CRH : Financial Results (CRH Q1 2026 Results Presentation)

Published: 2026-04-30 06:41:50 ET CRH

Published on 04/30/2026 at 06:41 am EDT

Leading Performance Value-Creating Capital Allocation

Superior Strategy 2026 Outlook

Q1 2026 Results 3

Good early-season activity, disciplined commercial execution & contributions from acquisitions

Reallocating capital for higher growth & continuing to build a connected portfolio

$1.9B of strategic divestitures1 agreed across three non-core businesses

Built for Growth, Powered by Performance

Investing $0.9B in 9 value-accretive acquisitions; including Axius Water1, further strengthening high-growth platform

Declaring quarterly dividend of $0.39 per share (+5% YoY); further $0.3B share buyback

Positive underlying demand; reaffirming FY guidance; expect Adj. EBITDA* $8.1B to $8.5B

*Represents a non-GAAP financial measure. See the discussion within 'Non-GAAP Reconciliations' on pages 30 to 31 for definition and reconciliation to the most directly comparable GAAP measure. Full FY26 guidance is provided on page 22.

For footnoted information, refer to Appendix.

Q1 2026 Results 4

SUPERIOR STRATEGY

PROVEN LLEEAADDIINNGG

GROWTH PPEERRFFOORRMMAANNCCEE

CAPABILITIES

VALUE-CREATING CAPITAL ALLOCATION

Revenues

$7.4B

+9%

Adj. EBITDA*

$0.6B

+18%

Adj. EBITDA Margin*

8.0%

+70bps

*Represents a non-GAAP financial measure. See the discussion within 'Non-GAAP Reconciliations' on pages 30 to 31 for definition and reconciliation to the most directly comparable GAAP measure.

Q1 2026 Results 5

Growing Megatrends

Infrastructure

Transportation

Water

Reindustrialization

CRH

Winning Way

Leading Compounder of Capital

Proven long-term delivery

Double-digit earnings growth1

Leading Performance

SUPERIOR STRATEGY

PROVEN LLEEAADDIINNGG

GROWTH PPEERRFFOORRMMAANNCCEE

CAPABILITIES

VALUE-CREATING CAPITAL ALLOCATION

•

Strong start to the year … demand underpinned

by growing infrastructure megatrends

Robust volume performance backed by good early-season project activity

Strong commercial execution, cost discipline & contributions from acquisitions

Positive momentum in bidding & backlogs

YoY Change

Revenues

2,724

+21%

Adj. EBITDA

103

+75%

Adj. EBITDA Margin

3.8%

+120bps

SUPERIOR STRATEGY

PROVEN LLEEAADDIINNGG

GROWTH PPEERRFFOORRMMAANNCCEE

CAPABILITIES

VALUE-CREATING CAPITAL ALLOCATION

•

Solid performance despite adverse weather

& subdued new-build Residential market

Further margin expansion supported by strong cost control & operational efficiencies

Positive Data Center & Utility Infra demand

Residential repair & remodel activity remains resilient

YoY Change

Revenues

1,668

-1%

Adj. EBITDA

287

Adj. EBITDA Margin

17.2%

+10bps

SUPERIOR STRATEGY

PROVEN LLEEAADDIINNGG

GROWTH PPEERRFFOORRMMAANNCCEE

CAPABILITIES

VALUE-CREATING CAPITAL ALLOCATION

•

Strong profit growth & margin expansion

Good pricing momentum & cost control

Western Europe: Solid Infrastructure & Reindustrialization demand

Central & Eastern Europe: Activity levels recovering following adverse winter weather

Australia: Positive underlying demand, operational improvements & synergy delivery

YoY Change

Revenues

2,978

+5%

Adj. EBITDA

196

+32%

Adj. EBITDA Margin

6.6%

+130bps

Value-Creating Capital Allocation

SUPERIOR STRATEGY

PROVEN LEADING

GROWTH PERFORMANCE

CAPABILITIES

VALUE-CREATING CAPITAL ALLOCATION

Strategic divestment of non-core businesses

Construction Accessories

~$0.7B

Engineered lifting, connecting & anchoring solutions for the construction industry

Lawn & Garden

~$1.1B

Manufacturer & supplier of mulch, soil & decorative stone

MoistureShield

~$0.1B

Manufacturer of composite decking

A leading water infrastructure platform with national reach

Attractive, high-growth market … publicly funded & non-discretionary

Reindustrialization demand and aging network drive significant investment needs … ~1/3 over 50 years old1

