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 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.
CRH PLC announced its 2021 Full Year Results, highlighting record sales of $31.0 billion, a 12% increase from 2020, with EBITDA rising 16% to $5.35 billion. The company achieved a 35% increase in EPS, reaching 328.8 cents, and improved its margins despite inflationary pressures. Notably, a $3.8 billion divestment of its Building Envelope business was agreed upon, and $1.5 billion was invested in 20 acquisitions. CRH plans to continue its dividend policy, raising it 5% to 121.0 cents per share, while ongoing share buybacks totaled $0.9 billion in 2021.
CRH plc has announced a binding agreement to divest its Building Envelope business to KPS Capital Partners for an enterprise value of $3.8 billion. The transaction includes $3.45 billion in cash and $0.35 billion in lease liabilities, pending regulatory approvals. This business generated IFRS EBITDA of $337 million and a profit before tax of $210 million in 2020. The proceeds will enhance CRH's capital allocation for value-enhancing expenditures and shareholder returns. Full-year results for 2021 will be disclosed on 3 March 2022.
CRH has confirmed it is actively engaged in discussions regarding the potential sale of its Building Envelope business, responding to recent media speculation. The company has indicated that further updates about this potential divestment will be provided as necessary. This move could impact the company's strategic focus and financial structure in the future.
KPS Capital Partners has signed an agreement to acquire Oldcastle BuildingEnvelope Inc. from CRH for approximately $3.45 billion. The transaction, expected to close in mid-2022, will enhance KPS's portfolio by adding North America's leading manufacturer of architectural hardware and glazing systems. OBE operates 84 facilities and employs over 6,700 people across the U.S. and Canada. Both KPS and OBE management express confidence in the partnership to drive future growth and operational excellence.
CRH's subsidiary, Oldcastle APG, has acquired the recycling and mulch operations of South Jersey Agriculture Products (SJAP) as of December 2021. This strategic acquisition enhances Oldcastle APG's production capacity and reinforces its market share within the Mid-Atlantic region, elevating its lawn and garden category. SJAP's offerings, made entirely from recycled materials, align with sustainability goals by promoting soil health and outdoor aesthetics. This move continues Oldcastle APG's expansion strategy following recent acquisitions aimed at bolstering its landscape materials position.
CRH has completed the latest phase of its share buyback program, returning an additional $0.3 billion to shareholders. From September 30 to December 23, 2021, the company repurchased 5.8 million shares at an average discount of 0.73%. The total cash returned to shareholders since the program began in May 2018 has reached $2.9 billion. A new buyback of up to $300 million will commence on December 24, 2021, concluding by March 30, 2022, aimed at reducing share capital in accordance with company authority.
CRH PLC reported a robust trading update for the nine months ending September 30, 2021, with sales up 11% year-over-year at $22.8 billion and an EBITDA increase of 15% to $3.9 billion. The strong financial performance is attributed to solid demand and effective pricing strategies across key markets, alongside margin expansion. The company anticipates a full-year EBITDA exceeding $5.25 billion and plans further share buybacks, having completed $0.8 billion year-to-date. Positive trends in construction and infrastructure investment bolster CRH's outlook.
On November 3, 2021, CRH company Oldcastle APG announced the acquisition of Pebble Technology International, known for its premium aggregate swimming pool finishes. This strategic acquisition enhances Oldcastle APG's position in the outdoor living category, complementing existing products like Belgard® pavers and MoistureShield™ decking. With a robust history of quality and customer service, PebbleTec reinforces CRH's integrated solutions for architects and builders. The acquisition aligns with Oldcastle APG's growth strategy, continuing its recent trend of expanding through targeted purchases.
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