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NEW YORK--(BUSINESS WIRE)--CRH (NYSE: CRH), the leading provider of building materials, today reported second quarter 2026 financial results. Total revenues of $10.8 billion (Q2 2025: $10.2 billion) were 6% ahead of the prior year driven by positive pricing momentum, good underlying demand, and contributions from acquisitions. Net income of $1.5 billion (Q2 2025: $1.3 billion) was 13% higher than the prior year, driven by strong operating performance and gains on divestitures during the period. Adjusted EBITDA* of $2.6 billion (Q2 2025: $2.5 billion) increased by 7% over the prior year, reflecting disciplined commercial execution, strong performance improvement initiatives and contributions from acquisitions. CRH’s net income margin of 14.0% (Q2 2025: 13.1%) and Adjusted EBITDA margin* of 24.4% (Q2 2025: 24.1%) were both ahead of the prior year.
Jim Mintern, Chief Executive Officer, stated “We delivered a strong Q2 performance driven by good commercial execution, favorable underlying demand and further contributions from acquisitions. Our unmatched scale, connected portfolio and leading performance supported higher profits and margin expansion against an inflationary cost backdrop. We remain focused on active portfolio management, completing three non-core divestitures, while reallocating capital into higher-growth, connected businesses. Backed by our robust balance sheet and financial capacity, we agreed the $8.5 billion acquisition of Arcosa, which will reinforce our position as the leading aggregates and critical infrastructure player in North America. Notwithstanding current geopolitical and macroeconomic uncertainties, we remain encouraged by the underlying demand across our key markets and are pleased to reaffirm our guidance for 2026 Net income, Adjusted EBITDA* and Diluted EPS, leaving us well positioned to deliver another year of growth and value creation.”
Summary Financials | Q2 2026 | YOY Change |
Total revenues | $10.8bn | +6% |
Net income | $1.5bn | +13% |
Net income margin | 14.0% | +90bps |
Adjusted EBITDA* | $2.6bn | +7% |
Adjusted EBITDA margin* | 24.4% | +30bps |
Diluted Earnings Per Share | $2.21 | +14% |
1Transaction remains subject to approval of Arcosa’s stockholders, regulatory approvals, and other customary closing conditions. |
*Represents a non-GAAP financial measure. See 'Non-GAAP Reconciliation and Supplementary Information' on pages 11 to 12. |
Three months ended June 30, 2026
Americas Materials Solutions' Total revenues were 10% ahead of the second quarter of 2025, driven by positive pricing momentum and contributions from acquisitions. Adjusted EBITDA increased by 12% year-over-year, reflecting disciplined cost management and contributions from acquisitions.
Americas Building Solutions' Total revenues decreased 2% compared to the second quarter of 2025 as the impact of divestitures and subdued residential demand offset strong performance in the energy and data infrastructure markets, supported by higher data center activity. Adjusted EBITDA declined 8% year-over-year, driven by divestitures, subdued residential demand and cost inflation, partly offset by strong demand in our utility infrastructure markets and performance improvement initiatives.
International Solutions' Total revenues were 5% ahead of the second quarter of 2025, as positive pricing momentum, increased activity levels in certain markets and contributions from acquisitions more than offset the impact of divestitures. Adjusted EBITDA was 8% ahead of the prior year quarter, reflecting disciplined commercial execution and operational excellence initiatives more than offsetting higher costs.
Please refer to Appendix 1 on pages 5 to 6 for detailed business segment information for the three months ended June 30, 2026.
Acquisitions and Divestitures
CRH continued its proven track record of allocating capital into high-growth, connected businesses that maximize value for shareholders. In the three months ended June 30, 2026, CRH completed 11 value-accretive acquisitions for a total consideration of $1.1 billion. Americas Materials Solutions completed five acquisitions, Americas Building Solutions completed two acquisitions and International Solutions completed four acquisitions. The largest acquisition, which completed on May 29, 2026, was the acquisition of Axius Water for a total consideration of $0.7 billion. Axius Water is a leading provider of specialized water quality solutions in North America.
