CRH said net income for the quarter ended March 31, 2024 was $114 million, compared with a net loss of $31 million a year earlier, and Adjusted EBITDA rose to $445 million, up $59 million or 15%. Basic earnings per share were $0.16.

1. 01

   CRH said net income for the quarter ended March 31, 2024 was $114 million, compared with a net loss of $31 million a year earlier, and Adjusted EBITDA rose to $445 million, up $59 million or 15%. Basic earnings per share were $0.16.

2. 02

   The company said it completed 8 acquisitions in Q1 2024 for total consideration of $2.2 billion. The largest was the purchase of a portfolio of cement and readymixed concrete assets and operations in Texas by Americas Materials Solutions, for total consideration of $2.1 billion.

3. 03

   The company said it paid shareholders $0.8 billion in dividends and $0.4 billion in share buybacks in Q1 2024. It declared a quarterly dividend of $0.35 per share in February 2024, and the share buyback program was extended by an additional $0.3 billion tranche, to be completed no later than August 7, 2024.

4. 04

   CRH said total short and long-term debt was $12.7 billion as of March 31, 2024, compared with $11.6 billion at year-end 2023, and Net Debt was $9.6 billion as of December 31, 2023, compared with $5.4 billion. The company cited operating cash outflows, the Texas acquisition, dividends and share buybacks, and purchases of property, plant and equipment as factors increasing Net Debt.

Key figures

Quarter ended March 31, 2024

Revenue

$6.5B

Operating income

$28M

Net income

$116M

EPS

$0.16

Gross profit

$1.8B

Operating cash flow

−$712M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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