CRH (CRH) H2 2024 earnings summary

Executive summary

• Delivered 11th consecutive year of margin improvement in 2024, with industry-leading, double-digit profit growth and outperformance versus US and global peers.

• Maintained market leadership in North America and Europe, leveraging unmatched scale, a customer-connected solution strategy, and disciplined capital allocation.

• Strategic focus on higher growth markets, particularly in the U.S. and Europe, with a uniquely connected portfolio.

• Strong operational execution, disciplined capital allocation, and ongoing innovation drive consistent outperformance.

Financial highlights

• Full year revenues reached $35.6 billion, up 2% year-over-year, with Q4 revenues at $8.9 billion, also up 2%.

• Adjusted EBITDA rose 12% to $6.9 billion, with 180 basis points of margin expansion to 19.5%.

• Earnings per share increased 18% year-over-year to $5.48 (pre-impairment).

• Return on invested capital improved to 15.5%, up 20 basis points.

• Organic growth was driven by positive pricing, operational efficiency, and cost control.

Outlook and guidance

• 2025 guidance: Adjusted EBITDA of $7.3–$7.7 billion, net income of $3.7–$4.1 billion, diluted EPS of $5.34–$5.80, and capex of $2.8–$3.0 billion.

• Positive market backdrop expected in both Americas and international markets, with infrastructure and non-residential segments leading growth.

• Residential new-build activity to remain subdued in the U.S., but repair/remodel resilient; international residential stabilizing, with early signs of improvement in Central & Eastern Europe.

• Expecting continued margin expansion and growth, supported by robust backlogs and funding tailwinds.