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 PLC reported strong first-half results for 2022, achieving $15.0 billion in sales, up 14% from the previous year, and $2.2 billion in EBITDA, reflecting a 21% increase. The EBITDA margin reached 14.7%, marking a 90bps improvement. Notably, the company's interim dividend increased by 4%, accompanied by ongoing share buybacks. With year-to-date acquisition spend at $2.8 billion and a disciplined approach to divestments, CRH remains well-positioned for future growth despite ongoing inflationary challenges.
CRH Company’s Oldcastle APG has acquired Barrette Outdoor Living, a prominent North American manufacturer of fencing and railing products. This strategic acquisition aims to enhance Oldcastle APG's offerings, providing retailers and consumers with a wider range of sustainable outdoor solutions. Barrette, established in 1975, operates multiple manufacturing and distribution sites across the U.S. and Canada. Both companies anticipate that the integration will strengthen their market positions and expand architectural solutions, as they complement each other's product lines.
CRH plc has successfully completed its acquisition of Barrette Outdoor Living, Inc., a leading provider of residential fencing and railing solutions, for an enterprise value of $1.9 billion. This strategic acquisition is expected to bolster CRH's presence in the North American market, enhancing its range of integrated building materials. CRH operates in 28 countries and employs approximately 73,000 people, making it the largest building materials business in North America and Europe.
CRH plc has completed a significant phase of its share buyback program, returning an additional $0.3 billion to shareholders. From March 17 to June 15, 2022, 7.6 million ordinary shares were repurchased at an average discount of 1.63%. This brings the total cash returned since May 2018 to $3.5 billion. A new buyback of up to $300 million will begin today and end by September 30, 2022, with the aim to reduce share capital. Shares will be repurchased on Euronext Dublin under specific guidelines.
CRH plc has agreed to acquire Barrette Outdoor Living, Inc. for an enterprise value of $1.9 billion, reflecting a multiple of approximately 10x EBITDA pre-synergies. The acquisition is part of CRH's strategy to enhance its portfolio following the divestment of its Building Envelope business. Barrette reported a profit before tax of $79 million and gross assets of $1.2 billion for the year ending January 2022. The transaction will be funded by existing resources and is expected to close in the second half of 2022, pending regulatory approval.
CRH has successfully completed the divestment of its Building Envelope business, previously announced on February 28, 2022, with an enterprise value of $3.8 billion. This divestment is part of CRH's strategy to streamline operations and enhance its focus on core areas within the building materials sector. The completion of this transaction is expected to strengthen CRH's financial position and allow for reinvestment into high-growth opportunities across its remaining business segments.
Oldcastle Infrastructure, a CRH company, announced the acquisition of three reinforced concrete pipe and box culvert plants in Texas from The Quikrete Companies. This strategic move enhances Oldcastle's capabilities in the water market, allowing it to offer comprehensive solutions to customers. President Jason Jackson emphasized the benefits of an integrated model for customer service. This acquisition aligns with CRH's position as a leading building materials business, further strengthening its operational footprint in North America.
CRH PLC reports a positive start to 2022, with Q1 sales, EBITDA, and margin exceeding last year's figures. Key highlights include a 13% increase in Americas Materials sales and a robust pipeline of acquisition opportunities totaling $0.6 billion year-to-date. The company's share buyback program is ongoing, with $0.6 billion expected to be completed by June 2022. The outlook for H1 anticipates strong performance, driven by favorable demand and effective execution of their integrated solutions strategy.
CRH plc has completed the latest phase of its share buyback program, returning $0.3 billion to shareholders, bringing the total to $3.2 billion since May 2018. A further buyback of up to $300 million will commence on March 17, 2022, lasting until June 27, 2022. This buyback aims to reduce the share capital by repurchasing a maximum of 45 million ordinary shares on Euronext Dublin. The program aligns with capital needs assessments and market conditions, ensuring compliance with regulatory requirements.
CRH plc has published its 2021 Annual Report and Form 20-F as of March 11, 2022. This report, alongside the Notice of the 2022 Annual General Meeting and Form of Proxy, is now accessible on the company's website. The documents, which comply with ESEF standards, are also filed with Euronext Dublin and the U.K. National Storage Mechanism. Shareholders can request hard copies, expected to be sent out by March 30, 2022. Additionally, the report has been filed with the U.S. Securities and Exchange Commission.
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