CRH sticks to full-year forecast as earnings rise 11% in first quarter
CRH reaffirmed its full-year profit forecasts on Monday evening, after the building materials and services giant reported that its earnings rose 11 per cent to $495 million (€437 million) in the first quarter.
The Dublin-based group reiterated that it sees its earnings before interest, tax, depreciation and amortisation (Ebitda) rising as much as 11.6 per cent to come in between $7.3 billion and $7.7 billion.
First quarter sales rose by 3 per cent to $6.8 billion, according to the group, which moved its main listing to New York in 2023 and dropped its Irish quotation in the process.
'Although the first quarter is typically the seasonally least significant period for our business, we are encouraged by the continued strength of underlying demand across our key markets,' said chief executive Jim Mintern.
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'Our relentless focus on financial control and discipline enabled us to maintain our strong balance sheet in the first quarter. Notwithstanding the current macroeconomic uncertainty, the outlook for our business remains positive and we are pleased to reaffirm our financial guidance for 2025, leaving us well positioned for another year of growth and value creation ahead.'
In the three months ended March 31st, CRH completed eight acquisitions for a total consideration of $600 million, compared with $2.2 billion in the first quarter of 2024.
Americas Materials Solutions completed five acquisitions, the largest of which being Talley Construction, a vertically integrated asphalt and paving company with operations in Tennessee, Georgia, Alabama and North Carolina, while Americas Building Solutions completed three acquisitions.
CRH realised proceeds from divestitures and disposals of long-lived assets of $100 million, compared with $700 million in the first quarter of the prior year.
'Due to the localised nature of our operations, we do not expect a material direct impact from recent changes in global trade policies on our business,' CRH said.
'While it is still early in the construction season, we continue to expect positive underlying demand across our key end-use markets in 2025, underpinned by significant public investment in critical infrastructure and continued re-industrialisation activity in key non-residential segments.'
Within the residential sector, the new-build segment is expected to remain subdued, while repair and remodel activity remains resilient, it said.
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