On June 22, 2026, the Company announced a definitive agreement to acquire Arcosa, Inc. (‘Arcosa’), a leading U.S. provider of infrastructure-related materials, products and solutions, headquartered in Dallas, Texas, in an all-cash transaction for $150 per share reflecting a total enterprise value of approximately $8.5 billion. Arcosa is highly complementary to CRH, advancing the Company’s connected portfolio strategy. The transaction reinforces CRH’s position as the leader in U.S. aggregates, expands our capabilities in U.S. energy infrastructure, and increases exposure to some of the fastest-growing Metropolitan Statistical Areas in the U.S. The acquisition is expected to close in Q1 2027 subject to approval of Arcosa’s stockholders, regulatory approvals, and other customary closing conditions.
In the three months ended June 30, 2026, CRH also realized proceeds from divestitures and disposals of long-lived assets of $1.7 billion, net of disposal costs and deferred proceeds. These primarily comprised the divestiture of three non-core businesses: CRH's construction accessories operations for $0.7 billion, lawn and garden operations for $1.1 billion, and MoistureShield, a manufacturer of composite decking for $0.1 billion.
Other Financial Items
Depreciation, depletion and amortization charges of $548 million were $20 million higher than the prior year (Q2 2025: $528 million), primarily due to the impact of acquisitions.
Interest income of $22 million was lower than the comparable period (Q2 2025: $30 million), primarily due to lower interest rates and cash on deposit. Interest expense of $220 million was higher than the comparable period (Q2 2025: $200 million), primarily due to an increase in gross debt balances.
Income tax expense of $661 million (Q2 2025: $425 million) was higher than the prior year, mainly due to the impact of divestitures in the period.
Other nonoperating income, net, was $282 million, primarily related to gains on divestitures, compared with an expense of $9 million in Q2 2025.
Diluted Earnings Per Share (EPS) of $2.21 was ahead of the prior year (Q2 2025: $1.94), primarily due to strong operating performance and gains on divestitures.
Balance Sheet and Liquidity
Total short and long-term debt was $17.9 billion at June 30, 2026, compared with $17.7 billion at December 31, 2025.
Net Debt* at June 30, 2026, was $15.4 billion, compared to $14.2 billion at December 31, 2025. The increase in Net Debt* reflects acquisitions, purchases of property, plant and equipment, as well as cash returns to shareholders through share buybacks and dividends, partially offset by inflows from operating activities and proceeds from divestitures. CRH ended Q2 2026 with $3.1 billion of cash and cash equivalents and restricted cash on hand (June 30, 2025: $2.9 billion).
As of June 30, 2026, the Company had $4.5 billion of undrawn committed facilities available for use for general corporate purposes, which were available until May 2030. As of June 30, 2026, the Company had entered into a bridge facility agreement for $5.8 billion, the purpose of which was to finance, in part, the consideration payable in connection with the Arcosa Acquisition, the refinancing of certain of Arcosa’s existing debt and related fees and expenses. CRH remains committed to maintaining its robust balance sheet and expects to maintain a strong investment-grade credit rating.
Dividends and Share Buybacks
In line with its policy of consistent long-term dividend growth, on July 30, 2026, CRH announced a quarterly dividend of $0.39 per share, representing a 5% increase on the prior year. The dividend will be paid on September 16, 2026, to shareholders registered at the close of business on August 14, 2026.
As part of its share buyback program, in the three months ended June 30, 2026, CRH repurchased approximately 2.5 million Ordinary Shares for a total consideration of $0.3 billion, compared to 3.7 million Ordinary Shares repurchased for a total consideration of $0.3 billion in the three months ended June 30, 2025. On July 28, 2026, the latest tranche of the share buyback program was completed, bringing the year-to-date repurchases to $0.7 billion. As announced on June 22, 2026, in connection with the agreement to acquire Arcosa, CRH has not initiated a new tranche of its share buyback program. CRH will reevaluate its share buyback program at a later date, subject to market conditions, balance sheet strength, capital allocation priorities and other factors.
