Stock Market News

CRH shares rise on strong Q3 results and positive outlook

2024.11.07 09:08

CRH shares rise on strong Q3 results and positive outlook

Investing.com — Shares of CRH Plc (LON:) (NYSE:) rose on Thursday following after it reported strong Q3 results, defying a challenging market for construction and materials firms.

CRH reported positive performance with EBITDA growth, rising by 12% to $2.454 billion, boosted by asset gains and cost-management efforts amid industry-wide declines. 

Despite unfavorable weather affecting parts of the Americas, CRH reported a 10% organic EBITDA growth projection for the full year, supported by strong performance in materials sales across the U.S. and Europe.

UBS flags that CRH’s improved earnings guidance has set it apart from other industry players, many of whom are revising down expectations. 

This consistent performance has been driven by a balanced approach to expansion and asset management, as well as recent acquisitions contributing an additional $250 million to projected EBITDA for 2025. 

Additionally, CRH maintained a steady dividend policy, declared another share buyback, and has guided for further progress into 2025, which UBS believes will sustain investor interest.

UBS notes that while CRH’s EPS for Q3 2024 of $1.97 slightly missed consensus expectations due to a temporary tax rate increase, the stock’s outlook remains strong given sustained demand and stable pricing in the U.S. market, which accounts for over 70% of CRH’s EBITDA.



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 98,613.42 0.23%
ethereum
Ethereum (ETH) $ 3,467.66 4.37%
tether
Tether (USDT) $ 1.00 0.16%
solana
Solana (SOL) $ 262.51 2.32%
bnb
BNB (BNB) $ 674.44 8.07%
xrp
XRP (XRP) $ 1.57 9.29%
dogecoin
Dogecoin (DOGE) $ 0.461208 14.21%
cardano
Cardano (ADA) $ 1.13 23.64%
usd-coin
USDC (USDC) $ 0.999186 0.19%
staked-ether
Lido Staked Ether (STETH) $ 3,464.60 4.18%
tron
TRON (TRX) $ 0.219111 9.59%
avalanche-2
Avalanche (AVAX) $ 43.44 11.14%
shiba-inu
Shiba Inu (SHIB) $ 0.000027 9.92%
the-open-network
Toncoin (TON) $ 6.28 14.06%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,111.38 4.69%
stellar
Stellar (XLM) $ 0.499849 69.84%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 98,434.37 0.08%
polkadot
Polkadot (DOT) $ 8.81 39.91%
chainlink
Chainlink (LINK) $ 17.77 16.24%
bitcoin-cash
Bitcoin Cash (BCH) $ 529.76 9.36%
sui
Sui (SUI) $ 3.62 3.33%
weth
WETH (WETH) $ 3,469.15 4.57%
pepe
Pepe (PEPE) $ 0.000022 6.38%
leo-token
LEO Token (LEO) $ 8.64 2.63%
near
NEAR Protocol (NEAR) $ 6.49 14.84%
litecoin
Litecoin (LTC) $ 103.82 15.24%
aptos
Aptos (APT) $ 13.17 10.22%
uniswap
Uniswap (UNI) $ 10.99 16.39%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,650.07 4.41%
hedera-hashgraph
Hedera (HBAR) $ 0.154494 17.71%
internet-computer
Internet Computer (ICP) $ 11.82 16.15%
crypto-com-chain
Cronos (CRO) $ 0.19844 5.25%
usds
USDS (USDS) $ 0.99945 0.07%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.59855 29.49%
ethereum-classic
Ethereum Classic (ETC) $ 30.71 9.75%
render-token
Render (RENDER) $ 8.15 12.32%
kaspa
Kaspa (KAS) $ 0.161825 8.75%
bittensor
Bittensor (TAO) $ 539.43 9.51%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.23%
bonk
Bonk (BONK) $ 0.00005 0.74%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.43 15.64%
vechain
VeChain (VET) $ 0.044705 36.12%
arbitrum
Arbitrum (ARB) $ 0.871496 9.30%
whitebit
WhiteBIT Coin (WBT) $ 24.64 0.44%
dogwifcoin
dogwifhat (WIF) $ 3.49 11.03%
dai
Dai (DAI) $ 0.999538 0.31%
cosmos
Cosmos Hub (ATOM) $ 8.67 17.67%
mantra-dao
MANTRA (OM) $ 3.74 2.75%
filecoin
Filecoin (FIL) $ 5.43 16.45%
blockstack
Stacks (STX) $ 2.13 11.09%