DUBLIN--(BUSINESS WIRE)--On November 21, 2023, CRH plc announced that it had reached an agreement to acquire an attractive portfolio of cement and readymixed concrete assets in Texas, USA for a total consideration of $2.1 billion. CRH is pleased to announce that the transaction is now complete. About CRH CRH (NYSE: CRH, LSE: CRH) is the leading provider of building materials solutions that build, connect and improve our world. Employing c.75,800 people at c.3,160 operating locations in 29 countries, CRH h ...

DUBLIN--(BUSINESS WIRE)--CRH plc, the leading provider of building materials solutions, today announces the impact of the transition to generally accepted accounting principles in the United States of America (U.S. GAAP) on its results previously prepared in accordance with International Financial Reporting Standards (IFRS) for the financial years ended December 31, 2021 and December 31, 2022. Equivalent transition impact disclosures will be provided for the financial year ended December 31, 2023 on Februa ...

After a somewhat okay 2023, industrial stocks could post more gains. Last year, the Industrial Select Sector SPDR Fund (NYSEARCA:XLI) gained 14%, lagging the S&P 500’s return. Although the sector is fully valued at 19 times the next 12 month’s earnings, there are several tailwinds.So, what are some of these tailwinds? First is reshoring and nearshoring, whereby U.S. companies relocate their manufacturing footprints locally or to Mexico. That addresses geopolitical tensions and the supply chain challenges ex ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use fundamental analysis and traditional valuation metrics to fin ...

Our next question comes from the line of Anthony Pettinari with Citigroup. Anthony Pettinari You gave some helpful commentary on 2024. And I'm just wondering, in Americas Materials, with positives from public spending, but also some questions around residential. Is your expectation that you can grow aggregates volumes in 2024 in Americas Materials? And then maybe a similar question. When you look at your operating rates in cement in Americas, is there room for organic growth in '24, is that your expectation ...

The APMs may not be uniformly defined by all companies and accordingly they may not be directly comparable with similarly titled measures and disclosures by other companies. Certain information presented is derived from amounts calculated in accordance with IFRS but is not itself an expressly permitted GAAP measure. Operating profit is defined as earnings before interest, taxes, profit on disposals and the Group's share of equity accounted investments' profit after tax. Income tax expense - estimated at int ...

CRH 2022 Results Agenda Market Backdrop & Trading Performance Financial Performance & Capital Allocation Sustainability Update Accelerating Integrated Solutions Listing Considerations & Outlook Full Year Results 2022 1 Key Messages • Strong performance … further growth in sales, EBITDA, EPS, cash & returns • Margin expansion despite significant cost inflation • Strongest balance sheet in Group history … optionality for further value creation • FY dividend +5% … announcing $3bn share buyback over next 12 mon ...