Strategic focus on transmission & water quality

… fastest-growing segments of $100B+ U.S. water ecosystem2

Fragmented market with significant runway for continued growth

Closely connected to our leading Aggregates, Cementitious & Roads platforms

SUPERIOR STRATEGY

PROVEN LEADING

GROWTH PERFORMANCE

CAPABILITIES

VALUE-CREATING CAPITAL ALLOCATION

Transmission

Pipes

Culverts

Manholes

Hydro Separation

Water Quality

Media Filtration

Mechanical Separation

SUPERIOR STRATEGY

PROVEN LEADING

GROWTH PERFORMANCE

CAPABILITIES

VALUE-CREATING CAPITAL ALLOCATION

A leading provider of water quality and nutrient

removal solutions in North America

Further strengthening our existing position as a leading U.S. water infrastructure player

Strong management with best in class customer centric design and engineering capabilities

•

Highly complementary to our existing water platform

… enhanced customer offering

… significant synergy & self-supply opportunities

… strong IP portfolio; extensive R&D capabilities

•

Completion expected in Q2 20261

Superior Strategy

Unmatched Scale

#1 Infrastructure play in North America

… publicly funded, less volatile & more predictable

Leading positions in attractive, high-growth markets

… aligned with secular megatrends

Performance excellence across ~4k locations

~$40B financial capacity1 to 2030

… supported by strong balance sheet & cash generation

Connected Portfolio

Fully connected offering

… aggregates, cementitious, roads & water

More embedded with customers

… higher pull-through demand & greater share of wallet

Less capital intensive & more variable cost base

… maximizing growth, cash & return on capital

Superior growth opportunities

… strong, recurring M&A pipeline; ability to deliver enhanced synergies

Adj. EBITDA*

+15%

CAGR since 20151

SUPERIOR STRATEGY

PROVEN LLEEAADDIINNGG

GROWTH PPEERRFFOORRMMAANNCCEE

CAPABILITIES

VALUE-CREATING CAPITAL ALLOCATION

Leading Compounder of Capital

19%

Annualized TSR since 20152

Revenues

+8%

CAGR since 20151

Diluted EPS*

+18%

CAGR since 20151

Adj. EBITDA Margin*

~110bps

Avg. annual increase since 20151

*Represents a non-GAAP financial measure. Diluted EPS is shown on a pre-impairment basis. For footnoted information, refer to Appendix.

Q1 2026 Results 17

2026 Outlook

Transportation

Strong State & Federal

highway funding

'26 State Transportation budgets +6%1

~50% of IIJA highway funds yet to be deployed2

International markets supported by government & EU funding programs

Water

Robust demand for network

upgrades

• +HSD%3 forecast growth across all areas of water transmission & water quality in 2026

~80% IIJA water funding yet to be deployed4

Reindustrialization

Continued strong demand

for manufacturing & data center projects

Benefiting from unmatched scale & connected customer offering

Activity remains positive across key CRH International markets

Reflecting strong performance & YTD portfolio activity

Adj. EBITDA*

$8.1B - $8.5B

Net Income

$3.9B - $4.1B

Diluted EPS

$5.60 - $6.05

*Represents a non-GAAP financial measure. See the discussion within 'Non-GAAP Reconciliations' on pages 30 to 31 for definition and reconciliation to the most directly comparable GAAP measure.

The 2026 guidance does not assume any significant one-off or non-recurring items, including the impact of further potential changes to global trade policies, impairments or other unforeseen events. Full FY26 guidance is provided on page 22.

Q1 2026 Results 20

Appendix

Financial Guidance (i) Low High

Net income $3.9B $4.1B

Adj. EBITDA* $8.1B $8.5B

Diluted EPS $5.60 $6.05

Capital expenditure $2.8B $3.0B

The guidance does not assume any significant one-off or non-recurring items, including the impact of further potential changes to global trade policies, impairments or other unforeseen events.

2026 financial guidance is based on the following underlying assumptions:

Depreciation, depletion & amortization

$2.3B

Effective tax rate

24%

Interest expense, net

$0.7B

Share count (ii)

675m

Income tax expense

$1.3B

year-to-date average diluted common shares outstanding.

*Represents a non-GAAP financial measure. See the discussion within 'Non-GAAP Reconciliations' on pages 30 to 31 for definition and reconciliation to the most directly comparable GAAP measure.

Q1 2026 Results 22

Q1 YoY % Change

Americas International

Volume

Price

Volume

Price

Aggregates

+14%

-1%1

+8%

Asphalt

+13%

+8%

+5%

Cement

+10%

-1%

+3%

RMC

+12%

+4%

+2%

+3%

1Americas Aggregates pricing +5% on a mix-adjusted basis.