2026 Full Year Outlook
We are pleased to reaffirm our 2026 Net income, Adjusted EBITDA* and Diluted EPS guidance. We expect favorable underlying demand across our key end-markets, underpinned by significant public investment in infrastructure and continued reindustrialization activity. Within the residential sector we anticipate resilient repair and remodel activity, while the new-build segment is expected to remain subdued. Assuming normal seasonal weather patterns and absent any further major dislocations in the geopolitical or macroeconomic environment, CRH's superior strategy, connected portfolio and leading positions of scale in attractive high-growth markets, together with our strong and flexible balance sheet, are expected to underpin another year of growth and value creation in 2026.
2026 Guidance (i) |
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(in $ billions, except per share data) | Low | High |
Net income (ii) | 3.9 | 4.1 |
Adjusted EBITDA* | 8.1 | 8.5 |
Diluted EPS (ii) | $5.60 | $6.05 |
Capital expenditure (iii) | 2.7 | 2.9 |
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(i) The 2026 guidance does not assume any significant one-off or non-recurring items, including the impact of further potential changes to global trade policies, impairments or other unforeseen events. | ||
(ii) 2026 Net income and Diluted EPS are based on approximately $0.7 billion of interest expense, net, an effective tax rate of approximately 26% and a year-to-date average of approximately 674 million diluted Common Shares outstanding. | ||
(iii) 2026 capital expenditure guidance is being updated from the previous range of $2.8 billion to $3.0 billion to a new range of $2.7 billion to $2.9 billion to reflect project timing and lower maintenance spend. | ||
Q2 2026 Conference Call
CRH will host a conference call and webcast presentation at 8:00 a.m. (EDT) on Thursday, July 30, 2026, to discuss its Q2 2026 results and outlook. Registration details are available on www.crh.com/investors. Upon registration, a link to join the call and dial-in details will be made available. The accompanying investor presentation will be available on the investor section of the CRH website in advance of the conference call, and a recording of the conference call will be made available afterwards.
About CRH
CRH is the leading provider of building materials critical to modernizing infrastructure. With our team of 83,000 people across 4,000 locations, our unmatched scale, connected portfolio, and deep local relationships make us the partner of choice for transportation, water, and reindustrialization projects, shaping communities for a better tomorrow. CRH (NYSE: CRH) is a member of the S&P 500 Index. For more information, visit www.crh.com.
Appendices
Appendix 1 - Results Of Operations
Three months ended June 30, 2026 | |||||||||||||
Americas Materials Solutions | |||||||||||||
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| Analysis of Change |
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in $ millions | Q2 2025 | Currency | Acquisitions | Divestitures | Organic | Q2 2026 | % change | ||||||
Total revenues | 4,509 | – | +312 | (34) | +170 | 4,957 | +10% | ||||||
Adjusted EBITDA | 1,241 | – | +69 | +2 | +72 | 1,384 | +12% | ||||||
Adjusted EBITDA margin | 27.5% |
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| 27.9% |
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Americas Materials Solutions' Total revenues were 10% ahead of the second quarter of 2025, driven by positive pricing momentum and contributions from acquisitions.
In Essential Materials, Total revenues increased by 20%, reflecting positive pricing momentum in aggregates and contributions from acquisitions, mainly the 2025 acquisition of Eco Material Technologies. Aggregates volumes increased by 2%, while cement volumes declined by 2% impacted by adverse weather in certain markets and subdued residential demand. Aggregates prices increased by 5%, while cement prices were 1% behind the comparable period in 2025 reflecting adverse geographic mix-effects.
In Road Solutions, Total revenues were 6% ahead of the prior year, driven by good underlying demand, disciplined commercial execution and contributions from acquisitions. Asphalt volumes increased by 3%, while pricing increased by 6%. Readymixed concrete volumes were in line with the prior year, while pricing was up 2%. Paving and construction revenues increased by 5%, supported by project execution, backlog conversion, and contributions from acquisitions.
