CRH Reports Strong Q3 2024 Financial Results and Raises Dividend

Summary

CRH plc reported strong Q3 2024 financial results, with total revenues of $10.5 billion, a 4% increase year-over-year, and net income of $1.4 billion, up 5%. Adjusted EBITDA rose by 12% to $2.5 billion, and earnings per share (EPS) increased by 10% to $1.99. The company reaffirmed its full-year 2024 guidance, with a midpoint of Net Income at $3.78 billion and Adjusted EBITDA at $6.87 billion. CRH also announced a quarterly dividend of $0.35 per share, a 5% increase from the prior year, and initiated a new $0.3 billion share buyback program. Management highlighted robust performance, strong double-digit growth in Adjusted EBITDA and EPS, and ongoing share buybacks. Despite adverse weather and subdued residential demand in certain markets, CRH's integrated solutions strategy continued to deliver strong results. The company also completed significant portfolio activity, including 12 acquisitions worth $1.4 billion in Q3 2024 and $3.9 billion year-to-date, as well as divestitures yielding $1.2 billion YTD.