Q3 2024 CRH PLC Earnings Call Transcript
Key Points
- CRH PLC (CRH) reported strong growth in all key financial metrics for Q3 2024, supported by positive pricing momentum and effective cost management.
- The company reaffirmed its full-year guidance, expecting adjusted EBITDA between $6.87 and $6.97 billion, indicating another year of double-digit growth.
- CRH PLC (CRH) invested $4.6 billion in 35 acquisitions year-to-date, enhancing its presence in high-growth markets such as Texas and Australia.
- The ongoing share buyback program returned approximately $1.2 billion to shareholders, with a new quarterly tranche of $300 million announced.
- The company reported a 12% increase in adjusted EBITDA and a 10% rise in earnings per share compared to the prior year period, demonstrating robust financial performance.
- CRH PLC (CRH) faced significant weather disruptions in certain regions, impacting operations and volumes, particularly in the southern US.
- The European building solutions segment, representing less than 5% of group adjusted EBITDA, experienced challenges due to adverse weather and softness in the new build residential market.
- Despite strong performance, the company continues to operate in an inflationary cost environment, with mid-single-digit cost inflation expected across labor, raw materials, and subcontractor costs.
- The residential segment in the US and Europe remains subdued, with new build activity expected to improve gradually in the second half of 2025.
- The company ended Q3 2024 with a net debt position of $11.2 billion, reflecting significant acquisition and capital expenditure activities.
Good day and welcome to the CRHPLCQ 3 2024 results presentation. My name is Jay and I'll be your operator today. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. If you would like to ask a question, please press star. Then the number one on your telephone keypad at any time. If you would like to withdraw your question, it's star followed by the number one at this time. I'd like to turn the conference over to Albert Manifold, Crh chief executive to begin the conference. Please go ahead, sir.
Good morning everyone. Albert Manifold here, Crh Group chief executive. And you're all very welcome to our quarter 3 2024 results presentation and conference call.
The only way on the call is Jim Mintern Group CFO and CEO designate Randy Lake Chief Operating Officer and Tom Holmes, head of Investor relations. Before we get started. I'll hand you over to Tom for some brief opening remarks.
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