Crh Plc Stock Price, News & Analysis

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.

CRH plc has completed the latest phase of its share buyback program, returning $0.3 billion to shareholders, bringing the total to $3.2 billion since May 2018. A further buyback of up to $300 million will commence on March 17, 2022, lasting until June 27, 2022. This buyback aims to reduce the share capital by repurchasing a maximum of 45 million ordinary shares on Euronext Dublin. The program aligns with capital needs assessments and market conditions, ensuring compliance with regulatory requirements.

CRH plc has published its 2021 Annual Report and Form 20-F as of March 11, 2022. This report, alongside the Notice of the 2022 Annual General Meeting and Form of Proxy, is now accessible on the company's website. The documents, which comply with ESEF standards, are also filed with Euronext Dublin and the U.K. National Storage Mechanism. Shareholders can request hard copies, expected to be sent out by March 30, 2022. Additionally, the report has been filed with the U.S. Securities and Exchange Commission.

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.