CRH PUBLIC LTD CO
For the period ended Jun 30, 2026. Filed Jul 30, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Jul 30, 2026
CRH$94.81-0.7%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-04-30.
0001628280-26-028556
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-07-30.
0001628280-26-050755
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 144 previous paragraphs and 171 current paragraphs.
74 unchanged; 52 reworded; 43 added; 18 removed; 0 previous and 2 current paragraphs rearranged.
Tables are not compared: 14 previous and 17 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (43)
Current report
•Total revenues increased 6% to $10.8 billion;
Current report
•Net income was $1.5 billion compared with $1.3 billion, an increase of $0.2 billion or 13%. Adjusted EBITDA*1 was $2.6 billion, an increase of $0.2 billion, or 7%;
Current report
•Net income margin was 14.0% compared with 13.1%, an increase of 90bps. Adjusted EBITDA margin* was 24.4%, an increase of 30bps on the prior year's second quarter Adjusted EBITDA margin* of 24.1%; and
Current report
•Diluted Earnings Per Share (EPS) was $2.21 compared to $1.94.
Current report
•Total revenues increased 7% to $18.1 billion;
Current report
•Net income was $1.3 billion compared with $1.2 billion, an increase of $0.1 billion or 8%. Adjusted EBITDA*2 was $3.2 billion, an increase of $0.3 billion, or 9%;
Current report
•Net income margin was 7.3%, in line with theprior year's first six months. Adjusted EBITDA margin* was 17.7%, an increase of 30bps on the prior year's first six months Adjusted EBITDA margin* of 17.4%; and
Current report
*Represents a non-GAAP financial measure. See the discussion within 'Non-GAAP Reconciliation and Supplementary Information' on pages 31 to 33.1
Current report
•A total of 16 acquisitions were completed for a total consideration of $1.2 billion, compared with $0.7 billion in the first six months of the prior year. Subsequent to the period end, a further acquisition was completed in July for a consideration of $0.2 billion, bringing the year-to-date total consideration to $1.4 billion; and
Current report
For the six months ended June 30, 2026, CRH completed 16 acquisitions for a total consideration of $1.2 billion, compared to $0.7 billion in the first six months of the prior year. The largest acquisition, which completed on May 29, 2026, was the acquisition of Axius Water for a total consideration of $0.7 billion. Axius is a leading provider of specialized water quality solutions in North America.
Current report
On June 22, 2026, the Company announced a definitive agreement to acquire Arcosa, a leading U.S. provider of infrastructure-related materials, products and solutions, headquartered in Dallas, Texas, in an all-cash transaction for $150 per share reflecting a total enterprise value of approximately $8.5 billion. Arcosa is highly complementary to CRH, advancing the Company’s connected portfolio strategy. The transaction reinforces CRH’s position as the leader in U.S. aggregates, expands our capabilities in U.S. energy infrastructure, and increases exposure to some of the fastest-growing Metropolitan Statistical Areas in the U.S. The acquisition is expected to close in Q1 2027 subject to approval of Arcosa’s stockholders, regulatory approvals, and other customary closing conditions.
Current report
Total revenues 4
Current report
Total revenues were $10.8 billion for the three months ended June 30, 2026, an increase of $0.6 billion, or 6%, from the second quarter of 2025, driven by positive pricing momentum, good underlying demand, and contributions from acquisitions.
Current report
Gross profit for the three months ended June 30, 2026, was $4.3 billion, an increase of $0.3 billion, or 7% from the second quarter of 2025. The gross profit margin of 39.8% increased 40bps from 39.4% in the second quarter of the prior year. The increase in Total cost of revenues was primarily driven by a 16% increase in energy costs, driven by higher activity levels, cost inflation and acquisitions, a 4% increase in labor costs, attributable to higher headcount from acquisitions and inflationary pressures, and an 8% increase in depreciation and amortization charges, reflecting the impact of acquisitions, while other costs were 4% ahead of the second quarter of the prior year.
Current report
Selling, general and administrative expenses, were $4.3 billion for the six months ended June 30, 2026, an increase of $0.4 billion, or 9%, from the comparable 2025 period. The increase was primarily driven by an 18% increase in haulage expenses resulting from acquisitions, higher activity levels and fuel price inflation, as well as a 7% increase in labor costs reflecting higher headcount from acquisitions and wage inflation.
Current report
4*Represents a non-GAAP financial measure. See the discussion within 'Non-GAAP Reconciliation and Supplementary Information' on pages 31 to 33.
Current report
Other nonoperating income (expense), net
Current report
For the six months ended June 30, 2026, Other nonoperating income (expense), net, was an income of $278 million, primarily related to the gain on divestiture of the lawn and garden operations within Americas Building Solutions, compared with an expense of $29 million in the comparable period for 2025.
