CRH Filings — Crh Public Limited Company - FilingSpy
CRH
Crh Public Limited Company
A one of the world's largest makers of building materials, CRH supplies the cement, aggregates, and asphalt that go into roads, bridges, and homes across dozens of countries. It came to be in 1970, when Ireland's two biggest building firms—Cement and Roadstone—merged to form Cement Roadstone Holdings, whose initials it still carries. Its Roadstone half traces back to two brothers hauling sand and gravel around Dublin in a single truck.
Q2 2026 revenue rose 5.6% to $10.8B with net income up 12.7% to $1.5B
The seasonal loss from Q1 swung back to profit as activity resumed. rose 5.6% to $10.8B and rose 13.9% to $2.21 as widened 0.4 points to 39.8%, driven by pricing and acquisitions that offset higher energy and labor costs. CRH carries $15.4B of into the second half as acquisition spend continues.
Key takeaways
rose 12.7% to $1,486M and rose 13.9% to $2.21, reversing the $176M Q1 loss as the seasonal low passed and the $48M Q1 did not recur.
rose 5.6% to $10.8B, with Americas Materials Solutions up 10% on aggregates pricing and acquisitions while Americas Building Solutions fell 2% on divestitures and weak residential demand.
expanded 0.4 points to 39.8% even as cost of revenues rose on energy (+16%), labor (+4%), and (+8%) costs.
Section summaries
Management's Discussion and Analysis
CRH Q2 2026 revenue rose 6% to $10.8B on pricing and acquisitions; net income up 13% to $1.5B despite higher tax rate.
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Total revenues grew 6% to $10.8B in Q2 and 7% to $18.1B in H1, driven by positive pricing, underlying demand, and acquisitions.
The rose to 31% from 24% due to gains on divestitures of lawn & garden and construction accessories businesses, a one-off item.
increased to $15.4B from $14.2B at year-end 2025, reflecting acquisition spend and shareholder returns; fell 4.1% to $15.4B from Q1's $16.1B.
Liquidity stood at $3.1B cash plus $4.5B undrawn committed facilities, and management expects infrastructure and reindustrialization demand to support further growth.
What changed
Q2 against the 27.7% Q1 figure: it rose 12.1 points to 39.8% as the seasonal low passed and Eco Material contribution built.
from the $15.8B Q1 level: it fell to $15.4B as Q2 of $1,129M partly offset acquisition and return spend.
from the $16.1B Q1 figure: it declined 4.1% to $15.4B, down from the $16.5B FY2025 close.
Q2 net loss narrowing to profit: the $48M International Solutions did not recur and seasonal activity resumed, producing $1,486M .
Since FY2025, in Q2 was 39.8% versus the 36.1% annual figure, with energy costs shifting from a 2025 decline to a 16% Q2 increase.
What to watch
Q3 2026 against the 39.8% Q2 figure as energy cost relief fades and labor costs rise.
movement from $15.4B as $2.5B annual shareholder returns and acquisition spend proceed.
trajectory from $15.4B as the Arcosa acquisition and note issuance pipeline develop.
Contribution of the Eco Material acquisition to H2 2026 and following its Q2 2025 close.
increased 13% to $1.5B in Q2, while the rose to 31% from 24% due to gains on divestitures of lawn & garden and construction accessories businesses.
Americas Materials Solutions led with 10% Q2 growth on strong aggregates pricing and acquisitions; Americas Building Solutions revenue fell 2% as data center strength was offset by divestitures and subdued residential demand.
expanded 40bps to 39.8% in Q2, but cost of revenues rose on higher energy (+16%), labor (+4%), and (+8%) costs.
Liquidity remains robust with $3.1B in cash and $4.5B in undrawn committed facilities; increased to $15.4B reflecting acquisition spend and shareholder returns.
Management expects favorable infrastructure and reindustrialization demand to underpin another year of growth, while the new-build residential is expected to remain subdued.
Quantitative and Qualitative Disclosures About Market Risk
CRH faces FX, interest rate, and commodity risks, using derivatives and natural hedges to limit earnings and cash flow volatility.
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As of June 30, 2026, 91% of total debt was fixed-rate ($16.8B) and 9% floating-rate ($1.6B), with interest rate swaps converting $0.5B fixed-to-floating and $0.4B floating-to-fixed.
A hypothetical 10 rise in interest rates would have a $14M favorable before-tax earnings and cash flow impact on the variable-rate portfolio, including derivatives.
Foreign exchange exposure arises from non-U.S. operations and transactions; the Company uses in local currencies and $5.7B notional in FX forwards to hedge.
A 10% weakening of foreign currencies versus the U.S. Dollar would increase the fair value of outstanding FX contracts by approximately $165M, offset by the hedged exposure.
Commodity price risk from oil, electricity, coal, and carbon credits is managed through supply contracts, forward contracts, and derivative hedging programs of up to three years.
CRH states no pending legal proceeding is expected to materially affect its financial condition, results, or liquidity.
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The Company is party to ordinary-course legal proceedings but believes none will have a material effect.
No specific litigation, claims, or investigations are named or described in this section.
The filing does not disclose any estimated or possible financial exposure from legal matters.
The Company's risk factors separately discuss potential liabilities from acquisitions and divestitures, including environmental and IT support obligations.
A definitive agreement to acquire Arcosa is noted, with a termination fee of 5% of merger consideration if antitrust clearances are not obtained.