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CRH Public Limited Company (CRH) is a diversified building materials business headquartered in Dublin, Ireland. The company manufactures and supplies a wide range of products for the construction industry, including aggregates, cement, asphalt, and other building materials. CRH operates a vertically integrated business model, ensuring control over every stage of the production process, from raw material extraction to the delivery of finished products.
Over the past decade, CRH has transformed into a leading player in the building materials sector, with a significant focus on upstream activities such as aggregates and cement. North America represents CRH's largest market, accounting for 75% of its EBITDA. In fact, CRH is the largest producer of aggregates and asphalt in the United States.
CRH's recent achievements include the publication of its Annual Report for the fiscal year ending December 31, 2023, which is available on the company's website and the U.K. National Storage Mechanism. The company also filed its quarterly Form 10-Q for the period ending March 31, 2024, with the U.S. Securities and Exchange Commission.
The company's strong financial health is evidenced by consistent revenue growth and strategic partnerships that enhance its market position. CRH's commitment to sustainability and innovation further cements its role as a critical supplier in the construction industry.
For more updates, shareholders are encouraged to visit the official CRH website or contact the Company Secretary for specific queries.
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.
CRH plc (NYSE: CRH), a leading provider of building materials solutions, has announced the date for its Q2 2024 financial results release and conference call. The company will publish its results on Thursday, August 8, 2024 at 2:00 a.m. New York time / 7:00 a.m. Dublin time. This will be followed by a conference call and webcast presentation at 8:00 a.m. New York time / 1:00 p.m. Dublin time.
Investors and the public can access the results and related presentation on the company's website at www.crh.com/investors/results-presentations. Registration for the event is available at www.crh.com/investors, where participants will receive a link to join the call and dial-in details. A replay of the webcast will be made available on the CRH website for those unable to attend the live event.
CRH has acquired Ary , a leading building materials provider based in Canon City, Colorado. This acquisition expands CRH's Americas Materials Solutions business in Colorado and surrounding states. Key highlights include:
- Addition of 25+ sand and gravel locations
- Acquisition of 5 fixed and 2 portable asphalt plants
- Integration of 9 ready mixed concrete plants
- Expansion of paving and construction services
The acquisition strengthens CRH's position as North America's leading integrated supplier of aggregates, asphalt, ready mixed concrete, and construction services, enhancing its ability to provide integrated solutions to customers in the region.
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