Welcome to our dedicated page for Crh Plc news (Ticker: CRH), a resource for investors and traders seeking the latest updates and insights on Crh Plc stock.
CRH plc (NYSE: CRH) generates a steady flow of news related to its role as a global provider of building materials and infrastructure solutions. Company announcements emphasize its position as the leading provider of building materials critical to modernizing infrastructure, with market leadership in North America and Europe and membership in the S&P 500 Index.
News items for CRH often cover quarterly and annual financial results, including updates on revenues, net income, margins and non-GAAP measures such as Adjusted EBITDA. These releases are typically accompanied by conference call and webcast details, as well as references to the companys Form 10-Q and other SEC filings that provide more detailed segment and financial information.
CRHs news flow also includes updates on capital allocation, such as dividend declarations and share buyback activity. The company has highlighted a multi-decade track record of consistent dividend payments since its formation in 1970 and has announced ongoing share repurchase programs, including new buyback tranches conducted through arrangements with financial institutions.
Strategic developments and acquisitions are another recurring theme. CRH has announced acquisitions in aggregates and other building materials businesses, as well as agreements to acquire companies such as Eco Material Technologies, subject to regulatory approvals and customary closing conditions. Through CRH Ventures, the company also reports on venture investments in ConTech and ClimateTech start-ups, including partnerships with firms providing AI-powered pavement condition assessment and roadway asset digitization.
Investors and observers can expect CRH news to feature infrastructure-focused growth initiatives, Investor Day presentations outlining multi-year financial targets, debt offerings and financing activities, and updates from related businesses such as Oldcastle APG and its portfolio of outdoor living brands. This news page provides a centralized view of these developments for those tracking CRHs strategy, financial performance and role in global infrastructure and construction markets.
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.
CRH plc has appointed Mr. Badar Khan as a non-executive Director, effective October 27, 2021. Mr. Khan, holding dual British and US citizenship, is currently the President of National Grid US and has extensive experience in capital-intensive industries, particularly regarding climate change solutions. His background includes significant roles at National Grid and Centrica plc. The Chairman of CRH, Richie Boucher, expressed optimism about Mr. Khan's contributions to the Board, emphasizing his deep knowledge of the North American business and regulatory environment.
Oldcastle Infrastructure, a CRH Company, has acquired National Pipe & Plastics, enhancing its PVC pipe offerings. National, headquartered in Endicott, New York, has over 50 years of expertise in providing solutions for potable water, wastewater, electrical conduit, and drainage markets. This acquisition allows Oldcastle to deliver integrated solutions across critical utility infrastructures. With growing demand for PVC due to its sustainability benefits, the strategic move aims to strengthen market position and customer value.