Current report
Income tax expense
Current report
For the six months ended June 30, 2026, the Company had an Income tax expense of $606 million, compared to $367 million for the comparable period in 2025. The effective tax rate was 31% for the first six months of 2026 compared with an effective tax rate of 23% for the first six months of 2025. The increase in the effective tax rate is also mainly driven by the divestiture of the lawn and garden and construction accessories operations in the period.
Current report
For the three months ended June 30, 2026, an income of $9 million was recorded in equity method investments, an increase of $8 million from the comparable period of 2025, and a loss of $2 million was recorded in equity method investments for the first six months of 2026, compared with a loss of $9 million for the first six months of 2025.
Current report
Americas Materials Solutions' Total revenues were 10% ahead of the second quarter of 2025, driven by positive pricing momentum and contributions from acquisitions.
Current report
In Essential Materials, Total revenues increased by 20%, reflecting positive pricing momentum in aggregates and contributions from acquisitions, mainly the 2025 acquisition of Eco Material Technologies. Aggregates volumes increased by 2%, while cement volumes declined by 2% impacted by adverse weather in certain markets and subdued residential demand. Aggregates prices increased by 5%, while cement prices were 1% behind the comparable period in 2025 reflecting adverse geographic mix-effects.
Current report
In Road Solutions, Total revenues were 6% ahead of the prior year, driven by good underlying demand, disciplined commercial execution and contributions from acquisitions. Asphalt volumes increased by 3%, while pricing increased by 6%. Readymixed concrete volumes were in line with the prior year, while pricing was up 2%. Paving and construction revenues increased by 5%, supported by project execution, backlog conversion, and contributions from acquisitions.
Current report
Adjusted EBITDA for Americas Materials Solutions was 12% ahead of the prior year, supported by positive pricing momentum, disciplined cost management and contributions from acquisitions. Adjusted EBITDA margin was 40bps ahead of the second quarter of 2025.
Current report
Americas Materials Solutions
Current report
Americas Building Solutions' Total revenues were 2% behind the second quarter of 2025, as strong data center and utility infrastructure demand was offset by the impact of divestitures.
Current report
In Building & Infrastructure Solutions, Total revenues were 10% ahead of the second quarter of 2025, driven by strong performance in the energy and data infrastructure markets.
Current report
In Outdoor Living Solutions, Total revenues were 7% behind the prior year period, reflecting the impact of divestitures and subdued residential demand.
Current report
Americas Building Solutions
Current report
Americas Building Solutions' Total revenues were 1% behind the first six months of 2025 as strong data center and utility infrastructure demand was offset by the impact of divestitures.
Current report
In Building & Infrastructure Solutions, Total revenues were 7% ahead of prior year, driven by strong performance in the energy and data infrastructure businesses.
Current report
Americas Building Solutions' Adjusted EBITDA was 5% behind the prior year period, reflecting higher freight and input costs together with subdued residential demand. These impacts were partly offset by growth in our utility infrastructure markets and ongoing performance improvement initiatives. Adjusted EBITDA margin was 70bps behind the first six months of 2025.
Current report
International Solutions' Total revenues were 5% ahead of the second quarter of 2025 as positive pricing momentum, increased activity levels in certain markets, and contributions from acquisitions more than offset the impact of divestitures.
Current report
In Essential Materials, Total revenues were 15% ahead of the comparable period in 2025. Aggregates and cement volumes were 10% and 6% ahead of the prior year period, respectively, with increased activity in certain markets, further supported by acquisitions. Aggregates and cement pricing were 2% and 4% ahead of the prior year period, respectively.
Current report
In Essential Materials, total revenues were 14% ahead of the comparable period in 2025, supported by continued pricing progress, increased activity levels and contributions from acquisitions. Aggregates pricing was 2% ahead and cement pricing 3% ahead of the comparable period in 2025, while aggregates and cement volumes were 9% and 4% ahead of the prior year period, respectively.
Current report
In Road Solutions, total revenues were 2% behind the comparable period in 2025, impacted by divestitures, with volumes and prices in Readymixed concrete ahead of the prior year period by 4% and 3%, respectively. Asphalt volumes declined 1%, as a result of lower activity levels in certain markets, while pricing was 13% ahead of the prior year period, benefiting from geographic mix-effects.
Current report
Total revenues in Building & Infrastructure Solutions and Outdoor Living Solutions increased by 1% compared to the prior year period, with currency tailwinds and contributions from acquisitions offsetting the impact of divestitures.
Current report
Adjusted EBITDA in International Solutions was 12% ahead of the comparable period in 2025, with continued pricing progress, contributions from acquisitions and operational excellence initiatives offsetting the impact of cost inflation. Adjusted EBITDA margin increased by 90bps compared to the prior year period.
Current report
As of June 30, 2026, the Company had entered into a bridge facility agreement for $5.8 billion the purpose of which was to finance, in part, the consideration payable in connection with the Arcosa Acquisition, the refinancing of certain of Arcosa’s existing debt and related fees and expenses. For additional information, see Note 9 to the Condensed Consolidated Financial Statements.
