CRH plc issued second quarter 2024 results for the three months ended June 30. The company is reporting total revenues of $9.7 billion, a 1% decrease, and $16.2 billion for the first half of 2024, no change.
The company noted these developments:
- Differentiated strategy continuing to deliver robust financial performance.
- Carefully constructed portfolio and operating footprint mitigated impact of adverse weather.
- Further profit growth and strong margin expansion driven by positive pricing and cost management.
- Significant portfolio activity year-to-date; with $3.7 billion invested in value-accretive M&A.
- Integration of materials acquisition in Texas progressing well; increasing run-rate synergy target to $65 million.
Albert Manifold, chief executive, said, “We are pleased to report another period of further profit growth and margin expansion for CRH. The execution of our differentiated solutions strategy continues to deliver robust financial performance, while the strength of our balance sheet and relentless focus on the disciplined allocation of our capital enables us to capitalize on the opportunities we see for further growth and value creation. Reflecting the strength of our financial performance, the positive underlying momentum in our business as well as the positive contribution from recent portfolio activity, we are raising our guidance and remain well positioned to deliver another record year in 2024.”