Crh Plc Stock Price, News & Analysis

CRH has filed its Form 10-Q for the quarterly period ending September 30, 2024 with the U.S. Securities and Exchange Commission (SEC). This document is accessible on the SEC's website and the Company's website. For further details, contact Neil Colgan, Company Secretary, at 00 3531 6344340.

CRH plc has completed its latest share buyback phase, repurchasing 3.4 million NYSE-listed ordinary shares worth $0.3 billion between August and November 2024. The company has returned a total of $8.2 billion to shareholders since May 2018. CRH has now partnered with Mizuho Securities USA to initiate a new buyback phase for up to $0.3 billion worth of NYSE-listed shares, running from November 7, 2024, to February 26, 2025. The program aims to reduce share capital and can acquire up to 50 million ordinary shares. All repurchased shares will be cancelled.

CRH reported strong Q3 2024 results with total revenues of $10.5 billion, up 4% year-over-year, and net income of $1.4 billion, up 5%. Adjusted EBITDA increased 12% to $2.5 billion with margin expansion to 23.3%. The company invested $4.6 billion in acquisitions year-to-date and completed $1.2 billion in divestitures. CRH reaffirmed its FY24 guidance with net income expected between $3.78-$3.85 billion. The company declared a quarterly dividend of $0.35 per share (+5% annualized) and announced a new $0.3 billion share buyback tranche.

CRH has developed a pioneering wind farm to power its Medgidia Cement Plant in Romania, marking the country's first such installation dedicated to a cement facility. The project, which became fully operational after commencing in August 2023, features five turbines with a 30 MW total installed capacity and an estimated annual production of 80 GWh. The wind farm will meet a significant portion of the plant's annual energy needs and reduce Romania's national energy-related CO2 emissions by 40,000 tons. This initiative aligns with CRH's target to reduce absolute carbon emissions by 30% by 2030.

CRH (NYSE: CRH) has scheduled its Q3 2024 financial results announcement for Thursday, November 7, 2024. The results will be released at 2:00 a.m. New York time / 7:00 a.m. Dublin time, with a conference call and webcast presentation following at 8:00 a.m. New York time / 1:00 p.m. Dublin time. The results and presentation materials will be accessible on the company's website, and interested parties can register for the event through www.crh.com/investors.

CRH Ventures, the venture capital unit of CRH, has launched its Sustainable Building Materials accelerator to support innovative startups in the construction technology and climate tech space. The program, open for applications until December 16, aims to identify market-ready products that can lower emissions, reduce waste, and improve energy use in construction.

The accelerator focuses on three key areas: sustainable binder solutions, new materials and applications, and CO2 mineralized materials. Selected startups will benefit from pilot programs, access to CRH's network of 200+ operating companies, and potential investments from CRH Ventures. The initiative aligns with CRH's goal to lead the transition to smarter, more sustainable construction and achieve its 2050 net-zero ambition.

This is CRH Ventures' third accelerator program, following the successful launch of the Roads of the Future and Water Solutions accelerators. The selection process will culminate in a live pitch day in early February 2025 for the most promising 10-12 startups.

FIDO AI, a software company specializing in AI-led non-revenue water reduction and water data insights, has secured Series B funding led by CRH Ventures, the venture capital unit of CRH. This investment will help FIDO AI scale its business, consolidate its position in the global water management sector, and expand into the smart infrastructure market.

The funding will accelerate FIDO AI's commercial success in global water management and corporate water stewardship, while also pursuing strategic opportunities in adjacent building, equipment, and infrastructure delivery markets. FIDO's unique volumetric AI technology, developed in 2019, has become a leading solution in smart water management, providing data insights on hidden water leaks and broader watershed management.

FIDO Plus, the company's corporate water stewardship model, enables corporations to support the deployment of FIDO's AI on local utility networks, contributing to water availability through watershed replenishment. Microsoft is among the multinational companies using FIDO Plus for their global water stewardship programs.

Sublime Systems, a low-carbon cement technology leader, has secured $75 million in investments from global building materials majors CRH and Holcim. This funding includes equity investments and multi-year pre-paid offtake of Sublime Cement™. The partnerships aim to accelerate the scale-up of Sublime's true-zero cement manufacturing technology.

The investment will fund the construction of Sublime's first commercial facility in Holyoke, Mass, expected to open as early as 2026. This follows an up to $86.9 million investment from the U.S. Department of Energy's Office of Clean Energy Demonstrations. CRH and Holcim will individually collaborate with Sublime to co-develop future true-zero plants in multiple geographies.

Sublime's electrochemical process runs at near-ambient temperature and uses clean electricity and carbon-free inputs to produce reactive cementitious ingredients, avoiding both mineral and fossil fuel emission sources associated with traditional cement production.

CRH plc (NYSE: CRH), the leading provider of building materials solutions, has announced a CEO succession plan. Albert Manifold, the current Chief Executive Officer, will retire at the end of 2024. He will be succeeded by Jim Mintern, the company's current Chief Financial Officer.

Jim Mintern has been with CRH for 22 years and has over 30 years of experience in the building materials industry. He has served in various senior leadership roles and has been a board director since June 2021. Mintern recently led the strategic transition of CRH's primary listing to the New York Stock Exchange.

Albert Manifold, who joined CRH in 1998 and became CEO in January 2014, will step down from the board and relinquish his executive responsibilities on December 31, 2024. He will continue as an advisor to CRH for an additional 12 months.