Positive pricing momentum and contributions from acquisitions contributed to gains in the CRH Americas Materials Solutions business in the second quarter.
According to CRH, revenues were up 2 percent in its Americas Materials Solutions business. The company cited inclement weather as a contributor to its second-quarter performance.
Additionally, adjusted EBITDA (earnings before interest, tax, depreciation and amortization) was 4 percent ahead of the prior-year period at CRH Americas Materials Solutions. The company says acquisitions, underlying commercial progress and ongoing cost management were contributing factors in the result.
Globally, CRH’s revenues were up 6 percent. Net income was up 2 percent, and adjusted EBITDA increased 9 percent.
“Our strong second-quarter performance was driven by favorable underlying demand, disciplined commercial management and further contributions from acquisitions,” says Jim Mintern, CEO of CRH. “CRH’s proven strategy continued to drive higher sales, profits and adjusted EBITDA margins, while our robust balance sheet and financial capacity enabled us to allocate approximately $3 billion to growth investments and capital returns year-to-date.”
Additionally, CRH says it completed two acquisitions in the Americas Materials Solutions group in the second quarter.
“We completed 19 acquisitions year-to-date and continue to see an active pipeline of opportunities to further strengthen our market-leading positions in attractive growth markets,” Mintern says of the global business.