Showing the first 40 of 43 passages. Open the source sections for the rest.
Removed paragraphs (18)
Previous report
•Total revenues increased 9% to $7.4 billion;
Previous report
•Net loss was ($180) million compared with ($98) million, an increased loss of ($82) million on the prior year. Adjusted EBITDA*1 was $586 million, an increase of $91 million, or 18%;
Previous report
•Net loss margin was (2.4%) compared with (1.5%), a decline of 90 basis points (bps). Adjusted EBITDA margin* was 8.0%, an increase of 70bps on the prior year's first quarter Adjusted EBITDA margin* of 7.3%; and
Previous report
*Represents a non-GAAP financial measure. See the discussion within 'Non-GAAP Reconciliation and Supplementary Information' on pages 28 to 29.1
Previous report
Total revenues
Previous report
Loss on impairments
Previous report
Loss on impairments for the three months ended March 31, 2026, was $48 million, compared to $nil million in the comparable period, and was related to the International Solutions segment.
Previous report
*Represents a non-GAAP financial measure. See the discussion within 'Non-GAAP Reconciliation and Supplementary Information' on pages 28 to 29.2
Previous report
Other nonoperating expense, net
Previous report
Income tax benefit
Previous report
Loss from equity method investments
Previous report
For the three months ended March 31, 2026, a loss of ($11) million was recorded in equity method investments, an increased loss of ($1) million from the comparable period in 2025.
Previous report
Americas Building Solutions' Total revenues were 1% behind the first quarter of 2025, due to subdued new-build residential demand and adverse weather conditions in certain markets, partly offset by contributions from acquisitions.
Previous report
Adjusted EBITDA for Americas Building Solutions was in line with the first quarter of 2025, as strong cost control and operational efficiencies offset cost inflation and subdued new-build residential demand. Adjusted EBITDA margin was 10bps ahead of the prior year period.
Previous report
International Solutions
Previous report
In Essential Materials, Total revenues were 12% ahead of the comparable period in 2025. Aggregates volumes were 8% ahead of the prior year period, supported by acquisitions, while cement volumes were in line with the prior year. Aggregates pricing was in line with the prior year period, while cement pricing was 3% ahead.
Previous report
Represents a non-GAAP financial measure. See the discussion within 'Non-GAAP Reconciliation and Supplementary Information' on pages 28 to 29.
Previous report
The seasonal impact on the Company's operations disproportionately negatively impacts the quarterly operating cash flow results when compared with the full year. Net cash used in operating activities was $0.6 billion for the three months ended March 31, 2026, compared to $0.7 billion in the same period in 2025. The decrease in net cash used in operating activities was primarily due to improved operating performance.
Reworded paragraphs (52)
Previous wording
Our Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A) is intended to convey management’s perspective regarding operational and financial performance for the three months ended March 31, 2026. This MD&A should be read in conjunction with the unaudited Condensed Consolidated Financial Statements and related notes appearing in Part I, Item 1. "Financial Statements” of this Quarterly Report.
Current wording
Our Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A) is intended to convey management’s perspective regarding operational and financial performance for the three and six months ended June 30, 2026. This MD&A should be read in conjunction with the unaudited Condensed Consolidated Financial Statements and related notes appearing in Part I, Item 1. "Financial Statements” of this Quarterly Report.
Previous wording
The following discussion contains trend information and forward-looking statements. Actual results could differ materially from those discussed in these forward-looking statements, as well as from our historical performance, due to various factors, including, but not limited to, those discussed in this Quarterly Report, particularly "Forward-Looking Statements," and Item 1A. "Risk Factors" in our 2025 Form 10-K and in our other filings with the SEC. Our operating results depend upon economic cycles, seasonal and other weather‐related conditions, and trends in government funding initiatives, among other factors. Accordingly, financial results for any financial period presented, or period-to-period comparisons of reported results, may not be indicative of future operating results.
Current wording
The following discussion contains trend information and forward-looking statements. Actual results could differ materially from those discussed in these forward-looking statements, as well as from our historical performance, due to various factors, including, but not limited to, those discussed in this Quarterly Report, particularly "Forward-Looking Statements," and Item 1A. "Risk Factors" in this Quarterly Report and the Company's 2025 Form 10-K and in our other filings with the SEC. Our operating results depend upon economic cycles, seasonal and other weather‐related conditions, and trends in government funding initiatives, among other factors. Accordingly, financial results for any financial period presented, or period-to-period comparisons of reported results, may not be indicative of future operating results.
Previous wording
Operating in 28 countries across North America, Europe and Australia, CRH’s leading positions of scale serve transportation and critical infrastructure, reindustrialization projects, and commercial and residential construction activity.
Current wording
Operating in 25 countries across North America, Europe and Australia, CRH’s leading positions of scale serve transportation and critical infrastructure, reindustrialization projects, and commercial and residential construction activity.