Adjusted EBITDA for Americas Materials Solutions was 12% ahead of the prior year, supported by positive pricing momentum, disciplined cost management and contributions from acquisitions. Adjusted EBITDA margin was 40bps ahead of the second quarter of 2025.
Americas Building Solutions | |||||||||||||
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| Analysis of Change |
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in $ millions | Q2 2025 | Currency | Acquisitions | Divestitures | Organic | Q2 2026 | % change | ||||||
Total revenues | 2,159 | – | +5 | (192) | +145 | 2,117 | (2%) | ||||||
Adjusted EBITDA | 501 | – | +20 | (37) | (22) | 462 | (8%) | ||||||
Adjusted EBITDA margin | 23.2% |
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| 21.8% |
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Americas Building Solutions' Total revenues were 2% behind the second quarter of 2025, as strong data center and utility infrastructure demand was offset by the impact of divestitures.
In Building & Infrastructure Solutions, Total revenues were 10% ahead of the second quarter of 2025, driven by strong performance in the energy and data infrastructure markets.
In Outdoor Living Solutions, Total revenues were 7% behind the prior year period, reflecting the impact of divestitures and subdued residential demand.
Americas Building Solutions' Adjusted EBITDA was 8% behind the second quarter of 2025, reflecting the impact of divestitures, cost inflation and subdued residential demand, partly offset by strong demand in our utility infrastructure markets and ongoing performance improvement initiatives. Adjusted EBITDA margin was 140bps behind the second quarter of 2025.
International Solutions | |||||||||||||
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| Analysis of Change |
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in $ millions | Q2 2025 | Currency | Acquisitions | Divestitures | Organic | Q2 2026 | % change | ||||||
Total revenues | 3,538 | +89 | +226 | (203) | +53 | 3,703 | +5% | ||||||
Adjusted EBITDA | 721 | +14 | +40 | (19) | +25 | 781 | +8% | ||||||
Adjusted EBITDA margin | 20.4% |
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| 21.1% |
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International Solutions' Total revenues were 5% ahead of the second quarter of 2025 as positive pricing momentum, increased activity levels in certain markets, and contributions from acquisitions more than offset the impact of divestitures.
In Essential Materials, Total revenues were 15% ahead of the comparable period in 2025. Aggregates and cement volumes were 10% and 6% ahead of the prior year period, respectively, with increased activity in certain markets, further supported by acquisitions. Aggregates and cement pricing were 2% and 4% ahead of the prior year period, respectively.
In Road Solutions, Total revenues were 3% behind the comparable period in 2025, impacted by divestitures. Readymixed concrete volumes were 5% ahead of the prior year period, supported by acquisitions, while pricing was 3% ahead. Asphalt volumes were 7% behind the prior year period as a result of lower activity levels in certain markets, while pricing was 20% ahead, benefiting from geographic mix-effects.
Within Building & Infrastructure Solutions and Outdoor Living Solutions, Total revenues were 1% behind the comparable period in 2025, reflecting the impact of divestitures.
Adjusted EBITDA in International Solutions was 8% ahead of the second quarter of 2025, benefiting from positive pricing momentum, operational excellence initiatives and contributions from acquisitions which more than offset the impact of divestitures and cost inflation. Adjusted EBITDA margin increased by 70bps.
Appendix 2 - Financial Statements
The following financial statements are an extract of the Company’s Condensed Consolidated Financial Statements prepared in accordance with U.S. GAAP for the three and six months ended June 30, 2026, and do not present all necessary information for a complete understanding of the Company's financial condition as of June 30, 2026 and its results of operations for the interim periods then ended. The full Condensed Consolidated Financial Statements prepared in accordance with U.S. GAAP for the three months ended June 30, 2026, including notes thereto, will be included as a part of the Company’s Quarterly Report on Form 10-Q filed with the U.S. Securities and Exchange Commission (SEC).