Analysis of change

$ million

Q1 2025

Currency

Acquisitions

Divestitures

Organic

Q1 2026

% Change

Total revenues

2,243

+269

(5)

+211

2,724

+21%

Adjusted EBITDA

(1)

+35

103

+75%

Adjusted EBITDA margin

2.6%

3.8%

Analysis of change

$ million

Q1 2025

Currency

Acquisitions

Divestitures

Organic

Q1 2026

% Change

Total revenues

1,682

+18

(35)

1,668

(1%)

Adjusted EBITDA

287

(2)

287

Adjusted EBITDA margin

17.1%

17.2%

Analysis of change

$ million

Q1 2025

Currency

Acquisitions

Divestitures

Organic

Q1 2026

% Change

Total revenues

2,831

+257

+161

(176)

(95)

2,978

+5%

Adjusted EBITDA

149

+19

196

+32%

Adjusted EBITDA margin

5.3%

6.6%

Page 4

1. Transactions agreed and remain subject to customary closing conditions and regulatory approvals.

Page 6

1. 'Double-digit earnings growth' refers to CRH's compound annualized growth rate of Adjusted EBITDA for the period from December 31, 2015 to December 31, 2025. Metrics from the fiscal year ended December 31, 2015 are based on IFRS. 2015 EBITDA (as defined) has been modified to exclude contributions from subsequently divested businesses. The adjustments required to reflect these metrics under U.S. GAAP have not been quantified. No material differences have been identified that would impact trends calculated in accordance with U.S. GAAP in comparison to IFRS. For source data of these 2015 metrics, please refer to page 28 of this presentation. Metrics from the financial year ended December 31, 2025 are based on U.S. GAAP as reported in our 2025 Form 10-K.

Page 12

Construction Accessories and Lawn & Garden divestitures agreed and expected to close in Q2 2026, subject to customary closing conditions and regulatory approvals. MoistureShield divestiture completed on April 6th.

Page 13

Utah Water Research Laboratory estimate as of December 2023.

Global Water Intelligence Data, July 2025.

Page 14

Transaction agreed and remains subject to customary closing conditions and regulatory approvals.

Page 16

Financial capacity is defined as the anticipated cash and debt financing available (after maintenance capex) for growth investments and cash returns to shareholders. The information is indicative only and any capital deployment will be dependent on the value creation opportunities arising over the period. The Company's ability to deliver on these capital allocation priorities may be negatively impacted by the factors set out in the disclaimer on page 2.

Page 17

Metrics from the fiscal year ended December 31, 2015 are based on IFRS. Diluted EPS has been adjusted to exclude impairments, and Revenues and EBITDA exclude contributions from subsequently divested businesses. The adjustments required to reflect these metrics under U.S. GAAP have not been quantified. No material differences have been identified that would impact trends calculated in accordance with U.S. GAAP in comparison to IFRS. For source data of these 2015 metrics, please refer to page 29 of this presentation. Metrics from the financial year ended December 31, 2025 are based on U.S. GAAP as reported in our 2025 Form 10-K.

10-year annualized compound total shareholder return through December 31, 2025, sourced from Bloomberg.

Page 19

U.S. Department of Transportation (USDOT) proposed Fiscal Year 2026 budgets.

American Road & Transportation Builders Association (ARTBA) estimate as of February 2026.

Bluefield Research, Data Navigator, November 2024.

Bluefield Research, Infrastructure Investment & Jobs Act: Tracking the Spending, Q3 2025.

in millions

€

2015 EBITDA (as defined) (i)

Less: EBITDA (as defined) from divested businesses Europe Distribution (i)

2,219

(171)

Americas Distribution (i)

(140)

Building Envelope (ii)

(121)

2015 IFRS based EBITDA (as defined) (iii) (iv)

1,787

1,983

2025 Adjusted EBITDA* per the Annual Report on Form 10-K

7,681

10-Year CAGR

15%

As reported under IFRS in the Annual Report on Form 20-F for 2015.

The results for Building Envelope stated are under IFRS and were not previously separately reported in external filings.

Effective from January 1, 2020, CRH changed its reporting currency from euro to U.S. Dollar. Reported results for 2015 have been translated from euro to U.S. Dollar using the 2015 average exchange rate of $1.1095 to €1.

The adjustments required to reflect these metrics under U.S. GAAP have not been quantified. No material differences have been identified that would impact trends calculated in accordance with U.S. GAAP in comparison to IFRS.

*Represents a non-GAAP financial measure. See the discussion within 'Non-GAAP Reconciliations' on pages 30 to 31.