Previous wording
CRH delivered a strong first quarter performance compared to the first quarter of 2025, resulting in the following performance highlights for the three months ended March 31, 2026 (comparisons are versus the prior year's first quarter unless otherwise noted):
Current wording
CRH delivered a strong performance in the six months ended June 30, 2026, resulting in the following performance highlights (comparisons are versus the prior year's first six months):
Previous wording
•Diluted Loss Per Share (EPS) was ($0.27) compared to ($0.15). Diluted EPS pre-impairment* was ($0.20) compared to ($0.15).
Current wording
•Diluted EPS was $1.93 compared to $1.78. Diluted EPS pre-impairment* was $2.01 compared to $1.78.
Previous wording
•Cash returned to shareholders through share buybacks was $0.3 billion, in line with the first three months of the prior year. On April 28, 2026, the latest tranche of the share buyback program was completed, bringing year-to-date repurchases to $0.4 billion;
Current wording
•Cash returned to shareholders through share buybacks was $0.6 billion for the six months ended June 30, 2026, in line with the comparable period in 2025. On July 28, 2026, the latest tranche of the share buyback program was completed, bringing year-to-date repurchases to $0.7 billion. As announced on June 22, 2026, in connection with the agreement to acquire Arcosa, CRH has not initiated a new tranche of its share buyback program;
Previous wording
•The first 2026 quarterly dividend of $0.39 per share was declared in February 2026, and a second quarterly dividend of $0.39 per share was announced on April 30, 2026, representing an increase of 5% on the prior year; and
Current wording
•The first 2026 quarterly dividend of $0.39 per share was declared in February 2026, a second quarterly dividend of $0.39 per share was declared in April 2026, and a third quarterly dividend of $0.39 per share was announced on July 30, 2026, representing an annualized increase of 5% on the prior year;
Previous wording
•A total of five acquisitions were completed for total consideration of $0.1 billion, compared with $0.6 billion in the first three months of the prior year. A further $0.6 billion was invested in growth and maintenance capital expenditure projects, in line with the $0.6 billion invested in the comparable period in 2025.
Current wording
•$1.2 billion was invested in the six months ended June 30, 2026, in growth and maintenance capital expenditure projects, compared with the $1.3 billion invested in the comparable period in 2025.
Previous wording
In the three months ended March 31, 2026, CRH completed five acquisitions for total consideration of $0.1 billion, compared with $0.6 billion in the same period in 2025. Americas Materials Solutions completed three acquisitions and International Solutions completed two acquisitions.
Current wording
In the three months ended June 30, 2026, CRH completed 11 value-accretive acquisitions for total consideration of $1.1 billion, compared with $0.1 billion in the same period in 2025. Americas Materials Solutions completed five acquisitions, Americas Building Solutions completed two acquisitions and International Solutions completed four acquisitions.
Previous wording
With respect to divestitures, in the three months ended March 31, 2026, cash proceeds from divestitures and disposals of long-lived assets were $34 million, compared with $107 million in the same period in 2025.
Current wording
With respect to divestitures, in the three months ended June 30, 2026, cash proceeds from divestitures and disposals of long-lived assets were $1.7 billion, net of disposal costs and deferred proceeds, compared with $31 million in the same period in 2025. For the six months ended June 30, 2026, CRH realized cash proceeds from divestitures and disposals of long-lived assets of $1.8 billion, net of disposal costs and deferred proceeds, compared with $0.1 billion in the same period of the prior year. These primarily comprised the divestiture of three non-core businesses: CRH's construction accessories operations for $0.7 billion, lawn and garden operations for $1.1 billion, and MoistureShield, a manufacturer of composite decking for $0.1 billion.
Previous wording
We continue to expect favorable underlying demand across our key end-markets, underpinned by significant public investment in infrastructure and continued reindustrialization activity. Within the residential sector we anticipate resilient repair and remodel activity while the new-build segment is expected to remain subdued. Assuming normal seasonal weather patterns and absent any further major dislocations in the geopolitical or macroeconomic environment, CRH's superior strategy, connected portfolio and leading positions of scale in attractive high-growth markets, together with our strong and flexible balance sheet, are expected to underpin another year of growth and value creation in 2026.
Current wording
We expect favorable underlying demand across our key end-markets, underpinned by significant public investment in infrastructure and continued reindustrialization activity. Within the residential sector we anticipate resilient repair and remodel activity, while the new-build segment is expected to remain subdued. Assuming normal seasonal weather patterns and absent any further major dislocations in the geopolitical or macroeconomic environment, CRH's superior strategy, connected portfolio and leading positions of scale in attractive high-growth markets, together with our strong and flexible balance sheet, are expected to underpin another year of growth and value creation in 2026.
