Welcome to our dedicated page for CRH Public Company news (Ticker: CRH), a resource for investors and traders seeking the latest updates and insights on CRH Public Company stock.
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.
CRH reported a strong start to 2023 with first-quarter sales and EBITDA exceeding 2022 results. Sales in the Americas Materials Solutions segment rose by 10%, while Americas Building Solutions saw a 22% increase. Despite adverse weather conditions, the company benefited from an integrated solutions strategy and robust pricing. Year-to-date acquisitions totaled $0.2 billion and the share buyback program is set to return $3 billion to shareholders. The company aims for a primary listing in the US, with an Extraordinary General Meeting scheduled for June 8, 2023. First-half sales, EBITDA, and margin are expected to outperform the previous year, bolstered by strong demand for infrastructure and other segments.
CRH plc, a global leader in building materials, has initiated a new organizational structure effective from January 1, 2023. This transition aims to streamline operations across its diverse segments. The restated segment information has been made available for stakeholders to review, reflecting the comprehensive changes in the company’s operational framework. CRH continues to hold a strong position in both North America and Europe, employing approximately 75,800 people across 3,160 locations in 29 countries. The company is also a notable member of indexes like the FTSE 100 and the Dow Jones Sustainability Index. For further details, stakeholders can refer to the full report on CRH's official website.
CRH plc has successfully completed another phase of its share buyback program, returning an additional $0.3 billion to shareholders. From December 19, 2022 to March 30, 2023, 5.9 million ordinary shares were repurchased, totaling $4.3 billion since the program began in May 2018. Furthermore, CRH has initiated a $750 million buyback with UBS to repurchase up to 50 million shares between March 31, 2023, and June 29, 2023. This buyback aims to reduce share capital and is part of a broader $3 billion buyback program announced earlier. All transactions will comply with relevant regulations.
CRH plc has published the Notice of its 2023 Annual General Meeting (AGM) along with the Form of Proxy, which are available on its official website. The documents have been submitted to the U.K. National Storage Mechanism and Euronext Dublin for public inspection. They are expected to be mailed to shareholders on March 29, 2023. Shareholders can access these documents online via links provided in the release. For any inquiries, Neil Colgan, the Company Secretary, can be contacted directly.
CRH plc released its 2022 Annual Report on March 10, 2023, now available in both ESEF compliant and PDF formats on its website. The report outlines the company's performance and financials for the year. Additionally, it has been submitted to Euronext Dublin and the UK National Storage Mechanism, with hard copies for shareholders expected to be mailed by March 29, 2023. The report has also been filed with the US Securities and Exchange Commission, allowing US shareholders to request a free hard copy.
CRH plc has successfully completed another phase of its share buyback program, returning an additional $0.3 billion to shareholders. From September 20 to December 16, 2022, 7.7 million shares were repurchased at an average discount of 1.20%. The total cash returned to shareholders since the program's launch in May 2018 has reached $4.1 billion. CRH has also appointed BofA Securities to manage a new buyback of up to $300 million, commencing December 19, 2022, with completion expected by March 30, 2023.
CRH plc announces the establishment of CRH Ventures, its new venture capital unit, aimed at fostering innovation within the construction sector. With a fund of $250 million, CRH Ventures will invest in companies advancing sustainable building products and technologies, enhancing automation, and improving market efficiency. CEO Albert Manifold highlighted that this initiative emphasizes CRH's commitment to supporting startups and driving the industry towards safer and more sustainable construction practices. CRH Ventures is already pursuing partnerships in digitalization and decarbonization.
CRH announced strong financial results for the nine months ended September 30, 2022, with sales of $24.4 billion, up 13% year-over-year. EBITDA rose 14% to $4.2 billion, and the EBITDA margin expanded to 17.1%. Key factors include resilient demand, disciplined cost control, and successful integrated solutions strategy amid inflationary pressures. The company plans to return $1.2 billion to shareholders through a share buyback program and invested $3 billion in acquisitions. Full-year EBITDA guidance is maintained at approximately $5.5 billion, indicating continued growth.
CRH has successfully completed a new phase of its share buyback program, returning $0.3 billion to shareholders, bringing the total returned to $3.8 billion since May 2018. A total of 8.2 million shares were repurchased at an average discount of 0.93% between June 16 and September 19, 2022. A new buyback of up to $300 million will commence on September 20 and end by December 16, 2022, aimed at reducing share capital. The company is committed to conducting buybacks based on capital needs and market conditions.
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