Welcome to our dedicated page for CRH Public news (Ticker: CRH), a resource for investors and traders seeking the latest updates and insights on CRH Public stock.
CRH Public Limited Company supplies building materials used in infrastructure and construction projects. Company news commonly covers operating and financial results, annual reporting, proxy materials, and shareholder voting matters, along with capital allocation updates such as ordinary share repurchases.
CRH updates also include capital-structure and listing matters. The company completed the cancellation of its London Stock Exchange listings for ordinary shares and 7% preference shares, and its ordinary shares are now solely listed on the New York Stock Exchange under the ticker CRH.
CRH announced strong financial results for the nine months ended September 30, 2022, with sales of $24.4 billion, up 13% year-over-year. EBITDA rose 14% to $4.2 billion, and the EBITDA margin expanded to 17.1%. Key factors include resilient demand, disciplined cost control, and successful integrated solutions strategy amid inflationary pressures. The company plans to return $1.2 billion to shareholders through a share buyback program and invested $3 billion in acquisitions. Full-year EBITDA guidance is maintained at approximately $5.5 billion, indicating continued growth.
CRH has successfully completed a new phase of its share buyback program, returning $0.3 billion to shareholders, bringing the total returned to $3.8 billion since May 2018. A total of 8.2 million shares were repurchased at an average discount of 0.93% between June 16 and September 19, 2022. A new buyback of up to $300 million will commence on September 20 and end by December 16, 2022, aimed at reducing share capital. The company is committed to conducting buybacks based on capital needs and market conditions.
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.