Previous wording
The table below summarizes CRH’s unaudited Condensed Consolidated Statements of Income for the periods indicated.2
Current wording
The table below summarizes CRH’s unaudited Condensed Consolidated Statements of Income for the periods indicated.3
Previous wording
Total revenues were $7.4 billion for the three months ended March 31, 2026, an increase of $0.6 billion, or 9%, from the first quarter of 2025, driven by positive underlying demand, disciplined commercial execution, and contributions from acquisitions.
Current wording
Total revenues were $18.1 billion for the six months ended June 30, 2026, an increase of $1.2 billion, or 7%, from the first six months of 2025, driven by positive underlying demand, disciplined commercial execution, and contributions from acquisitions.
Previous wording
For additional discussion on segment revenues, see “Segments” section on pages 26 to 27.
Current wording
For additional discussion on segment revenues, see “Segments” section on pages 29 to 31.
Previous wording
Gross profit for the three months ended March 31, 2026, was $2.0 billion, an increase of $0.2 billion, or 11% from the first quarter of 2025. The gross profit margin of 27.7% increased 50bps from 27.2% in the first quarter of the prior year. The increase in Total cost of revenues was primarily driven by a 22% higher depreciation and amortization charge, reflecting the impact of acquisitions and increased capital expenditure, as well as a 6% increase in labor costs, attributable to higher headcount from acquisitions and inflationary pressures. Energy costs also increased by 7% driven by higher activity levels, while other costs were 7% ahead of the first quarter of the prior year.
Current wording
Gross profit for the first six months ended June 30, 2026, was $6.3 billion, an increase of $0.5 billion, or 8% from the same period of 2025. The gross profit margin of 34.9% increased 30bps from 34.6% in the first six months of the prior year. The increase in Total cost of revenues was primarily driven by a 15% higher depreciation and amortization charge, reflecting the impact of acquisitions, as well as a 5% increase in labor costs, attributable to higher headcount from acquisitions and wage inflation. Energy costs also increased by 12% driven by higher activity levels, cost inflation and acquisitions, while other costs were 5% ahead of the first six months of the prior year.
Previous wording
Selling, general and administrative expenses, which are primarily comprised of haulage costs, labor costs, and other selling and administrative expenses, were $2.1 billion for the three months ended March 31, 2026, an increase of $0.2 billion, or 12%, from the comparable 2025 period. The increase was primarily driven by a 13% increase in haulage expenses resulting from acquisitions and higher activity levels, as well as an 11% increase in labor costs reflecting higher headcount from acquisitions and wage inflation.
Current wording
Selling, general and administrative expenses, which are primarily comprised of haulage costs, labor costs, and other selling and administrative expenses were $2.3 billion for the three months ended June 30, 2026, an increase of $0.1 billion, or 7%, from the comparable 2025 period. The increase was primarily driven by a 21% increase in haulage expenses resulting from acquisitions, higher activity levels and fuel price inflation, as well as a 3% increase in labor costs reflecting higher headcount from acquisitions and wage inflation.
Previous wording
Gain on disposal of long-lived assets was $22 million for the three months ended March 31, 2026, an increase of $8 million compared with 2025.
Current wording
Gain on disposal of long-lived assets was $52 million for the three months ended June 30, 2026, an increase of $23 million compared with the same period in 2025, and $74 million for the six months ended June 30, 2026, an increase of $31 million compared with the same period in 2025.
Previous wording
Interest income was $21 million for the three months ended March 31, 2026, a reduction of $16 million from the comparable period in 2025, primarily due to lower interest rates and principal on deposit.
Current wording
Interest income was $22 million for the three months ended June 30, 2026, a reduction of $8 million from the comparable period in 2025, and $43 million for the six months ended June 30, 2026, a reduction of $24 million from the comparable period in 2025, primarily due to lower interest rates and cash on deposit.
Previous wording
Interest expense was $203 million for the three months ended March 31, 2026, an increase of $22 million from the comparable period in 2025. The increase was primarily due to higher gross debt balances.
Current wording
Interest expense was $220 million for the three months ended June 30, 2026, an increase of $20 million compared with the same period in 2025, and $423 million for the six months ended June 30, an increase of $42 million from the comparable period in 2025. The increase was primarily due to higher gross debt balances.
Previous wording
Other nonoperating expense, net, was $4 million for the three months ended March 31, 2026, compared with $20 million in the comparable period for 2025. Other nonoperating expense, net, includes pension and postretirement benefit costs (excluding service costs), gains and losses from divestitures, and other miscellaneous income and expenses. The reduction versus prior year was primarily due to the non‑recurrence of the prior year loss on divestitures.
Current wording
For the three months ended June 30, 2026, Other nonoperating income (expense), net, was an income of $282 million, primarily related to the gain on divestiture of the lawn and garden operations within Americas Building Solutions, compared with an expense of $9 million in the comparable period for 2025. Other nonoperating income (expense), net, includes pension and postretirement benefit costs (excluding service costs), gains and losses from divestitures, and other miscellaneous income and expenses.
