CRH offered an update on its Americas Materials Solutions business through three-quarters of the year, noting that the group’s sales are 7 percent ahead of 2022.
According to CRH, strong commercial gains across all Americas Materials Solutions lines, coupled with robust construction sales, partly offset lower activity in regions that were weather impacted.
Nine-month EBITDA was 11 percent ahead of the prior year, the company adds, with “good pricing” contributing along with “strong operational efficiencies.”
Aggregate volumes in the Americas Materials Solutions business through nine months lagged 2022 by 2 percent, CRH says. Unfavorable weather in the West was a factor, the company adds, although demand in the Great Lakes region and the Northeast remained strong. Those regions benefited from higher levels of infrastructure funding, according to CRH.
Additionally, CRH says good commercial management led to a 14 percent increase in average prices – with increases in all Americas Materials Solutions regions. Price progression of 16 percent in cement delivered sales growth that offset lower demand, with adverse weather in north Texas and the West Inland region driving volumes down 5 percent versus the prior year.
‘‘I am pleased to report another strong performance for our business,” says Albert Manifold, chief executive of CRH. “Our integrated solutions strategy continues to deliver superior growth, while our strong cash generation and disciplined approach to capital allocation enables us to create additional value for our shareholders.
