Revenues in the CRH Americas Materials Solutions business were up 4 percent in the third quarter to $5.2 billion.
CRH, which reported its latest quarterly results Nov. 7, says pricing gains and contributions from acquisitions contributed to the revenue gains. The company says weather was a disruptor to the business in some Americas Materials Solutions markets.
Additionally, CRH reports that third-quarter EBITDA (earnings before interest, taxes, depreciation and amortization) in Americas Materials Solutions was 16 percent ahead of the prior-year period.
Globally and across all businesses, CRH says its total third-quarter revenues were 4 percent ahead of the prior-year period. The company’s revenues totaled $10.5 billion in the third quarter.
“Our third-quarter results represent another strong performance with further growth in sales, profits and margins,” says Albert Manifold, chief executive at CRH. “Despite contending with adverse weather in the quarter, our differentiated solutions strategy continues to deliver industry-leading performance, while the strength of our balance sheet, combined with our disciplined approach to capital allocation, leaves us well positioned to capitalize on the growth and value creation opportunities that lie ahead.
“We are pleased to reaffirm our guidance midpoint for 2024 and, looking ahead to 2025, we expect favorable underlying demand, positive pricing momentum and another year of progress for CRH,” Manifold adds.
According to CRH, aggregate pricing jumped 10 percent in the third quarter while cement pricing was up 9 percent. Aggregate volumes were down 4 percent in the quarter, the company adds, with adverse weather playing a role.