Previous wording
For the three months ended March 31, 2026, the Company had an Income tax benefit of $55 million, compared to $58 million for the comparable period in 2025. The effective tax rate was 25% for the first quarter of 2026 compared with an effective tax rate of 40% for the first quarter of 2025. The decrease in the effective tax rate is primarily driven by a change in valuation allowances arising from the reclassification of the construction accessories operations to held for sale.
Current wording
For the three months ended June 30, 2026, the Company had an Income tax expense of $661 million, compared to $425 million for the comparable period in 2025. The effective tax rate was 31% for the second quarter of 2026 compared with an effective tax rate of 24% for the second quarter of 2025. The increase in the effective tax rate is mainly driven by the divestiture of the lawn and garden and construction accessories operations in the period.
Previous wording
Within CRH’s segments, revenue is disaggregated by principal activities and products. Business lines are reviewed and evaluated as follows: (1) Essential Materials, (2) Road Solutions, (3) Building & Infrastructure Solutions, and (4) Outdoor Living Solutions. The Essential Materials businesses manufacture and supply aggregates and cementitious materials for use in a range of construction and industrial applications. Road Solutions support the manufacturing, installation and maintenance of public highway infrastructure projects and commercial infrastructure. Building & Infrastructure Solutions connect and protect critical water, energy and telecommunications infrastructure and deliver complex commercial building projects. Outdoor Living Solutions integrate specialized materials, products and design features to enhance the quality of private and public spaces.
Current wording
Within CRH’s segments, revenue is disaggregated by principal activities and products. Business lines are reviewed and evaluated as follows: (1) Essential Materials, (2) Road Solutions, (3) Building & Infrastructure Solutions, and (4) Outdoor Living Solutions. The Essential Materials businesses manufacture and supply aggregates and cementitious materials for use in a range of construction and industrial applications. Road Solutions support the manufacturing, installation and maintenance of public highway infrastructure projects and commercial infrastructure. Building & Infrastructure Solutions connect and protect critical water, energy and data infrastructure and deliver complex commercial building projects. Outdoor Living Solutions integrate specialized materials, products and design features to enhance the quality of private and public spaces.
Previous wording
Americas Materials Solutions’ Total revenues were 21% ahead of the first quarter of 2025, driven by favorable underlying demand and contributions from acquisitions.
Current wording
Americas Materials Solutions' Total revenues were 14% ahead of the first six months of 2025, driven by favorable underlying demand, positive pricing momentum and contributions from acquisitions.
Previous wording
In Essential Materials, Total revenues increased by 31%, reflecting strong underlying demand across most regions as well as contributions from acquisitions. Aggregates volumes increased by 14% year-over-year, while pricing declined by 1%, reflecting geographic and project mix-effects. Cement volumes were 10% ahead of the prior year, while pricing was 1% behind.
Current wording
In Essential Materials, Total revenues increased by 24%, reflecting good underlying demand, positive pricing momentum in aggregates and contributions from acquisitions. Aggregates volumes increased by 6% year-over-year, while pricing increased by 3% reflecting strong commercial execution but also geographic and project mix-effects. Cement volumes were 3% ahead of the prior year, while pricing was 1% behind.
Previous wording
In Road Solutions, Total revenues were 16% ahead of the prior year, driven by a strong start to the year due to robust project activity. Asphalt volumes increased by 13%, while pricing was in line with the prior year. Readymixed concrete volumes increased by 12%, with pricing up 4% over the same period. Paving and construction revenues increased by 16%, supported by strong project execution, backlog conversion, and contributions from acquisitions.
Current wording
In Road Solutions, Total revenues were 9% ahead of the prior year, driven by robust project activity. Asphalt volumes increased by 5%, while pricing increased by 5%. Readymixed concrete volumes increased by 4%, with pricing up 3% over the same period. Paving and construction revenues increased by 8%, supported by strong project execution, backlog conversion, and contributions from acquisitions.
Previous wording
Adjusted EBITDA for Americas Materials Solutions was 75% ahead of the prior year, driven by strong underlying demand, disciplined cost management, and contributions from acquisitions. Adjusted EBITDA margin was 120bps ahead of the first quarter of 2025.
Current wording
Adjusted EBITDA for Americas Materials Solutions was 14% ahead of the prior year, driven by strong underlying demand, positive pricing, disciplined cost management, and contributions from acquisitions. Adjusted EBITDA margin was 10bps ahead of the first six months of 2025.
Previous wording
In Building & Infrastructure Solutions, Total revenues were 4% ahead of the first quarter of 2025, driven by strong demand in our utility infrastructure markets.
Current wording
Americas Building Solutions' Adjusted EBITDA was 8% behind the second quarter of 2025, reflecting the impact of divestitures, cost inflation and subdued residential demand, partly offset by strong demand in our utility infrastructure markets and ongoing performance improvement initiatives. Adjusted EBITDA margin was 140bps behind the second quarter of 2025.