Condensed Consolidated Statements of Income (Unaudited) | ||||
(in $ millions, except share and per share data) | ||||
| Three months ended | Six months ended | ||
| June 30 | June 30 | ||
| 2026 | 2025 | 2026 | 2025 |
Product revenues | 8,491 | 7,919 | 14,725 | 13,531 |
Service revenues | 2,286 | 2,287 | 3,422 | 3,431 |
Total revenues | 10,777 | 10,206 | 18,147 | 16,962 |
Cost of product revenues | (4,429) | (4,083) | (8,680) | (7,909) |
Cost of service revenues | (2,054) | (2,097) | (3,128) | (3,190) |
Total cost of revenues | (6,483) | (6,180) | (11,808) | (11,099) |
Gross profit | 4,294 | 4,026 | 6,339 | 5,863 |
Selling, general and administrative expenses | (2,267) | (2,120) | (4,324) | (3,953) |
Gain on disposal of long-lived assets | 52 | 29 | 74 | 43 |
Loss on impairments | – | – | (48) | – |
Operating income | 2,079 | 1,935 | 2,041 | 1,953 |
Interest income | 22 | 30 | 43 | 67 |
Interest expense | (220) | (200) | (423) | (381) |
Other nonoperating income (expense), net | 282 | (9) | 278 | (29) |
Income from operations before income tax expense and income from equity method investments | 2,163 | 1,756 | 1,939 | 1,610 |
Income tax expense | (661) | (425) | (606) | (367) |
Income (loss) from equity method investments | 9 | 1 | (2) | (9) |
Net income | 1,511 | 1,332 | 1,331 | 1,234 |
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Net (income) attributable to redeemable noncontrolling interests | (10) | (8) | (10) | (8) |
Net (income) attributable to noncontrolling interests | (15) | (5) | (11) | (1) |
Net income attributable to CRH | 1,486 | 1,319 | 1,310 | 1,225 |
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Earnings per share attributable to CRH |
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Basic | $2.22 | $1.95 | $1.94 | $1.79 |
Diluted | $2.21 | $1.94 | $1.93 | $1.78 |
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Weighted average common shares outstanding |
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Basic | 667.2 | 674.8 | 667.9 | 675.8 |
Diluted | 668.8 | 677.7 | 670.3 | 679.9 |
Condensed Consolidated Balance Sheets (Unaudited) | |||
(in $ millions, except share data) | |||
| June 30 | December 31 | June 30 |
| 2026 | 2025 | 2025 |
Assets |
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Current assets: |
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Cash and cash equivalents | 3,025 | 4,096 | 2,876 |
Restricted cash | 58 | 51 | – |
Accounts receivable, net of allowance for credit losses of $136 million, $137 million, and $151 million as of June 30, 2026, December 31, 2025, and June 30, 2025, respectively | 6,777 | 5,178 | 6,490 |
Inventories | 5,103 | 5,251 | 5,051 |
Other current assets | 789 | 678 | 734 |
Total current assets | 15,752 | 15,254 | 15,151 |
Property, plant and equipment, net | 24,885 | 24,937 | 23,017 |
Equity method investments | 464 | 502 | 712 |
Goodwill | 13,150 | 13,099 | 11,673 |
Intangible assets, net | 2,037 | 2,048 | 1,239 |
Operating lease right-of-use assets, net | 1,285 | 1,471 | 1,295 |
Other noncurrent assets | 979 | 1,018 | 897 |
Total assets | 58,552 | 58,329 | 53,984 |
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Liabilities, redeemable noncontrolling interests and shareholders’ equity |
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Current liabilities: |
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Accounts payable | 3,535 | 3,263 | 3,303 |
Accrued expenses | 2,046 | 2,196 | 2,266 |
Current portion of long-term debt | 2,516 | 1,175 | 1,171 |
Operating lease liabilities | 258 | 286 | 247 |
Other current liabilities | 1,622 | 1,834 | 1,697 |
Total current liabilities | 9,977 | 8,754 | 8,684 |
Long-term debt | 15,410 | 16,478 | 14,642 |
Deferred income tax liabilities | 3,509 | 3,511 | 3,202 |