IFRS

U.S. GAAP

in $ millions, except per share data

2015 (ii)

2025

Revenues

As reported

26,223

37,447

Europe Distribution as reported

(4,613)

Americas Distribution as reported

(2,473)

Building Envelope (i)

(1,226)

Group excluding Europe Distribution, Americas Distribution and Building Envelope

17,911

37,447

CAGR since 2015

Group profit for the financial year (IFRS) / Net Income (U.S. GAAP)

809

3,790

EBITDA (IFRS) / Adjusted EBITDA

As reported

2,462

7,681

Europe Distribution as reported

(190)

Americas Distribution as reported

(155)

Building Envelope (i)

(134)

Group excluding Europe Distribution, Americas Distribution and Building Envelope

1,983

7,681

CAGR since 2015

15%

Diluted EPS

Diluted EPS as reported

$0.98

$5.51

Impairment impact (net of tax)

$0.06

Diluted EPS pre-impairment

$1.04

$5.57

CAGR since 2015

18%

(i) The results for Building Envelope were not separately reported in external filings.

(ii) Effective from January 1, 2020, CRH changed its reporting currency from euro to U.S. Dollar. Reported results for 2015 have been translated from euro to U.S. Dollar using the 2015 average exchange rate of $1.1095 to €1.

Q1 2026 Results 29

CRH uses a number of non-GAAP financial measures to monitor financial performance. These measures are referred to throughout the discussion of our reported financial position and operating performance on a continuing operations basis unless otherwise defined and are measures which are regularly reviewed by CRH management. These financial measures may not be uniformly defined by all companies and accordingly may not be directly comparable with similarly titled measures and disclosures by other companies. Certain information presented is derived from amounts calculated in accordance with U.S. GAAP but is not itself an expressly permitted GAAP measure. The non-GAAP financial measures as summarized below should not be viewed in isolation or as an alternative to the most directly comparable GAAP measure.

Adjusted EBITDA: Adjusted EBITDA is defined as earnings from continuing operations before interest, taxes, depreciation, depletion, amortization, Loss on impairments, gain/loss on divestitures and investments, Income/loss from equity method investments, substantial acquisition-related costs and pension expense/income excluding current service cost component. It is quoted by management in conjunction with other GAAP and non-GAAP financial measures to aid investors in their analysis of the performance of the Company. Adjusted EBITDA by segment is monitored by management in order to allocate resources between segments and to assess performance. Adjusted EBITDA margin is calculated by expressing Adjusted EBITDA as a percentage of Total revenues. Reconciliation to its most directly comparable GAAP financial measure is presented below:

in $ millions

Q1 2026

Q1 2025

Net loss

(180)

(98)

Loss from equity method investments

Income tax benefit

(55)

(58)

Loss on divestitures and investments (i)

Pension income excluding current service cost component (i)

(5)

(4)

Other interest, net (i)

(2)

Interest expense

203

181

Interest income

(21)

(37)

Depreciation, depletion and amortization

576

477

Loss on impairments (ii)

Adjusted EBITDA

586

495

Total revenues

7,370

6,756

Net loss margin

(2.4%)

(1.5%)

Adjusted EBITDA margin

8.0%

7.3%

(i) Loss on divestitures and investments, pension income excluding current service cost component and other interest, net have been included in Other nonoperating expense, net in the Consolidated Statements of Income in the Quarterly Report on Form 10-Q.

(ii) For the three months ended March 31, 2026, Loss on impairments totaled $48 million, related to the International Solutions segment.

Adjusted EBITDA (continued): Reconciliation to the most directly comparable GAAP financial measure for the mid-point of the 2026 Adjusted EBITDA guidance is presented below:

in $ billions FY 2026 Mid-Point

Net income 4.0

Income tax expense 1.3

Interest expense, net 0.7

Depreciation, depletion and amortization 2.3

Adjusted EBITDA 8.3

Organic Revenue and Organic Adjusted EBITDA: Because of the impact of acquisitions, divestitures, currency exchange translation and other non-recurring items on reported results each reporting period, CRH uses organic revenue and organic Adjusted EBITDA as additional performance indicators to assess performance of pre-existing (also referred to as underlying, like-for-like or ongoing) operations each reporting period.

Organic revenue and organic Adjusted EBITDA are arrived at by excluding the incremental revenue and Adjusted EBITDA contributions from current and prior year acquisitions and divestitures, the impact of exchange translation, and the impact of any one-off items. Changes in organic revenue and organic Adjusted EBITDA are presented as additional measures of revenue and Adjusted EBITDA to provide a greater understanding of the performance of the Company. Organic change % is calculated by expressing the organic movement as a percentage of the prior year (adjusted for currency exchange effects). A reconciliation of the changes in organic revenue and organic Adjusted EBITDA to the changes in Total revenues and Adjusted EBITDA by segment, is presented with the discussion within each segment's performance in tables contained in the segment discussion in Part 1, Item 2. "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Quarterly Report on Form 10-Q.

Q1 2026 Results

Disclaimer

CRH plc published this content on April 30, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 30, 2026 at 10:40 UTC.