Previous wording
In Outdoor Living Solutions, Total revenues were 3% behind the prior year period, as subdued new-build residential demand and adverse weather impacted activity levels.
Current wording
In Outdoor Living Solutions, Total revenues were 6% behind prior year, reflecting the impact of divestitures, subdued residential demand and adverse weather conditions earlier in the year.
Previous wording
In Road Solutions, Total revenues were in line with the comparable period in 2025, impacted by divestitures. Readymixed concrete volumes were 2% ahead of the prior year period, supported by acquisitions, while pricing increased by 3% year-over-year. Asphalt volumes and prices were 8% and 5% ahead of the comparable period in 2025, respectively, supported by higher activity levels in Western Europe.
Current wording
In Road Solutions, Total revenues were 3% behind the comparable period in 2025, impacted by divestitures. Readymixed concrete volumes were 5% ahead of the prior year period, supported by acquisitions, while pricing was 3% ahead. Asphalt volumes were 7% behind the prior year period as a result of lower activity levels in certain markets, while pricing was 20% ahead, benefiting from geographic mix-effects.
Previous wording
Within Building & Infrastructure Solutions and Outdoor Living Solutions, Total revenues were 4% ahead of the comparable period in 2025, with currency tailwinds more than offsetting the impact of divestitures.
Current wording
Within Building & Infrastructure Solutions and Outdoor Living Solutions, Total revenues were 1% behind the comparable period in 2025, reflecting the impact of divestitures.
Previous wording
Adjusted EBITDA in International Solutions was 32% ahead of the first quarter of 2025, benefiting from positive pricing momentum, improved operational efficiencies and contributions from acquisitions. Adjusted EBITDA margin increased by 130bps compared to the prior year period.
Current wording
Adjusted EBITDA in International Solutions was 8% ahead of the second quarter of 2025, benefiting from positive pricing momentum, operational excellence initiatives and contributions from acquisitions which more than offset the impact of divestitures and cost inflation. Adjusted EBITDA margin increased by 70bps.
Previous wording
International Solutions' Total revenues were 5% ahead of the first quarter of 2025, as contributions from acquisitions, positive pricing momentum, and currency tailwinds more than offset weather-impacted volumes and the impact of divestitures.
Current wording
International Solutions' Total revenues were 5% ahead of the first six months of 2025, primarily driven by continued positive pricing momentum, contributions from acquisitions and currency tailwinds, which more than offset the impact of divestitures and weather-impacted volumes earlier in the year.
Previous wording
Organic Revenue and Organic Adjusted EBITDA: CRH pursues a strategy of growth through acquisitions and investments, with total consideration spend on acquisitions and investments of $0.1 billion in the three months ended March 31, 2026, compared with $0.6 billion for the same period in 2025. Acquisitions completed in 2025 and the first quarter of 2026 contributed incremental total revenues of $0.4 billion and Adjusted EBITDA of $0.1 billion for the three months ended March 31, 2026. Cash proceeds from divestitures and disposals of long-lived assets (including deferred divestiture consideration received) amounted to $34 million for the three months ended March 31, 2026, compared with $107 million for the three months ended March 31, 2025. The Total revenues impact of divestitures was a negative $181 million and the impact at an Adjusted EBITDA level was a positive $24 million for the three months ended March 31, 2026.
Current wording
Organic Revenue and Organic Adjusted EBITDA: CRH pursues a strategy of growth through acquisitions and investments, with total consideration spend on acquisitions and investments of $1.1 billion in the six months ended June 30, 2026, compared with $0.6 billion for the same period in 2025. Acquisitions completed in 2025 and the first six months of 2026 contributed incremental total revenues of $0.5 billion and Adjusted EBITDA of $0.1 billion for the three months ended June 30, 2026 and total revenues of $1.0 billion and Adjusted EBITDA of $0.2 billion for the six months ended June 30, 2026. Cash proceeds from divestitures and disposals of long-lived assets (including deferred divestiture consideration received) amounted to $1.8 billion for the six months ended June 30, 2026, compared with $0.1 billion for the six months ended June 30, 2025. The Total revenues impact of divestitures was a negative $0.4 billion and the impact at an Adjusted EBITDA level was a negative $54 million for the three months ended June 30, 2026, and for the six months ended June 30, 2026 the Total revenues impact was a negative $0.6 billion and the impact at an Adjusted EBITDA level was a negative $30 million.
Previous wording
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. In Part I, Item 2. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section on pages 26 to 27, 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 reporting period (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 I, Item 2. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” commencing on page 26.
Current wording
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. In Part I, Item 2. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section on pages 29 to 31, 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 reporting period (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 I, Item 2. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” commencing on page 29.
