office of Clean Energy Demonstrations. CRH and Holcim will individually collaborate with Sublime to co-develop future true-zero plants in multiple geographies.

Sublime's electrochemical process runs at near-ambient temperature and uses clean electricity and carbon-free inputs to produce reactive cementitious ingredients, avoiding both mineral and fossil fuel emission sources associated with traditional cement production.

CRH plc (NYSE: CRH), the leading provider of building materials solutions, has announced a CEO succession plan. Albert Manifold, the current Chief Executive Officer, will retire at the end of 2024. He will be succeeded by Jim Mintern, the company's current Chief Financial Officer.

Jim Mintern has been with CRH for 22 years and has over 30 years of experience in the building materials industry. He has served in various senior leadership roles and has been a board director since June 2021. Mintern recently led the strategic transition of CRH's primary listing to the New York Stock Exchange.

Albert Manifold, who joined CRH in 1998 and became CEO in January 2014, will step down from the board and relinquish his executive responsibilities on December 31, 2024. He will continue as an advisor to CRH for an additional 12 months.

CRH plc (NYSE: CRH), a leading provider of building materials solutions, has completed the final phase of its European lime divestment. The company announced on November 22, 2023, that it had reached an agreement to divest its lime operations in Europe for a total consideration of approximately $1.1 billion. The third and final phase of the transaction, which included the Group's lime operations in Poland, has now been concluded. This marks the completion of CRH's strategic divestment of its European lime business, aligning with the company's ongoing portfolio optimization efforts.

CRH plc (NYSE: CRH), a leading provider of building materials solutions, has appointed Lauren Schulz as its new Chief Communications Officer (CCO). In this role, Schulz will lead CRH's global communications strategy, brand, and corporate narrative across all markets. She brings over two decades of leadership experience, including a career as a Lieutenant Colonel in the U.S. Marine Corps and expertise in strategic communications and media relations.

Prior to joining CRH, Schulz served as the Head of Global Communications at Verizon Business. CRH's Chief Executive, Albert Manifold, expressed enthusiasm about Schulz's appointment, highlighting her extensive experience and forward-thinking approach to communications. Schulz's appointment is effective immediately.

Oldcastle APG, a CRH Company, proudly announces that Brianne Papa, Regional Sales Director for Barrette Outdoor Living, has been named one of the 2024 HBSDealer Top Women in Hardware and Building Supply. Selected as a Rising Star from over 600 nominations, Papa was recognized for her exemplary leadership and dedication in representing MoistureShield, RDI Railing, and Barrette Outdoor Living brands.

As Regional Sales Director, Papa focuses on building partnerships and understanding clients' unique needs, delivering tailored solutions for outdoor living spaces. Her recognition reflects Oldcastle APG's commitment to customer satisfaction and innovation in the outdoor living industry. Papa and fellow honorees will be formally recognized at an event in Chicago, November 20-21.

CRH plc has filed its Form 10-Q for the quarterly period ended June 30, 2024 with the U.S. Securities and Exchange Commission (SEC). This important financial document, which provides a comprehensive overview of the company's financial performance and position for the second quarter of 2024, is now available for public viewing. Interested parties can access the Form 10-Q through two official channels: the SEC's website at https://www.sec.gov and CRH's own website at https://www.crh.com. This filing is a important source of information for investors and analysts seeking to evaluate CRH's recent financial activities and operational results.

CRH plc (NYSE: CRH), a leading provider of building materials solutions, has completed the latest phase of its share buyback program, returning an additional $0.3 billion to shareholders. Between May 10 and August 7, 2024, 3.8 million ordinary shares were repurchased on the NYSE. This brings the total cash returned to shareholders to $7.9 billion since May 2018.

CRH has also announced a new arrangement with BNP Paribas Securities Corp. to repurchase up to $0.3 billion worth of ordinary shares listed on the NYSE. This new buyback will run from August 8 to November 6, 2024, with a maximum of 55,000,000 shares to be acquired. The purpose is to reduce CRH's share capital, and all repurchased shares will be cancelled.

CRH plc (NYSE: CRH) reported its Q2 2024 results, highlighting a net income increase of 8% to $1.3 billion and an adjusted EBITDA growth of 12% to $2.3 billion. Though total revenues slightly declined by 1% to $9.7 billion, both net income margin and adjusted EBITDA margin improved to 13.6% and 23.4%, respectively.

EPS rose by 16% to $1.89. The company enhanced its guidance for FY24, projecting net income between $3.70 billion and $3.85 billion, and adjusted EBITDA between $6.82 billion and $7.02 billion. CRH also declared a quarterly dividend of $0.35 per share, reflecting a 5% annualized increase.

CRH completed significant acquisitions, including a majority stake in Adbri and several others, totaling $2.6 billion YTD. The company continued its share buyback program, repurchasing $0.9 billion of shares YTD and initiating a new $0.3 billion tranche.

While Americas Materials Solutions saw a 6% revenue increase, Europe faced a decline due to adverse weather and divestitures.