CRH Plc Reports Strong Q3 Results

Investing.com — Shares of CRH Plc (LON:CRH) (NYSE:CRH) rose on Thursday after it reported strong Q3 results, despite a challenging market for construction and materials firms.

CRH reported positive performance with EBITDA growth of 12%, rising to $2.454 billion. This growth was driven by asset gains and cost-management efforts amid industry-wide declines.

Despite unfavorable weather affecting parts of the Americas, CRH projected a 10% organic EBITDA growth for the full year, thanks to strong materials sales in the U.S. and Europe.

UBS highlights that CRH’s improved earnings guidance distinguishes it from other industry players, many of whom are revising their expectations downward.

The company’s consistent performance stems from a balanced approach to expansion and asset management, complemented by recent acquisitions contributing an additional $250 million to projected EBITDA for 2025.

Furthermore, CRH upheld a steady dividend policy, announced another share buyback, and has guided for further improvements into 2025, which UBS believes will maintain investor interest.

Although CRH's Q3 2024 EPS of $1.97 slightly missed consensus estimates due to a temporary tax rate increase, the stock's outlook remains strong due to sustained demand and stable pricing in the U.S. market, contributing over 70% of CRH’s EBITDA.