Previous wording
Diluted EPS pre‑impairment: Diluted EPS pre‑impairment is a measure of the Company's profitability per share from continuing operations excluding any Loss on impairments (which is non-cash) and the related tax impact of such impairments. It is used by management to evaluate the Company's underlying profit performance and its own past performance. Diluted EPS information presented on a pre‑impairment basis is useful to investors as it provides an insight into the Company's underlying performance and profitability. Diluted EPS pre‑impairment is calculated as Net income (loss) adjusted for (i) Net (income) loss attributable to redeemable noncontrolling interests (ii) Net (income) loss attributable to noncontrolling interests (iii) adjustment of redeemable noncontrolling interests to redemption value and excluding any Loss on impairments (and the related tax impact of such impairments) divided by the diluted weighted average number of common shares outstanding for the year.
Current wording
Diluted EPS pre‑impairment: Diluted EPS pre‑impairment is a measure of the Company's profitability per Common Share from continuing operations excluding any Loss on impairments (which is non-cash) and the related tax impact of such impairments. It is used by management to evaluate the Company's underlying profit performance and its own past performance. Diluted EPS information presented on a pre‑impairment basis is useful to investors as it provides an insight into the Company's underlying performance and profitability. Diluted EPS pre‑impairment is calculated as Net income (loss) adjusted for (i) Net (income) loss attributable to redeemable noncontrolling interests (ii) Net (income) loss attributable to noncontrolling interests (iii) adjustment of redeemable noncontrolling interests to redemption value and excluding any Loss on impairments (and the related tax impact of such impairments) divided by the diluted weighted average number of Common Shares outstanding for the respective period.
Previous wording
Total short and long-term debt was $18.5 billion as of March 31, 2026, compared with $17.7 billion as of December 31, 2025, and $15.7 billion as of March 31, 2025. In the three months ended March 31, 2026, $1.2 billion of U.S. Dollar Commercial Paper was issued and $0.2 billion of Euro Commercial Paper was repaid.
Current wording
Total short and long-term debt was $17.9 billion as of June 30, 2026, compared with $17.7 billion as of December 31, 2025, and $15.8 billion as of June 30, 2025. In the six months ended June 30, 2026, $0.7 billion, net of repayments, of U.S. Dollar Commercial Paper was issued and $0.2 billion of Euro Commercial Paper was repaid.
Previous wording
Net Debt* as of March 31, 2026, was $15.8 billion, compared to $14.2 billion as of December 31, 2025, and $12.7 billion as of March 31, 2025. The increase in Net Debt* compared to December 31, 2025, is driven by the seasonal net cash outflow from operating activities, as well as acquisitions, cash returns to shareholders through continued share buybacks and the purchase of property, plant and equipment in the quarter.
Current wording
Net Debt* as of June 30, 2026, was $15.4 billion, compared to $14.2 billion as of December 31, 2025, and $13.4 billion as of June 30, 2025. The increase in Net Debt* compared to December 31, 2025, reflects acquisitions, purchases of property, plant and equipment, as well as cash returns to shareholders through share buybacks and dividends, partially offset by inflows from operating activities and proceeds from divestitures.
Previous wording
CRH continued its ongoing share buyback program in the first three months of 2026 repurchasing approximately 2.9 million Ordinary Shares for total consideration of $0.3 billion, compared to 3.2 million Ordinary Shares repurchased for total consideration of $0.3 billion in the first three months of 2025.
Current wording
CRH continued its share buyback program in the first six months of 2026 repurchasing approximately 5.5 million Ordinary Shares for a total consideration of $0.6 billion, compared to 6.9 million Ordinary Shares repurchased for a total consideration of $0.6 billion in the first six months of 2025.
Previous wording
As of March 31, 2026, CRH had cash and cash equivalents and restricted cash of $3.3 billion, compared to $4.1 billion as of December 31, 2025, and $3.4 billion as of March 31, 2025. Total lease liabilities were $1.9 billion, compared to $2.1 billion as of December 31, 2025, and $1.7 billion as of March 31, 2025.
Current wording
As of June 30, 2026, CRH had cash and cash equivalents and restricted cash of $3.1 billion, compared to $4.1 billion as of December 31, 2025, and $2.9 billion as of June 30, 2025. Total lease liabilities were $1.9 billion, compared to $2.1 billion as of December 31, 2025, and $1.8 billion as of June 30, 2025.
Previous wording
As of March 31, 2026, CRH had $4.5 billion of undrawn committed facilities available until May 2030. As of March 31, 2026, the weighted average maturity of the term debt (net of cash and cash equivalents) was 8.4 years.
Current wording
As of June 30, 2026, the Company had $4.5 billion of undrawn committed facilities available for use for general corporate purposes, which were available until May 2030. As of June 30, 2026, the weighted average maturity of the term debt (net of cash and cash equivalents) was 8.2 years.
Showing the first 40 of 52 pairs. Open the source sections for the rest.
Rearranged current paragraphs (2)
Current report — wording carried from elsewhere
CRH delivered a strong second quarter performance, resulting in the following performance highlights (comparisons are versus the prior year's second quarter):
Current report — wording carried from elsewhere
Income (loss) from equity method investments