Financial Performance - Total sales for 2022 reached $32.7 billion, representing a 12% increase compared to 2021[21] - EBITDA for 2022 was $5.6 billion, up 48% from $3.9 billion in 2021[21] - Operating profit increased by 17% to $3.9 billion in 2022, compared to $3.3 billion in 2021[22][23] - Earnings per share rose to $3.50 in 2022, up from $3.06 in 2021[24] - Dividend per share increased to $1.27 in 2022, compared to $1.21 in 2021[30] - Profit after tax for 2022 was $3.9 billion, up from $2.6 billion in 2021, while EBITDA increased to $5.6 billion from $5.0 billion[165] - Operating cash flow for 2022 was $4.0 billion, compared to $4.2 billion in 2021[165] - The company generated a Return on Net Assets (RONA) of 13.3%, which is an increase of 340 basis points since 2018[63] - The company has 22.8 billion tonnes of reserves and $26.8 billion in net debt, indicating strong resource availability and financial positioning[158] Sustainability Initiatives - The company aims for a 30% reduction in absolute carbon emissions by 2030 from a 2021 base year, aligning with its net-zero ambition by 2050[53] - CRH aims to achieve net-zero emissions by 2050, with a target of a 30% reduction in absolute carbon emissions by 2030[88] - The company is focused on low-carbon materials and has over 100 research and innovation projects underway[43][44] - The company is embedding its Purpose into operational and strategic processes to guide organizational culture[83] - The company is committed to zero harm and continues to invest in safety technologies[85] - The company is working towards delivering its sustainability ambitions by 2050, with a focus on circularity and climate resilience[86] - The company is focused on sustainability, including decarbonization, waste recycling, and water conservation, to enhance resilience and create circular supply chains[144] - The company aims to address global challenges such as decarbonization, waste, and water through its new sustainability framework[186] - Eqiom, part of the Europe Materials Division, is involved in constructing the first carbon-free district in Paris, covering approximately 34,000 m² with up to 80% low-carbon concrete, resulting in CO2 savings of approximately 40% overall[200] Strategic Growth and Innovation - The company has allocated approximately 60% of its capital over the last five years to value-accretive acquisitions and internal growth investments, with around 40% returned to shareholders through dividends and share buybacks[62] - The company spent $3.3 billion on acquisitions in 2022, significantly up from $1.5 billion in 2021, including the $2.0 billion acquisition of Barrette Outdoor Living[109] - CRH launched CRH Ventures and an Innovation Fund in 2022 to support sustainable product development[43] - The company is investing $250 million in a venturing and innovation fund to support the development of new technologies and solutions in North America and Europe[55] - The company is focused on operational and commercial excellence programs to build better businesses globally[60] - The company is expanding and building strength through scale and improving business operations[103] - The company is committed to investing in talent and growing skills to drive business performance[100] - The company is focused on developing innovative solutions to meet customer and community demands for sustainable construction[195] Market Position and Demand - CRH has positioned itself in resilient sectors of the construction market, reducing business cyclicality[50] - The company anticipates resilient demand in North America, supported by strong pricing and government funding initiatives in clean energy and manufacturing[125] - Construction demand is driven by significant infrastructure needs and a resurgence in non-residential demand, particularly in the US, where resilient RMI activity is noted in the Northeast and Midwest[131] - In Europe, resilient RMI demand and sustainable construction are observed, particularly in stable Western Europe, alongside significant new build and residential needs[132] - The global population is projected to grow by approximately 2.5 billion by 2050, increasing demand for infrastructure, residential, and commercial projects[135] - The global economy is forecasted to more than double in size by 2050, continuing to drive investment in infrastructure, residential, and commercial projects[139] Safety and Workforce - There were five reportable fatalities in 2022, involving one employee and four contractors, highlighting the company's commitment to safety initiatives[85] - The company employs approximately 75,800 people, highlighting its significant workforce in the construction materials sector[158] - Approximately 2,789 frontline leaders completed leadership training, with 1,300 leaders participating in development programs[178] - The company is addressing labor shortages and wage inflation by investing in technology and digital solutions, creating significant value[156] Customer Focus and Solutions - The company focuses on delivering integrated end-to-end solutions, enhancing customer relationships and increasing customer spend[163] - The focus on customer connectivity aims to create preferred solutions that exceed customer expectations[100] - The company aims to address evolving customer demands for holistic solutions that reduce costs and complexity while improving environmental performance[142] - CRH's solutions strategy leverages scale and deep customer understanding to provide value-added materials and services[177] Regulatory and Environmental Challenges - Climate change and changing customer preferences are driving demand for critical infrastructure and sustainable materials, influencing CRH's strategic direction[153] - Regulatory changes aimed at decarbonizing the industry are stimulating demand for circularity and sustainable materials[156] - The construction sector accounts for approximately 40% of global carbon emissions, primarily from energy used in buildings and material manufacturing[192] - The company recognizes the need to reduce carbon emissions and manage exposure to climate change impacts while providing sustainable solutions[193]

Report Publication - The 2022 Annual Report has been published on 10th March 2023 and is available on the Company's website[2] - The report has been filed with the US Securities and Exchange Commission, allowing US shareholders to request a hard copy free of charge[3] - The 2022 Annual Report is expected to be posted to shareholders who requested a hard copy on 29 March 2023[7]

There have been no acquisitions completed subsequent to the balance sheet date which would be individually material to the Group, thereby requiring disclosure under either IFRS 3 or IAS 10 Events after the Balance Sheet Date. Development updates, giving details of acquisitions which do not require separate disclosure on the grounds of materiality, are published periodically. | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------|-------|-----------------------|-------- ...