Noncurrent operating lease liabilities | 1,069 | 1,232 | 1,096 |
Other noncurrent liabilities | 3,052 | 2,876 | 2,730 |
Total liabilities | 33,017 | 32,851 | 30,354 |
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Redeemable noncontrolling interests | 435 | 430 | 389 |
Shareholders’ equity |
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Preferred stock, €1.27 par value, nil, 150,000 and 150,000 shares authorized and nil, 50,000 and 50,000 shares issued and outstanding for 5% preferred stock and nil, 872,000 and 872,000 shares authorized, issued and outstanding for 7% 'A' preferred stock, as of June 30, 2026, December 31, 2025, and June 30, 2025, respectively | – | 1 | 1 |
Common stock, €0.32 par value, 1,250,000,000 shares authorized; 701,490,721, 706,946,142 and 711,792,599 issued and 665,895,636, 668,630,350 and 673,202,797 outstanding, as of June 30, 2026, December 31, 2025, and June 30, 2025, respectively | 284 | 286 | 288 |
Treasury stock, at cost (35,595,085, 38,315,792 and 38,589,802 shares as of June 30, 2026, December 31, 2025, and June 30, 2025, respectively) | (1,896) | (2,016) | (2,028) |
Additional paid-in capital | 285 | 397 | 323 |
Accumulated other comprehensive loss | (376) | (257) | (345) |
Retained earnings | 25,738 | 25,593 | 24,106 |
Total shareholders’ equity attributable to CRH shareholders | 24,035 | 24,004 | 22,345 |
Noncontrolling interests | 1,065 | 1,044 | 896 |
Total equity | 25,100 | 25,048 | 23,241 |
Total liabilities, redeemable noncontrolling interests and equity | 58,552 | 58,329 | 53,984 |
Condensed Consolidated Statements of Cash Flows (Unaudited) | ||
(in $ millions) | ||
| Six months ended | |
| June 30 | |
| 2026 | 2025 |
Cash Flows from Operating Activities: |
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Net income | 1,331 | 1,234 |
Adjustments to reconcile net income to net cash provided by operating activities: |
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Depreciation, depletion, and amortization | 1,124 | 1,005 |
Loss on impairments | 48 | – |
Share-based compensation | 73 | 66 |
Gain on disposals from businesses and long-lived assets, net | (334) | (12) |
Deferred tax expense | 31 | 5 |
Loss from equity method investments | 2 | 9 |
Pension and other postretirement benefits net periodic benefit cost | – | 12 |
Non-cash operating lease costs | 164 | 134 |
Other items, net | 6 | 2 |
Changes in operating assets and liabilities, net of effects of acquisitions and divestitures: |
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Accounts receivable, net | (1,824) | (1,397) |
Inventories | (140) | (107) |
Accounts payable | 248 | (58) |
Operating lease liabilities | (167) | (153) |
Other assets | (55) | (250) |
Other liabilities | 23 | 249 |
Pension and other postretirement benefits contributions | (21) | (20) |
Dividends received from equity method investments | 4 | – |
Net cash provided by operating activities | 513 | 719 |
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Cash Flows from Investing Activities: |
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Purchases of property, plant and equipment, and intangibles | (1,240) | (1,300) |
Acquisitions, net of cash acquired | (1,110) | (648) |
Proceeds from divestitures | 1,676 | 37 |
Proceeds from disposal of long-lived assets | 96 | 65 |
Distributions received from equity method investments | – | 13 |
Settlements of derivatives | (33) | (33) |
Deferred divestiture consideration received | – | 38 |
Other investing activities, net | 23 | 33 |
Net cash used in investing activities | (588) | (1,795) |
Danilo Juvane
Head of Investor Relations
danilo.juvane@crh.com
Lauren Schulz
Chief Communications Officer
lauren.schulz@crh.com
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